Fastighetsbolaget Emilshus AB (publ) Interim Report January-June 2026
January–June 2026
- Rental income increased 31% to MSEK 545 (415).
- Profit from property management increased 27% to MSEK 241 (190).
- Profit from property management per ordinary share increased 18% to SEK 1.66 (1.41) per ordinary share.
- Profit for the period amounted to MSEK 293 (211), corresponding to SEK 2.04 (1.59) per ordinary share.
- Changes in value of investment properties impacted earnings by MSEK 97 (128).
- Changes in value of financial instruments impacted earnings by MSEK –9 (–62).
- Operating cash flow increased 25% and totaled MSEK 221 (177).
- Net investments totaled MSEK 1,142, of which MSEK 1,065 pertained to property transactions.
April–June 2026
- Rental income increased 29% to MSEK 274 (213).
- Profit from property management increased 28% to MSEK 125 (98).
- Profit from property management per ordinary share increased 24% to SEK 0.86 (0.69) per ordinary share.
- Profit for the period amounted to MSEK 121 (78), corresponding to SEK 0.79 (0.53) per ordinary share.
- Changes in value of investment properties impacted earnings by MSEK 64 (66).
- Changes in value of financial instruments impacted earnings by MSEK –53 (–70).
- Operating cash flow increased 25% and totaled MSEK 115 (92).
- Net investments totaled MSEK 417, of which MSEK 375 pertained to property transactions.
Adjusted forecast for 2026
- For 2026, it is estimated that profit from property management with the current property portfolio and announced acquisitions will total MSEK 495. The previously issued forecast was MSEK 490, which was announced in connection with the publication of the Interim Report for January–March 2026.
Significant events during the quarter
- In April, Emilshus announced that it had acquired four properties in the light industry category in Linköping and Vaggeryd, for MSEK 217. Closing of two properties took place in March 2026, the remaining two properties were closed during the second quarter of 2026.
- In April, Emilshus announced that it had acquired ten properties in the light industry category in several locations, for MSEK 614. Closing is expected to take place in July 2026.
- In June, Emilshus carried out a directed issue of 12 million preference shares and received MSEK 360 before transaction-related costs.
Significant events after the end of the period
- In July, Emilshus announced that it had acquired ten properties in the light industry category in several locations, for MSEK 456. Closing for five of the properties took place during the second quarter, and closing for two additional properties took place in July. Of the remaining three properties, closing for one property is expected to take place in the third quarter and for the other two in the fourth quarter.
CEO comments – "Rapid growth rate with good profitability"
Emilshus continued to grow at a rapid pace, with good profitability, during the second quarter. With our most recently announced acquisitions, the company is approaching BSEK 15 in property value. At the same time, property management operations performed well, with positive net letting during the quarter while maintaining a high occupancy rate. The forecast for full-year 2026 has been adjusted upwards, to a profit from property management of MSEK 495.
Income for the first half of the year increased 31% year-on-year to MSEK 545, and profit from property management rose 27% to MSEK 241. Profit from property management per ordinary share increased 18% for the period and 21% for LTM, well above our financial target of 15% per year. Operating cash flow during the period posted growth of 25%, totaling MSEK 221.
Profit from property management per share during the second quarter increased 24% year-on-year, and operating cash flow rose 25%.
Enhanced property management
Emilshus has significantly enhanced its property management organization since the autumn of 2025, keeping pace with the company’s growth, and is now well established in our priority locations with an organization that is serving as a solid base for efficient and customer-centric property management.
We are reporting positive net letting of MSEK 2 for the second quarter, fueled by several completed renegotiations and new lettings during the spring. The occupancy rate remains stable, at a high 95%, and the average remaining lease term amounts to 5.1 years. This strong performance is the result of firm, proactive efforts in the property management organization, where a local base is crucial.
Value-generating projects
Emilshus is pursuing ongoing projects in the form of tenant-specific modifications and extensions of existing properties in order to generate value and meet its tenants’ needs. When we see opportunities for good returns in the right locations, we can also opt to acquire partially vacant buildings and land for new construction. During the third quarter, we will begin a new construction project for premises in the light industry category on an ideally situated plot of land in Malmö, with a new 15-year lease agreement in place before construction starts. Improvements to the energy efficiency of properties are ongoing, with notable energy savings being achieved in completed projects.
High transaction capacity
During the quarter, Emilshus continued to grow where we want to grow, with tenants and at yield levels that match the company’s requirements. Acquisitions were completed in all of our markets, with an emphasis on the light industry category and the Skåne and Östergötland regions. We are also open to transactions in neighboring regions when we identify good business opportunities. One of the latest acquisitions is a property in Västergötland, in a prime location in Skövde. We already own a few properties in the region, in areas on the Småland border. To date this year, Emilshus has signed acquisition agreements valued at MSEK 1,623, supporting an increase of 18% in property value since the beginning of the year. This high acquisition rate is facilitated by a well-established acquisition process and good access to financing.
In June, Emilshus carried out a directed issue of preference shares, with the general public also being offered the opportunity to subscribe shares through Avanza’s platform. Demand was high, which we regard as confirmation that Emilshus is an attractive company for both professional and private investors. As a result of the new share issue, the company raised a total of MSEK 360 before transaction-related costs.
With available capital and an enhanced organization, Emilshus is highly capable of continuing to drive profitable growth – and we have demonstrated that we can conclude attractive acquisitions regardless of market conditions.
Växjö, July 2026
Jakob Fyrberg, CEO
Report presentation
Telephone conference (only in Swedish)
When: Friday July 10, 09:00 a.m.
To call in and ask questions call: +46 8 5052 0017, then enter Meeting ID: 851 4973 8524 #
To ask the CEO/CFO a question, please press *9 on the phone.
The presentation is webcasted (only in Swedish)
Link to the webcast:
https://www.finwire.tv/webcast/emilshus/q2-2026/
The webcast will be available at www.emilshus.com following the conference call.
For more information, please contact:
Jakob Fyrberg, CEO
E-mail: jakob.fyrberg@emilshus.com
Telephone: +46 (0)70-593 95 96
About Emilshus
Emilshus is a property company rooted in the business culture of Småland that acquires, develops and manages high-yield commercial properties, with southern Sweden as its core market. The company’s property portfolio at June 30, 2026 totaled 1,256 ksqm of lettable area distributed among 260 properties with an emphasis on light industry and big-box and grocery retail. Emilshus’s ordinary share and preference share are listed on Nasdaq Stockholm.
Emilshus - Storängsgatan 7 – 352 36 Växjö – www.emilshus.com
This information is information that Fastighetsbolaget Emilshus is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-07-10 07:30 CEST.