John Mattson (JOMA) Q1 2026 earnings summary

Executive summary

• Strong growth achieved despite a challenging start to the year, with operational strength and project development progress highlighted.

• Rental revenue increased 4.1% year-over-year to SEK 172.2 million, with net operating income up 6.0% to SEK 119.2 million.

• Joint venture initiated with Besqab for residential projects and long-term collaboration, with initial projects in Lidingö and Solna.

• Proposed dividend from Turako following the sale of management properties, with a share of approximately SEK 23 million.

• Divestments of two residential properties generated premiums of 15.3% and 11.1% over carrying amounts.

Financial highlights

• Management result per share increased by 9.8% year-over-year, close to the 10% target.

• Long-term net asset value per share rose by 7.1% year-over-year, exceeding the 7% target.

• Operating surplus improved by 6.0% year-over-year, with a surplus ratio of 69.2% for the quarter.

• Net profit for the period was SEK 152.2 million, up from SEK 134.0 million in Q1 2025.

• Rental income grew by 4.1% compared to Q1 2025, while property costs increased by only 0.2%.

Outlook and guidance

• Preparations for new production in 2026 are on track, with a 15-year lease signed for a new nursing and care home.

• The company targets average annual NRV per share growth of at least 7% and income from property management per share growth of at least 10% over a business cycle.

• Dividend policy set at 30% of annual income from property management after tax, subject to investment and liquidity needs.

• Ongoing development projects and new joint ventures expected to support future growth.