Slide 1: First quarter 2025 Wallenstam
First quarter 2025 Wallenstam
Slide 2: Events during quarter
Events during quarter 1 • Took possession of the Sergel’s scraper in Stockholm • Vacated commercial properties in Gårda and Högsbo in Gothenburg • Repurchase of 5,000,000 shares during the period • Price for Nacka Grace
Slide 3: Wallenstam today
Wallenstam today 208 properties Residential 51% Office 27% 1.4 million sq m Retail 7% Education/care 4% SEK 68 billion in property value Restaurant 4% Garage 2% 96% in occupancy rate Industry/warehouse 3% 1,177 apartments Cinema 1% under construction Distribution Other 1% Rental value 53 wind turbin
Slide 4: EPC classes distributed by rental value
EPC classes distributed by rental value F-G 1% (4) A-C 59% (62) D-E 40% (34) Shows the energy classes of Wallenstam's properties distributed by rental value. The ratio at year-end is given in brackets.
Slide 5: Net operating income, properties
Net operating income, properties SEK million 2025 2024 2024/25 2024 Jan-Mar Jan-Mar Apr-Mar Jan-Dec Rental income 772 719 2,975 2,922 Operating expenses investment properties -202 -184 -718 -701 Net operating income, properties 570 535 2,256 2,222 Surplus ratio: 73.8%
Slide 6: Net operating income change, +7%
Net operating income change, +7% Rental income +52 MSEK New construction Acquisitions One-time Total Comparable holdings & large projects /sales compensations rental income +19 0 +21 +12 MSEK MSEK MSEK MSEK Net operating income +35 MSEK Operating expenses New construction Acquisitions Property maint
Slide 7: 343 apartments completed and let
Q1 2025 343 apartments completed and let
Slide 8: Nacka Grace
Nacka Grace, 66 apts. The project is fully completed, a total of 169 apts.
Slide 9: Älta Torg kv. 1, Nacka
Älta Torg kv. 1, Nacka, 106 apts. The project includes a total of 191 apts.
Slide 10: Ädellövet, Farsta, Stockholm
Ädellövet, Farsta, Stockholm, 12 apts. The project includes a total of 172 apts.
Slide 11: Kallebäcks Terrasser kv. 6, Gothenburg
Kallebäcks Terrasser kv. 6, Gothenburg, 159 apts. The project includes a total of 298 apts.
Slide 12: Income from property management
Income from property management SEK million 2025 2024 2024/25 2024 Jan-Mar Jan-Mar Apr-Mar Jan-Dec Rental income 772 719 2,975 2,922 Operating expenses investment properties -202 -184 -718 -701 Net operating income, properties 570 535 2,256 2,222 Management costs and administrative expenses -89 -71
Slide 13: Average fixed interest rate term, 47 months
Average fixed interest rate term, 47 months SEK million 2,500 Interest coverage ratio during the Interest 2,000 quarter: coverage ratio, 2.8 times rolling 12 months: 1,500 2.1 times 68% of the loan volume 1,000 has fixed interest. 500 0 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Maturity
Slide 14: Profit/loss after tax
Profit/loss after tax SEK million 2025 2024 2024/25 2024 Jan-Mar Jan-Mar Apr-Mar Jan-Dec Profit/loss before changes in value and impairment 313 214 842 742 losses Change in value, investment properties 123 -15 526 388 Change in value, financial instruments 100 238 -36 102 Change in value, synthetic
Slide 15: Balance sheet – Assets
Balance sheet – Assets Assets, 25-03-31 24-12-31 SEK million Investment properties 68,062 65,588 INVESTMENT PROPERTIES, SEK MILLION Development properties 64 64 Investment properties in operation 62,946 Wind turbines 810 831 Projects in progress, rental apartments 2,920 Cash and cash equivalents 158
Slide 16: The value of the properties
The value of the properties Distribution Property value CHANGE DURING THE YEAR, INVESTMENT PROPERTIES SEK million Investment properties, Jan 1, 2025 65,588 Residential properties, 56% Acquisitions 3,061 Construction 524 Commercial Sales -1,218 properties, 44% Unrealized change in value 106 Investmen
Slide 17: Investments in construction
Investments in construction SEK million 4, 000 3 ,500 3, 000 2,500 2,000 1 ,500 1,000 524 MSEK 500 0 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 2025
Slide 18: 1,177 apartments in ongoing new construction
Occupation started 2025 Kallebäcks Terrasser Kvarter 6 139 apts. Gothenburg Occupation starts 2027 Åbybergsgatan Occupation started 2025 Occupation starts 2026 Kvarter C 119 apts. Mölndal Älta Torg Årstaberg Kvarter 1 408 apts. 85 apts. Stockholm Nacka Kallebäcks Terrasser Kvarter 1 177 apts. Gothen
Slide 19: Construction start of 216 apartments
Q1 2025 Construction start of 216 apartments
Slide 20: Kallebäcks Terrasser kv. 1, Gothenburg
Kallebäcks Terrasser kv. 1, Gothenburg, 177 apts. Planned completion 2027.
Slide 21: Sten Stures kröningar, phase 2, Gothenburg
Sten Stures kröningar, phase 2, Gothenburg, 39 apts. Planned completion 2027.
Slide 22: Balance sheet – Liabilities and equity
Balance sheet – Liabilities and equity Liabilities and equity, 25-03-31 24-12-31 SEK million Equity/assets ratio: Equity 31,187 30,844 44% Interest-bearing liabilities 32,535 30,399 Loan-to-value Financial derivative instruments 18 21 ratio: Lease liability 639 633 47% Other 7,162 7,025 Net asset To
Slide 23: Questions?
Questions? Susann Linde, CFO & Head of Investor Relations susann.linde@wallenstam.se
Slide 24: Slide 24