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Third party research

Fastpartner: Weaker top line drives Q2 deviation - ABG

Fastpartner

This is a third party research report and does not necessarily reflect our views or values

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Rec. PTP -7% vs ABGSCe
Vacancies up slightly, property value down -0.6%
Slight underperformance justified


Rec PTP -7% vs ABGSCe

Fastpartner delivered a Q2 report with rental income of SEK 561m (-2.1% vs ABGSCe of SEK 573m and -2.4% y-o-y), while NOI amounted to SEK 417m (-2.2% vs ABGSCe of SEK 426m and -1.4% y-o-y). The NOI margin amounted to 74.4% vs ABGSCe at 74.5% and 73.6% in Q2'24. Rec. PTP amounted to SEK 226m (-7.2% vs ABGSCe of SEK 243m and +20.2% y-o-y). Occupancy was down q-o-q at 91.3% (91.7% in Q1), and 91.8% (92.0% in Q1) adjusted for projects.
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