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Fastpartner

Fastpartner

Fastpartner owns, manages and develops primarily commercial real estate. The portfolio consists mainly of offices and logistics/warehouse/production properties, but with some premises within retail and hospitality, residentials and community service properties. Greater Stockholm remains Fastpartner's most prioritised investment area, accounting for a majority of rental income. Besides Stockholm, the company focuses on Gothenburg, Gävle, Malmö, Norrköping and Uppsala.

Sustainability information

The main risk for a real estate company is the macro development in the markets in which it operates. The demand situation should be more sustainable in Stockholm given the growing population, but historically volatility has been higher in the downturns. Moreover, the major shareholder and CEO of Fastpartner, Sven-Olof Johansson, is very important to the company.

SEKm 2025 2026e 2027e
Rental income 2270 2250 2315
Rental growth -1 -0,9 2,9
NOI 1587 1570 1620
NOI margin (%) 69,9 69,8 70
CEPS 3,63 3,78 3,98
CEPS growth (%) 30,4 4,1 5,3
DPS 1,1 1,1 1,1
EPRA NRV per share 92,45 97,34 104,16
EPS 2,27 5,79 6,77
EPS adj. 0 0 N/A
P/CEPS 14,4 13,8 13,1
P/E (x) 23 9 7,7
P/EPRA NRV 0,56 0,54 0,5
Implicit yield (%) 5,3 5,2 5,3
Dividend yield (%) 2,1 2,1 2,1
Net LTV (%) 47,61 46,26 44,6
LTV (%) 0 N/A N/A
SEKm 2025 2026e 2027e
Rental income 2270 2250 2315
Other income 0 0 0
Operating costs -684 -680 -695
NOI 1587 1570 1620
NOI margin (%) 69,9 69,8 70
Adm. costs -56 -57 -59
All other income & costs 0 0 0
Recurring EBIT 1531 1512 1561
Net financial items -699 -651 -658
Income from property management 832 862 903
Value chg. realized 0 0 0
Value chg. unrealized -148 553 736
Value chg. derivatives -31 0 0
Pretax profit 653 1415 1639
Deferred tax -69 -188 -229
Current tax -99 -103 -108
Net profit 486 1124 1301
Minority interest 0 0 0
Div. Pref/D-shares and hybrids -73 -73 -73
Net profit to shareholders 412 1050 1228
Cash earnings 660 685 721
Other related information N/A N/A N/A
Tax Rate (%) 25,6 20,6 20,6
Investments in developments -510 -510 -500
Acquisitions 0 0 0
Other investments N/A N/A N/A
Divestments 0 0 0
EPS 2,27 5,79 6,77
CEPS 3,63 3,78 3,98
Dividend per share 1,1 1,1 1,1
Payout ratio of CEPS 30,3 29,11 27,65
Rental growth -1 -0,92 2,92
NOI growth -1,5 -1,1 3,2
CEPS growth 30,44 4,06 5,3

Equity research

Read earlier research

Media

Fastpartner - Company presentation with Vice President Christopher Johansson
Fastpartner - Company presentation with Vice President Christopher Johansson

Main shareholders - Fastpartner

Main shareholders Share capital % Voting shares % Verified
Sven-Olof Johansson 71.8 % 74.6 % 16 Dec 2025
Länsförsäkringar Fonder 2.3 % 2.4 % 30 Nov 2025
Alcur Fonder 2.1 % 2.2 % 31 Oct 2025
Familjen Kamprads stiftelse 2.1 % 2.0 % 26 Sep 2025
Carnegie Fonder 1.3 % 1.4 % 30 Nov 2025
Handelsbanken Fonder 1.0 % 1.1 % 30 Nov 2025
Swedbank Robur Fonder 1.0 % 1.1 % 30 Nov 2025
FastPartner AB 0.7 % 0.7 % 26 Sep 2025
SEB Funds 0.6 % 0.6 % 30 Nov 2025
Avanza Pension 1.2 % 0.6 % 26 Sep 2025
Source: Holdings by Modular Finance AB