Intea Fastigheter (INTEA) investor relations material

Executive summary

• Rental income rose 28.1% year-over-year to SEK 456 million, with like-for-like growth of 2.4%.

• Profit from property management increased 33.3% to SEK 264 million, and profit after tax reached SEK 470 million.

• Property value at period-end was SEK 28.7 billion, up from SEK 28.0 billion, with contracted rent at SEK 1.8 billion.

• Major acquisitions included a government property in Uppsala and the Skärholmen police station, expanding the portfolio and increasing contracted annual rental value.

• Economic occupancy rate was 98.8%, and 97% of rental income came from public-sector tenants.

Financial highlights

• Net operating income increased 25.9% year-over-year to SEK 370 million, with a surplus ratio of 81.1%.

• Loan-to-value ratio improved to 46.5% from 49.8% a year earlier.

• Interest coverage ratio was 3.9x, and average interest rate on borrowings was 2.75%.

• EPRA NRV per share increased to SEK 55.97, up 18.9% year-over-year.

• Profit from property management per share at SEK 1.06 for Q1.

Outlook and guidance

• Ongoing and planned investments in justice and public sector properties total just over SEK 13 billion, with more than SEK 11 billion yet to be invested and expected completion over five years.

• Estimated additional rental income from ongoing projects is approximately 52%, with a projected rental value of over SEK 2.7 billion upon completion.

• Management maintains a positive market outlook, citing stable operations, strong demand from public sector tenants, and future growth opportunities.