Fastighets Ab Balder Class B · OMXSTO:BALD_B
Fastighets Ab Balder Class B — Q3 2026 Earnings Presentation
18 slides from Fastighets Ab Balder Class B's earnings presentation, Oct 23, 2026
Slide 1: Conference Call Q3 2026
CONFERENCE CALL Q3 2026 O| BAL DER
Slide 2: Balder at a Glance
BALDER AT A GLANCE PORTFOLIO CARRYING VALUE SEK BILLION S&P RATINGS % YEARS Residential 246 BBB 95 13.2 47% 53% PORTFOLIO OFFICIAL OCCUPANCY AVG. LEASE DURATION Commercial VALUE RATING RATE 10 LARGEST LEASES % TIMES SEK BILLION SEK % 50.2 2.4 25 97.03 24 NET DEBT TO INTEREST AVAILABLE NAV PER NAV GR
Slide 3: Fastighets AB Balder Q3 2026
FASTIGHETS AB BALDER Q3 2026 • Rental income SEK 3,642m, increase 6% • Net operating income SEK 2,836m, increase 6% • Profit from property management per share adjusted for the effect of the distribution of Norion in the comparative figures corresponds to an increase of 11%. Without adjustment Profi
Slide 4: Current Earnings Capacity
CURRENT EARNINGS CAPACITY 2026 2026 2026 2025 2025 2025 2025 2024 2024 SEKm 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep Rental income 14,700 14,500 14,200 13,800 13,800 13,700 13,500 13,800 13,000 Property costs -3,500 -3,500 -3,400 -3,300 -3,300 -3,300 -3,200 -3,400 -3,200 Net op
Slide 5: A Well-Diversified Portfolio
A WELL-DIVERSIFIED 80% PORTFOLIO Of the property portfolio located in capitals and larger cities CARRYING AMOUNT DISTRIBUTED BY REGION Total real estate portfolio, % Helsinki 24% Gothenburg 20% Stockholm 14% East 13% Copenhagen 12% North 9% South 8% CARRYING AMOUNT DISTRIBUTED BY PROPERTY CATEGORY T
Slide 6: Long Track-Record of Delivering Value
LONG TRACK-RECORD OF DELIVERING VALUE Profit from property management (SEKm) 7 000 Profit from property management (SEK/Share) 6,00 6 389 6 139 6 135 6 011 5 936 6 000 5 543 5,04 5,00 5 000 4 244 4,00 4 023 4 000 3 304 3,00 2 804 3 000 2,00 2 000 1,00 1 000 0 0,00 2017 2018 2019 2020 2021 2022 2023
Slide 7: While Improving Operational Stability and Reducing Leverage
…WHILE IMPROVING OPERATIONAL STABILITY AND REDUCING LEVERAGE Portfolio value, (SEKm) Net debt to total assets, % Occupancy rate, % 246 060 200 000 95% 60% 50,2% 40% 90% 100 000 20% 0 0% 80% Long track record of value creation through strong Strong population growth and urbanisation Continuous levera
Slide 8: Financing
FINANCING INTEREST FIXING STRUCTURE Year SEKm Interest, % Proportion, % 2026 42,667 3.1* 28 6% 0% 2027 21,757 2.4 14 2028 21,578 3.0 14 69 479 2029 17,709 2.2 11 48% 85 599 2030 13,576 2.2 9 45% 2031 17,594 3.0 11 2032 9,603 3.8 6 2033 5,666 4.1 4 2034 1,239 2.8 1 Unsecured loans, 55% 2035 - - - Sec
Slide 9: Financing
FINANCING Portfolio Value (SEKm) and Net Debt to Total Assets (%) Portfolio value (SEKm) Net debt to total assets, % Secured debt to total assets, % 250 000 246 060 80% Secured debt to total 70% assets 24.1% 200 000 60% 150 000 50,2% 50% 75% of the debt is hedged 40% with interest swaps and 100 000
Slide 10: Financing
FINANCING MATURITY STRUCTURE BANK LOANS MATURITY STRUCTURE BONDS AND COMMERCIAL PAPER 25 000 25 000 20 000 20 000 15 000 15 000 10 000 10 000 5 000 5 000 0 0 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036- 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036- Bank loans Commercial paper Bo
Slide 11: Asset Liability Management
ASSET LIABILITY MANAGEMENT Leverage & capital allocation Funding strategy • Continued balanced capital allocation until reaching 11 • Long term bond issuer in both SEK and EUR – probably times Net Debt/EBITDA on a reported rolling 12 months a 50/50 split bonds vs bank financing is reasonable basis,
Slide 12: The Share
THE SHARE Share price development over time Share price development in relation to NAV and Profit from property management Share price, Net asset value (NAV) Profit from property management Share price/Net asset value (NAV), % Share price/Profit from property SEK/share SEK/share management, times 12
Slide 13: Consolidated Statement of Comprehensive Income
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 2026 2025 SEKm Jul-Sep Jul-Sep Deviation, Δ % Rental income 3,642 3,444 6 Property costs –806 –766 Net operating income 2,836 2,678 6 Management and administrative costs –284 –271 Participation in the profits of associated companies/joint ventures –133
Slide 14: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 2026 2025 SEKm 30 September 30 September Assets Investment properties 242,745 225,927 Development properties 3,315 3,547 Lease contract; Right-of-use assets 2,336 2,570 Goodwill 142 – Other fixed assets 284 311 Participations in associated companies/joint
Slide 15: Shareholders as of 30 September 2026
SHAREHOLDERS AS OF 30 SEPTEMBER 2026 Owner A shares B shares Total no shares Capital, % Votes, % Erik Selin via company 49,855,968 343,385,400 393,241,368 33.0 46.9 Arvid Svensson Invest AB 17,495,352 73,799,819 91,295,171 7.7 13.8 AMF Fonder & Pension - 73,719,722 73,719,722 6.2 4.1 Swedbank Robur
Slide 16: Associated Companies
ASSOCIATED COMPANIES Unique competence Financially strong co-owners segment or competence CAPITAL ALLOCATION Entrepreneurial capacity to build Sinoma portfolio Increased owning over time 16
Slide 17: Balder's Sustainability Framework
BALDER’S SUSTAINABILITY FRAMEWORK E ENVIRONMENTAL S SOCIAL G GOVERNANCE Own employees Climate change Workers in the value chain Water Business conduct Customers and social area Resource use and circular economy development Targets Targets Targets • 50% reduction in emissions from own operations by 2
Slide 18: Q&A
Q&A