Fastpartner: Higher costs driving deviation - ABG

Rec PTP -2% vs ABGSCe, driven by higher property costs
Vacancies up slightly, property values flat
Share to trade slightly below the sector today


Rec PTP -2% vs ABGSCe

Fastpartner delivered a Q1 report with rental income of SEK 572m (1.4% vs ABGSCe of SEK 580m and 1.3% y-o-y), while NOI amounted to SEK 374m (-4.6% vs ABGSCe of SEK 392m and -2.7% y-o-y). The NOI margin amounted to 65.4% vs ABGSCe at 67.5% and 66.3% in 1Q'24. Rec. PTP amounted to SEK 185m (-2.2% vs ABGSCe of SEK 189m and 32.9% y-o-y). Occupancy was down q-o-q at 91.7% (92.4% in Q4), and 92.0% (92.4% in Q4) adjusted for projects.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/fastpartner/Equity-research/2025/4/fastpartner---higher-costs-driving-deviation/