Q1 2026 Dios Fastigheter AB Earnings Call Transcript
Key Points
- Dios Fastigheter AB (FRA:D1F) reported positive net letting of $15 million, indicating strong demand for their premises.
- Economic occupancy remained stable at 90%, aligning with historical averages despite economic challenges.
- The company maintained a surplus ratio of 65%, demonstrating efficient operational management.
- Property values were supported by strong leasing activity, with transactions completed at book value confirming asset valuations.
- Dios Fastigheter AB (FRA:D1F) has a well-diversified portfolio with 32% of rental income derived from public sector tenants, providing a stable income base.
- Higher interest rates increased the average interest rate to 4.1%, impacting financial costs.
- Geopolitical uncertainty and economic slowdown in Sweden have led to tenants taking longer to make leasing decisions.
- Colder weather resulted in higher electricity and heating costs, affecting operational expenses.
- The inflation assumption for the first year was reduced, and higher operating costs negatively impacted property values by approximately $110 million.
- Loan-to-value ratio stands at 53.2%, and net debt to EBITDA is at 10 times, indicating a relatively high leverage.
Ladies and gentlemen, thank you for joining us and welcome to the DIOS Fastigator AB Interim Report, January through March 2026.
After today's prepared remarks, we will host a question-and-answer session. If you would like to ask a question, please press *1 to raise your hand on your telephone keypad. I will now hand the conference over to Johan Dernmar, Chief of Investor Relations at DIOS. Please go ahead.
Good morning, and welcome to the US Interim Report for the first quarter 2026.
We're reporting on the period January through March.
It was a quarter marked by continued geopolitical uncertainty and somewhat higher interest rates.
Against that backdrop, our message is clear. The US continues to deliver stable operational performance.
Supported by strong leasing activity, resilient occupancy, and disciplined capital allocation.
David will start briefly by summarizing the quarter, then Rolf will move on to the operational development and the
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