KlaraBo Interim Report for January-June 2026: Improved net operating income and income from property management

Highlights of the second quarter 2026

• Rental income amounted to SEK 189.0 million (180.5), an increase of 4.7 per cent compared with the corresponding quarter last year, primarily driven by the annual rent increases and completed apartment refurbishments.
• Net operating income amounted to SEK 115.4 million (109.6), up 5.3 per cent. Continued cost discipline and higher rental income from refurbishment activities helped mitigate the impact of higher energy prices.
• Income from property management amounted to SEK 49.4 million (46.5), an increase of 6.2 per cent, despite higher leverage.
• Changes in the value of investment properties amounted to SEK -4.4 million (33.5), entirely attributable to unrealised fair value changes.
• Changes in the value of derivatives amounted to SEK -53.8 million (-68.4), driven by lower market interest rates.
• Profit for the quarter amounted to SEK -11.3 million (6.7). The decline compared with the previous year was attributable to negative unrealised fair value changes during the period.

Significant events during the period

• KlaraBo repurchased own shares for SEK 35.7 million. As of 30 June 2026, the company held 7,592,900 treasury shares, corresponding to 4.8 per cent of the total number of shares outstanding.
• KlaraBo refinanced bank loans totalling SEK 1,290.1 million at lower margins. All loans maturing in 2026 were extended, while revolving credit facilities were increased by SEK 150 million to a total of SEK 250 million.
• KlaraBo entered into a conditional agreement with Episurf regarding the divestment of a portfolio of non-strategic properties in Bollnäs, Västervik and Trelleborg. The consideration comprises external financing, secured promissory notes of SEK 245 million with quarterly interest payments, and SEK 130 million in Episurf shares at a price of SEK 0.045 per share.
• The Board of Directors adopted an updated dividend policy under which up to 25 per cent of the company's annual income from property management will be distributed to shareholders.
• The Annual General Meeting resolved on the company's first dividend of SEK 0.25 per share, corresponding to approximately SEK 37 million, which was paid in May.
• On 18 May 2026, KlaraBo and Sveafastigheter announced that their respective Boards of Directors had adopted a joint merger plan under which Sveafastigheter will acquire KlaraBo through a statutory merger. As part of the transaction, KlaraBo also entered into an agreement to acquire a property portfolio from SBB comprising approximately 4,100 apartments. The transaction also includes a proposal for a conditional extraordinary dividend of SEK 1.40 per share to KlaraBo's shareholders. The merger, the portfolio acquisition and the extraordinary dividend are interdependent and subject to customary regulatory approvals and shareholder resolutions. If completed, the combined company will comprise approximately 26,500 apartments and become the largest listed residential company on Nasdaq Stockholm. The transaction is expected to generate annual cost and operational synergies of at least SEK 120 million.
• On 26 June, KlaraBo held an Extraordinary General Meeting which approved the announced merger with Sveafastigheter. The merger is expected to be completed in September 2026, subject to the fulfilment of all conditions. In connection with the approval, shareholders also resolved on a conditional extraordinary dividend of SEK 1.40 per share, payable upon completion of the merger. The meeting also approved a directed share issue to SBB and amendments to the Articles of Association.
• Annual eNPS (Employee Net Promoter Score) reached 50, up from 43 last year. The score is at the top end of the "very good" range, reflecting a strong corporate culture with high employee engagement and loyalty.

Significant events after the period

• KlaraBo completed the previously announced divestment of the property portfolio in Bollnäs, Västervik and Trelleborg. The economic divestment of the entire portfolio took place on 30 June 2026, while legal completion for the majority of the properties took place on 2 July 2026. Legal completion of one remaining property will take place unconditionally within 18 months.

Presentation of the results
KlaraBo's CEO Andreas Morfiadakis and Deputy CEO/CFO Magnus Nordholm will present the interim report via Microsoft Teams. The presentation will be held in Swedish on 10 July at 09:00 CEST.

Click here to join the presentation

The presentation will be followed by a Q&A session, during which participants may ask questions either verbally by raising their hand or in writing via the chat function.

The presentation will also be available at klarabo.se.