ALM Equity (ALM) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was 170 MSEK, down from 278 MSEK year-over-year, with a net loss of -107 MSEK compared to -163 MSEK last year.

• The quarter was marked by the completion of the Storstaden Stockholm Bostad AB acquisition and the start of construction for 357 rental apartments in Bromma.

• All managed properties achieved BREEAM In Use certification, making the entire portfolio environmentally certified.

Financial highlights

• Operating result for the quarter was -11 MSEK, improved from -36 MSEK year-over-year.

• Unrealized value changes in financial assets were -74 MSEK, mainly due to declines in Besqab (-45 MSEK) and Klövern (-29 MSEK) holdings.

• Finance net was -21 MSEK, with interest expenses on bonds at -20 MSEK.

• Cash flow for the quarter was -140 MSEK, mainly due to the Storstaden acquisition and dividend payments.

• Cash and cash equivalents at period end were 680 MSEK, down from 1,083 MSEK year-over-year.

Outlook and guidance

• The company plans to start construction on additional phases in the Archimedes project, targeting 549 more homes in 2026.

• The goal remains to start about 1,000 homes per year in coming years.

• The construction business expects to reach around 2,000 homes in production by year-end, with 870 internal and 200–300 external units.