Klarabo Sverige Ab Class B · OMXSTO:KLARA_B
Klarabo Sverige Ab Class B — Q1 2026 Earnings Presentation
14 slides from Klarabo Sverige Ab Class B's earnings presentation, Apr 29, 2026
Slide 1: Welcome to the presentation - Q1 interim report
Welcome to the presentation - Q1 interim report Jan-Mar 2026 Andreas Morfiadakis, Magnus Nordholm, CEO Deputy CEO/CFO
Slide 2: Key highlights
Key highlights
Slide 3: Q1 at a glance
Q1 at a glance Share buybacks Repurchased ~2.2m shares at total cost of SEK 35.7m. KlaraBo holds in total ~4.8 % of total shares outstanding. Positive effect on NAV per share. Refinancing and improved margins Refinanced SEK 1,290.4m at a weighted average margin of 1.05 %, down from 1.44 %. Strengthe
Slide 4: Improved operations despite higher tariff-related costs
Improved operations despite Revenue Revenue +7.6 % YoY, based on higher tariff-related costs transactions as well as general rental negotiations and effects from refurbishments. 2026 2025 2025 MSEK Jan-Mar Jan-Mar Jan-Dec Slightly higher vacancy. Revenue 188.5 175.1 720.4 Costs -103.1 -91.9 -313
Slide 5: Improved operations despite higher tariff-related costs
Improved operations despite Income from property management Negative development primarily due to cold start of the year, higher tariff-related higher tariff-related costs costs and higher interest rate. SEK 0.13 per share, a decrease since 2026 2025 2025 last year at SEK 0.16. MSEK Jan-Mar Jan-
Slide 6: Increased NAV per share
Property value of SEK 10.8bn Increased NAV per share Property value, including properties held for sale, of SEK 10.8bn at 4.95 % yield (slight yield increase like for like). 2026 2025 2025 MSEK 31 mar 31 mar 31 dec Change in property value YoY SEK +472m Intangible assets 0.1 0.2 0.1 Primarily dr
Slide 7: Current earnings capacity
Scope Current earnings capacity Does not take into consideration the conditional Episurf transaction. Rental revenue – SEK +10.0m SEK m 2026-04-01 2026-01-01 Full effect from annual rent increase Rental revenue 763.3 753.3 included, corresponding to a weighted Property expenses -329.0 -324.2 tot
Slide 8: Financing at March 2026
Financing at 31 March 2026 45% 45% 40% 40% 35% 35% 30% 30% 25% 25% 20% 20% 15% 15% 10% 10% 5% 5% 0% 0% <3 months >=3m <3 yr >=3 yr <5 yr >=5 yr <7 yr >=7 yr <1 yr >=1 yr >=2 yr >=3 yr >=4 yr >5 yr <2 yr <3 yr <4 yr <5 yr Interest rate and hedging Debt maturity and refinancing Average interest rate
Slide 9: Refurbishment – measurable impact
77% of refurbishments in Refurbishment – measurable impact cluster locations (LTM) RENTAL UPLIFT +30-45% Increase in rent levels after refurbishment RENT LEVELS (SEK/SQM) +37% +44% +32% +46% 1,750 1,800 1,790 1,710 1,280 1,250 1,360 1,170 Trelleborg Helsingborg Visby Östersund Before refurbishment A
Slide 10: Continued value growth
Historical net value growth LTM 2019 – Q1 2026 Q2 2025 – Q1 2026 Continued value growth SEK 48m SEK 9.4m Accumulated rental Rental increase increase (annual basis) from refurbishments from refurbishments Percentage points / / 4.0 % 4.7 % 140.0 Average historical Average weighted yield weighted yield
Slide 11: Market value by cluster and location
Annual housing need per Market value, SEK million Q4 2024 Q1 2026* 1,000 inhabitants by FA region Östersund Östersund 895 1,194 0 0.01-0.99 Visby 1,315 1,381 1.00-1.99 Helsingborg 192 1,269 2.00-2.99 Trelleborg 1,643 1,948 3.00-3.99 Locations >70 thousand 4.00-4.99 1,423 1,395 inhabitants 5.00-8.10
Slide 12: Current trading and Summary
Current trading and Summary
Slide 13: We continue to strengthen and consolidate KlaraBo
We continue to strengthen and consolidate KlaraBo 38 apartments refurbished in Q1 (168 in YoY 2025), 9,3 % average return in Q1 – distinctly higher than our long-term average of ~8 % and ~9 % LTM. Significant portfolio optimisation effort creating a more focused portfolio in line with our strate
Slide 14: Andreas Morfiadakis, CEO; Magnus Nordholm, deputy CEO/CFO
Andreas Morfiadakis, Magnus Nordholm, CEO deputy CEO/CFO 14