Vasakronan’s interim report January–September 2025

• Rental revenue amounted to SEK 7,049 million (7,048). In comparable property holdings, the decrease in rental revenue was 1%.
• New lettings corresponding to 103,000 square metres (128,000) and annual rent of SEK 469 million (697) were contracted. Net lettings amounted to negative SEK 7 million (negative: 197).
• The occupancy rate was 87.9% compared with 89.1% at the end of 2024.
• Operating surplus decreased 1% to SEK 5,231 million (5,271). For comparable property holdings, the decrease was 2%. The decrease was explained in part by one item affecting comparability of SEK 25 million arising from the unwinding of provisions for profit-sharing for 2023.
• Net interest amounted to an expense of SEK 1,367 million (expense: 1,422). The decrease was primarily due to lower market interest rates.
• The interest coverage ratio amounted to a multiple of 3.7 (3.5). The increase was due to an improved net interest outcome.
• Income from property management amounted to SEK 3,650 million (3,607), up 1%.
• The change in value of investment properties amounted to an increase of SEK 339 million (585), corresponding to an increase of 0.2%. The property portfolio value amounted to SEK 182,076 million, compared to SEK 178,183 million at the end of 2024, due in part to the acquisition of Solna United.

“Demand for offices has increased after the summer and net lettings for the quarter were positive. It is too early to tell if this represents a turning point in the market and the company’s primary focus remains on increasing the occupancy rate,” says Johanna Skogestig, CEO of Vasakronan.

“Financially we remain strong and posted improved income from property management for the quarter. Our strong balance sheet and good access to capital in the banking and capital markets mean that we have all the conditions in place to continue to develop our operations, to seize opportunities that arise and to create value,” concludes Johanna Skogestig.