Neobo Fastigheter Ab · OMXSTO:NEOBO
Neobo Fastigheter Ab — Q4 2025 Earnings Presentation
28 slides from Neobo Fastigheter Ab's earnings presentation, Feb 12, 2026
Slide 1: Welcome to the presentation of Neobo's year-end report
Welcome to the presentation of Neobo’s year-end report January-December 2025 Stockholm February 12, 2026 Q4
Slide 2: Ylva Sarby Westman, CEO
2 Ylva Sarby Westman CEO
Slide 3: Homes for everyone
Frej 6 Homes for OSKARSHAMN everyone
Slide 4: Profit from property management +32%
Svetsaren 8 NYKÖPING Profit from property management 201 m +32%
Slide 5: Profit from property management per share 1.40
Minerva 8 SUNDSVALL Profit from property management per share 1.40 +34%
Slide 6: Rental income +5% like-for-like
Norrtull 5 STRÄNGNÄS Rental income 934 m +5% Like-for-like
Slide 7: Net operating income +10% like-for-like
Klockaren 11 Net operating income FALKÖPING 513 m +10% Like-for-like
Slide 8: Unrealized value changes in properties
Lodet 2 Unrealized value changes in properties VÄNERSBORG 16 m +0.1%
Slide 9: Residential focused portfolio
9 Residential focused portfolio Property value (SEK) Share of residential properties Number of properties 13.6 bn 94% 256 Number of apartments Lettable area (sq.m.) 8,100 673,000
Slide 10: Increasing rental value
NEOBO Increasing rental value Commercial 16% Residential SEK 77% 1,019 m Community service 3% Total rental value Other 4%
Slide 11: Highest total occupancy rate in our history
Norrtull 5 Highest total occupancy rate in our history Homes for STRÄNGNÄS everyoneTotal occupancy rate Residential occupancy rate 94.9% 93.7% 93.4% 92.0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2023 2023 2023 2024 2024 2024 2024 2025 2025 2025 2025 Norrtull 5 STRÄNGNÄS
Slide 12: Residential vacancy in Sundsvall fell sharply
Bacchus 12 SUNDSVALL Residential vacancy in Sundsvall fell sharply from 6.8% → 1.5%
Slide 13: Portfolio optimization - divestment of non-core properties
Portfolio optimization - divestment of non-core properties 404 m
Slide 14: Value creating investments
Backus 19 OSKARSHAMN Value creating investments of SEK 239 m with attractive return
Slide 15: Apartment renovations
Apartment renovations Renovation of 11 Nynäshamn apartments with a total investment of 5.5 m and a yield on cost of 7 percent Safe homes and neighborhoods
Slide 16: Before and after renovation
16 Before and after renovation
Slide 17: Energy investment
Energy investment Conversion to solar Falköping hybrid heating - cutting energy use by 50 percent and delivering a 13 percent yield on cost
Slide 18: A sustainable Neobo
A sustainable Neobo Sustainable living environments Corporate social responsibility Attractive and sustainable living environments Consideration and respect for employees, tenants, where people can thrive and feel secure investors and the society in which we operate Safe homes Climate Energy GHG Mat
Slide 19: Energy consumption
Energy efficiency and renewable energy Energy consumption -5% Like-for-like portfolio
Slide 20: Result January–December 2025
Result January–December 2025 2025 2024 Amounts in SEK m Jan-Dec Jan-Dec +5% Rental income Like-for-like 934 908 Property management costs -421 -435 Net operating income 513 473 +10% Like-for-like Central administration -65 -75 Profit before financial items 448 398 Net financial items -247 -246 Profi
Slide 21: Earnings capacity
Svetsaren 8 Earnings capacity NYKÖPING 1 January 1 October 1 July 1 April 1 January SEK m 2026 2025 2025 2025 2025 Rental value 1,019 1,036 1,038 1,036 1,017 Vacancy -65 -72 -78 -76 -73 Rental income 954 965 960 961 944 Property management -397 -397 -402 -402 -402 costs Property tax -22 -22 -23 -23
Slide 22: Changes in property value 2022-2025
Changes in property value 2022-2025 Valuation yield: • Q4 2025: 5.1% • Q4 2022: 4.1% Market value Valuation yield SEK m 15 000 5.00% 5,0 14 000 4.50% 4,5 13 000 4.00% 4,0 12 000 3.50% 3,5 11 000 3.00% 3,0 10 000 2.50% 2,5 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2023 2023 2023 2024 2024 2024
Slide 23: Neobo has a strong financial position
Neobo has a strong financial position Key debt highlights as of December 2025 Debt maturity overview SEK m 50.0% 2.8y 4 500 4 000 57% Loan-to-value Average debt duration 3 500 3 000 39% 2 500 3.3% 2.4y 2 000 Average interest rate Average fixed rate period 1 500 1 000 500 3% 1% 85% 1.8x 0 0-1 1-2 2-3
Slide 24: Interest rate derivatives
Interest rate derivatives Maturity structure and average interest rate SEK m 2000 0.65% 1800 1600 1.96% SEK 5.9 bn 1400 1200 2.45% 1000 Aggregated nominal value 800 2.55% 2.50% 600 400 2.74% 200 0 0-1 1-2 2-3 3-4 4-5 5- 1.8% Interest rate swaps, forward started Start Maturity Nominal amount, SEK m I
Slide 25: Our largest shareholders
Our largest shareholders As of December 31, 2025 Percentage of share Shareholder No. of shares capital and voting right Avanza Pension 20,314,612 14.0 ICA-handlarnas Förbund 16,000,000 11.0 Martin Larsén 10,345,000 7.1 Länsförsäkringar Fonder 7,090,000 4.9 Swedbank Försäkring 4,759,980 3.3 Futur Pen
Slide 26: Key takeaways
Key takeaways • Strong profit growth – profit from property management per share up 34 percent • Achieved the highest total occupancy rate ever • Refinanced and extended bank loans for nearly SEK 4 billion at attractive conditions • Divested non-prioritized properties - generated liquidity for share
Slide 27: Questions are welcome!
Questions are Norrtull 5 STRÄNGNÄS welcome!
Slide 28: neobo
neobo