Fastighets AB Balder (OTCPK:BALDF)

Q1 2026 Fastighets AB Balder Earnings Call Transcript

May 08, 2026 / 06:45AM GMT

Release Date Price: $5.42

Transcript

Key Points

Positve

Fastighets AB Balder (BALDF) maintains a high occupancy rate of 95%, indicating strong demand for its properties.
The company has a robust liquidity position with 22 billion SEK available, providing financial flexibility.
Fastighets AB Balder (BALDF) has a strong credit rating from S&P, rated as triple D flat, which was recently confirmed.
The company has a long-term growth compounding rate of 25% since inception, showcasing consistent growth over time.
Fastighets AB Balder (BALDF) has been active in the bond market, taking advantage of favorable conditions to issue bonds in both Euro and SEK.

Negative

Rental income growth was only 1% for the quarter, which is considered low by the company's standards.
Profit from property management decreased by 12%, impacted by the distribution of Nubrion shares.
Currency effects and a colder climate negatively impacted net operating income (NOI) and rental income.
The company's net debt to total assets ratio increased during the quarter due to reclassification and currency movements.
The office segment experienced some weakness in occupancy, contributing to a slightly lower overall occupancy rate.

Operator

Welcome to the Balder Q1 Report 2026.

(Operator Instructions) Now I will hand the conference over to I.R. Jonas Erickson. Please go ahead.

Jonas Erickson

fastighets - Investor Relations

Good morning, everyone. Welcome to this presentation for Balder's first quarter results 2026.

My name is Jonas Erickson, Investor Relations, and with me in the room, I have Erik Selin, CEO, and Ewa Wassberg, CFO. I'll hand over to Erik and Eva for some opening slides, and then we'll open for questions after that.

Erik Selin

Fastighets AB Balder - Chief Executive Officer, Director

Thanks, Jonas.

Looking at Baldr at a glance, the overall picture, you can see that it's a Nordic real estate exposure.

Roughly half is residential and half is commercial.

By this quarter, we had a portfolio value of 237 billion Swedish kroner, occupancy rate 95%, net debt 49%.

We have good liquidity of 22 billion NAV per share, stands now at 96.6 and that's.

Growth compounding rate of 25%

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