Q1 2026 Atrium Ljungberg AB Earnings Call Transcript
Key Points
- Rental income increased by 3.3% in Q1 2026 compared to Q1 2025, driven by new rental income from completed projects.
- Retail destinations showed a positive trend with increased visitor numbers and turnover in January and February.
- The residential market developed positively with housing prices increasing and a significant rise in sales rate from 45% to 71% during the quarter.
- Atrium Ljungberg AB completed two major projects during the quarter, including a fully let refurbishment and a housing cooperative project.
- The company maintains a strong financial position with ample available liquidity totaling SEK9.4 billion.
- Net letting amounted to minus SEK8 million in the first quarter, with a larger lease not completed as planned.
- Profits from property management decreased by 3.5% due to increased heating costs, snow clearance, and higher interest costs.
- Occupancy rate declined from 89% to 88.1% during the quarter, partly due to a renegotiation of a major lease.
- Property values were adjusted down by 0.4%, with negative value development driven by changes in yield requirements and lower inflation assumptions.
- A house, the co-working company, reported a minus SEK6 million impact on operating surplus and is expected to continue reporting losses throughout 2026.
Hello, And welcome to Atrium Ljungberg's presentation of Q1 2026. The headline for this report is strong finances and strong locations in a changing world.
Let me begin by summarizing the key developments this quarter. Overall, I can note that the global geopolitical conditions remain uncertain, where we have had the military operation in Venezuela, the hostile voice around Greenland and the military aggression in Iran, all in the first quarter. It seems like most business still think the war will end in a short time, and the office rental market has not changed since last quarter.
Our net letting amounted to minus SEK8 million in the first quarter. I had, of course, hoped for a positive number, but must state that a larger lease was unfortunately not completed in the beginning of the year as management did not receive Board approval for the relocation and consequently remained in their current premises. And the fact is that net letting is always weaker in the first quarter. We had growth in our rental income of 3%, but profit
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