Dios Fastigheter Ab · OMXSTO:DIOS
Dios Fastigheter Ab — Q4 2025 Earnings Presentation
17 slides from Dios Fastigheter Ab's earnings presentation, Feb 13, 2026
Slide 1: Q4 2025 Year-end report 2025
Q4 2025 Year-end report 2025
Slide 2: Strong growth in IFPM
Intro Operation Portfolio Financing Outlook Strong growth in IFPM Summary October - December 2025 • Economic occupancy was 90% at the end of 4Q25 vs 91% at 4Q24 – transactions have, and will affect, occupancy Operational • Income amounted to SEK 669m 4Q25 compared to SEK 632 4Q24 – driven by transac
Slide 3: Vacancies at historical average, thus divestment of occupied properties
Intro Operation Portfolio Financing Outlook Vacancies at historical average, thus divestment of occupied properties Property value and valuation yield Occupancy rate 35 32.5 10% 100% 93% 31.2 31.4 90% 91% 91% 90% 89% 89% 91% 92% 90% 31.1 88% 9% 30 28.0 8% 24.5 75% 25 22.9 7% 20.8 19.4 6% 20 5% 50% 1
Slide 4: Growth in income from property management
Intro Operation Portfolio Financing Outlook Growth in income from property management SEKm 2025 2024 2025 2024 ∆% Oct-Dec Oct-Dec Jan-Dec Jan-Dec 1 • Acquisitions and completed projects are lifting rental income Total income 1 669 632 6 2,662 2,527 • Occupancy rate was 90% Property cost 2 -231 -219
Slide 5: Stable revenue base
Intro Operation Portfolio Financing Outlook Stable revenue base Rental value, type of premises Rental growth 3%5% 669 1.4% 7% Office 8 Like-for-like rental growth 24 4 3 7% Retail 632 8% 58% Hotel/ restaurants Residential 95% Of commercial lease contracts have 13% Health care/ education CPI-linked i
Slide 6: Solid net letting track record and very low tenant concentration risk
Intro Operation Portfolio Financing Outlook Solid net letting track record and very low tenant concentration risk • Net letting amounts to SEK -1m for 4Q25 • 5 out of 10 largest tenants are businesses in the national, regional or local government sectors • Positive net letting 25 of 28 latest quarte
Slide 7: Asset rotation creates growth opportunities
Intro Operation Portfolio Financing Outlook Asset rotation creates growth opportunities SEKm No of properties Valuation yield 6,20% Property portfolio, 1 Jan 31,413 323 6,10% 6,00% Acquisitions 1,811 7 5,80% Investments in new builds, extensions and 940 5,60% conversions 5,40% Disposals -1,630 -15 5
Slide 8: Sensible investment criteria form basis for accretive growth
Intro Operation Portfolio Financing Outlook Sensible investment criteria form basis for accretive growth • Pick-up in investment of tenant adaptation • Major projects are built with no speculation Condominiums • All new projects are built according to BREEAM, at least level “very good”, Residentials
Slide 9: Cost of debt continues lower
Intro Operation Portfolio Financing Outlook Cost of debt continues lower Financing sources • Average cost of debt lower than marginal cost of debt 16% Bank loan • Committed to keep ICR ≥ 2.0 and LTV at 55%-45% • Improved margins and good liquidity in the bond market SFF bond 14% • Bank margins at at
Slide 10: Conservative balance sheet approach
Intro Operation Portfolio Financing Outlook Conservative balance sheet approach Loan-to-value <55%* Net debt / EBITDA Interest cover ratio ≥2.0 70 13 7,0 Covenant <65% 65 12 6,5 60 11 6,0 Target <55%* 55 10 5,5 50 5,0 9 45 4,5 8 40 4,0 7 35 3,5 6 30 3,0 Target >2.0x 5 25 2,5 4 20 2,0 3 Covenant >1.5
Slide 11: Great conditions for economic growth
Intro Operation Portfolio Financing Outlook Great conditions for economic growth • Hydropower • Windpower • Green steel production • Available land • Electro fuel • Cold climate • Forestry • Solid governing structure • Data centres • NATO membership • Military investments • Attractive 15-min cities
Slide 12: Investments
Intro Operation Portfolio Financing Outlook Investments Completed projects i Q4 New lettings Östersund Gävle Kraften 12, Umeå Region Jämtland Härjedalen Hotel Healthcare centre, 10y lease 2,563 sqm. 3,500 sqm Evidensia YoC >8% Veterinary care, 15y lease 1,000 sqm YoC >9% Gävle Member24 Gym, 10y leas
Slide 13: Strategies for profitable growth
Intro Operation Portfolio Financing Outlook Strategies for profitable growth - Which properties should we own? - Optimize revenue and costs - What should we invest in and where? Portfolio strategy Leasing and property Investment strategy management strategy 2026-02-13 │Q4 2025 Earnings call 13
Slide 14: Invest in Diös
Intro Operation Portfolio Financing Outlook Invest in Diös Unique position in an Long-term profitability Strong stable cash flow attractive market Our business model is based on . A well-diversified property portfolio We are the market-leading property owner in continuously developing attractive acr
Slide 15: Q&A
Q&A 15 2025-02-14 │ Q4 2024 Earnings call
Slide 16: Speakers
Intro Operation Portfolio Financing Outlook Speakers David Carlsson, CEO Rolf Larsson, CFO Johan Dernmar, CIRO CEO since 2025 CFO since 2005 Chief Investor Relations Shareholdings 25,000 Shareholdings 16,000 Officer since 2023 (in the company since 2015) Shareholdings 11,000 2026-02-13 │Q4 2025 Earn
Slide 17: Thank you!
Thank you! Contact Johan Dernmar Chief Investor Relations Officer +4610-470 95 20 johan.dernmar@dios.se