VD Hans Wallenstam och v VD / CFO Susann Linde kommenterar första halvåret 2026.
What Hans Wallenstam said
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Hans Wallenstam, CEO of Wallenstam, presented the Q2 2026 interim report from the Valvet property in Gothenburg, which was acquired from Handelsbanken and is being refined for new tenant Mullvad VPN. He reported income from property management of roughly 630 million SEK for the first six months, excluding non-recurring revenue and the Sergel's scraper vacation, showing growth versus last year. He highlighted a 97% occupancy rate, 9 out of 10 commercial tenants renewing, and a housing queue of 325,000 people. Wallenstam discussed the new Investments business area, created to focus on quality and craftsmanship in new construction due to higher rents from increased costs. He noted new building regulations allowing conversion of attics and basements into lettable space, contributing to value changes of just over 400 million SEK. He announced the sale of wind farms to Locus Energy on July 1, with details to come in Q3. Investments totaled 1.4 billion SEK, including 355 new apartments started. Key ratios: equity/assets 43%, loan-to-value 48%, net asset value SEK 63.10 per share, targeting SEK 80 by 2030.
Key takeaways
Income from property management for H1 2026 was roughly 630 million SEK, excluding non-recurring revenue and Sergel's scraper vacation, showing growth.
Occupancy rate is 97%, and 9 out of 10 commercial tenants renew contracts.
Wallenstam completed the sale of its wind farms to Locus Energy on July 1, 2026, with details to be reported in Q3.
Invested 1.4 billion SEK in new construction and reconstruction in H1 2026, starting 355 apartments.
Net asset value per share is SEK 63.10, targeting SEK 80 by 2030.
We're right in the heart of Gothenburg. This is where we find Gustaf Adolfs Torg square and Brunnsparken. And what else? The Valvet building. A property we acquired a few years ago from Handelsbanken. We've been refining and developing the floor space in a way which has made it more efficient and very attractive. So let's go inside and see what the interior looks like and to summarise the income statement.
As you can see, we're in the middle of a construction site. Mullvad VPN will be moving in here. We've removed the joists above our heads here in order to get a space with more light which will be rented as office premises. We try to refine each project and make the most of the space available. So, that's where we're at. It's in an amazing location. If we summarise the first six months for Wallenstam, our income from property management amounts to roughly 630 million. Excluding the non-recurring revenue we had in the corresponding period last year and also excluding the vacation of the Sergel's scraper, we report a positive result, or growth, compared to the previous year.
I would say the business itself. We have an incredible lettings team which manage to maintain an occupancy rate of 97%. Apart from the strong occupancy rate, at least 9 out of 10 commercial tenants choose to stay with us when their contracts expire. To me that suggests they are happy with Wallenstam as a landlord, something I'm very proud of. We have 325,000 people in our housing queue, so it's a huge responsibility to try to generate apartments for as many as possible. It's a huge social responsibility and I see our new construction projects as something very positive. We also work continuously with energy investments. Our aim is to achieve at least energy class C for all our properties. We're working hard on that, which is something I'm also very proud of. This property, where we've made a lot of energy savings, is a good example. Another thing we've done this year, which we also mentioned in our previous film, is that we've started a new business area, Investments.
We had a very special situation after the Covid pandemic and the inflation shock has resulted in a dramatic increase in construction costs. Unfortunately, as a consequence rents have increased significantly in our new construction. This means that we have to produce even better products, even more wow products, for our tenants so they feel it's worth paying that level of rent. It's about further increasing the focus on quality. We're always in great locations. Each apartment needs to be characterised by craftsmanship where each apartment feels unique. So that's the aim of this reorganisation.
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Wallenstam, H. (2026, July 6). Wallenstam delårsrapport 2, 2026 [Interview transcript]. Wallenstam AB. CEOInterviews.AI. https://ceointerviews.ai/interview/1108055/
