ACRI-BNasdaq StockholmReal EstateIFRS · SEK

Acrinova A

Acrinova is a Swedish property company focused on owning, developing, and managing commercial and residential real estate in southern Sweden, with a concentration in western Skåne. Its portfolio is built through acquisitions, project development, and property enhancement, and the company operates through a listed parent company and property-owning subsidiaries.

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Revenue126m SEK
−21.2 %y/y
Net income60.0m SEK
+67.0 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

050100150200m SEK2021: 102 m SEK20212022: 131 m SEK2022: EBIT 27 m SEK20222023: 147 m SEK2023: EBIT 38 m SEK20232024: 160 m SEK2024: EBIT 50 m SEK20242025: 126 m SEK2025TTM 2026: 96 m SEKTTM96
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
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Business

Share of revenue
Property management and leasing70 %

Rental income from owned investment properties and ongoing tenant management.

Property development and project execution20 %

Development, refurbishment, and new-build projects intended to create value.

Property transactions10 %

Acquisitions and disposals of properties used to reshape the portfolio.

Customers

Acrinova serves tenants across several property types, including trade, services, logistics, and production, as well as residential users in some assets. The company’s tenant base ranges from larger corporate occupiers to smaller local operators, with demand driven by location, functionality, and long-term lease stability.

Commercial tenants

Businesses leasing premises for trade, service, office, and operational use.

Logistics and industrial occupiers

Tenants using warehouse and production space for storage, distribution, and operations.

Residential tenants

Households renting apartments or housing units in selected properties.

Property buyers and sellers

Counterparties in acquisitions and disposals that shape the portfolio.

Strategy

Acrinova’s strategy is to own, build, and develop properties with high value-creation potential, using acquisitions, project development, and asset enhancement to grow the portfolio. The company also uses selective disposals to optimize the portfolio, recycle capital, and support future investments in new properties and projects.

Portfolio optimizationShort term

Disposals and acquisitions are used to concentrate capital in higher-potential assets.

Portfolio rebuilding and growthMedium term

The company aims to rebuild its property base after asset sales and continue expanding selectively.

Value creation through developmentMedium term

Project development and property enhancement are central to improving asset value and returns.

Geography

Acrinova’s business is concentrated in southern Sweden, especially western Skåne, where it owns and develops properties in attractive regional locations. The company’s operations, tenant demand, and asset values are therefore closely tied to the economic conditions, rental market, and financing environment in Sweden.

Risks

Acrinova is exposed to typical property-company risks such as interest-rate sensitivity, vacancy risk, and valuation changes in investment properties. Its project activity also creates execution risk, because delays, cost inflation, or weaker tenant demand can reduce returns and affect asset values.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Interest-rate sensitivity1Vacancy and tenant concentration risk4
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Interest-rate sensitivityImpact: HighLikelihood: Low

    Property values and financing costs are closely linked to Swedish market rates and debt pricing.

    Exposure: Bank loans and hedging arrangements

  2. Project execution riskImpact: High

    Development projects can be delayed or become more expensive if supply chains or input prices worsen.

    Exposure: New-build and refurbishment projects

  3. Fair value volatilityImpact: High

    Investment properties are measured at fair value, so market yield changes flow through earnings and equity.

    Exposure: Level 3 property valuations

  4. Vacancy and tenant concentration riskImpact: MediumLikelihood: Medium

    Rental income depends on occupancy and the stability of a relatively small property portfolio.

    Exposure: Leasing portfolio

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Accounting

Judgemental items
Fair value measurement of investment properties

Property values are based on market assumptions, tenant status, and yield estimates, which can move reported profit and equity.

Impact: Changes in valuation can dominate period-to-period earnings

Level 3 valuation inputs

The portfolio is classified in IFRS fair value hierarchy level 3, requiring judgment in each asset valuation.

Impact: Higher estimation uncertainty and sensitivity to assumptions

Derivative and hedge accounting

The company uses interest-rate hedging, which affects finance costs and can create valuation movements.

Impact: Reported interest expense and fair value changes may vary with market rates

Project and disposal timing

Development gains and property sales can be recognized in different periods depending on transaction timing.

Impact: Quarterly results may be uneven and less comparable

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Last updated: 24/09/2026

Acrinova A (ACRI-B) Revenue, Earnings & Financials 2025 – Clarifo