Vasakronan's year-end report 2025

04 Feb 2026 12:00 CET

Income from property management up in eventful year

· Rental revenue amounted to SEK 9,503 million (9,447). In comparable property
holdings, the decrease in rental revenue was 1%.
· New lettings corresponding to 140,000 square metres (128,000) and annual
rent of SEK 670 million (697) were contracted. Net lettings amounted to negative
SEK 168 million (negative: 214).
· The occupancy rate was 87.7% compared with 89.1% at the end of 2024.
· Operating surplus amounted to SEK 7,037 million (7,055). For comparable
property holdings, the decrease was 2%. The decrease was explained by one item
affecting comparability of SEK 25 million arising from the unwinding of
provisions for profit-sharing for 2023.
· Net interest amounted to an expense of SEK 1,853 million (expense: 1,885).
The decrease was primarily due to lower market interest rates.
· The interest coverage ratio amounted to a multiple of 3.6 (3.6).
· Income from property management amounted to SEK 4,886 million (4,845), up
1%.
· The change in value of investment properties amounted to a decrease of SEK
850 million (increase: 44), corresponding to a decrease of 0.5%. The property
portfolio market value amounted to SEK 181,812 million compared with SEK 178,183
million at the end of 2024, with the majority of the increase due to the
acquisition of Solna United.
· The Board will come with a proposal for the dividend in conjunction with the
notice of the Annual General Meeting.

"While 2025 has been an intense year with many customer dialogues, our operating
activities have delivered stable earnings. This clearly showcases the robustness
of Vasakronan's business model, our cost discipline and ability to prioritise
correctly," says Johanna Skogestig, CEO of Vasakronan.

"Our entire focus is now on increasing lettings, both by attracting new
customers and by strengthening relationships with our existing customers,"
concludes Johanna Skogestig.

This information is of such a kind that Vasakronan AB (publ) is legally required
to disclose pursuant to the EU's Market Abuse Regulation and the Swedish
Securities Market Act. The information was submitted for publication through the
agency of the above contact people on 4 February 2026, at 12 o'clock noon CET.

For further information, please contact:

Johanna Skogestig
CEO of Vasakronan
Tel: +46 (0)73 068 75 17
E-mail: johanna.skogestig@vasakronan.se

Johnny Engman
Chief Financial Officer
Tel: +46 (0)70 355 59 27
E-mail: Johnny.engman@vasakronan.se

Vasakronan is Sweden's leading property company with a portfolio valued at
around SEK 182 billion. The portfolio is focused on centrally located office and
retail properties in the growth regions of Stockholm, Uppsala, Gothenburg and
Malmö. In terms of city retail, Vasakronan is the largest in all regions. The
property portfolio comprises 165 properties with a total area of about 2.4
million square metres. The company is owned by the Second, Third and Fourth
Swedish national pension funds. Our assignment is to generate a high, risk
-weighted return. Though never at the expense of the environment and
people. Read more at www.vasakronan.se

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