Fastighetsbolaget Emilshus B
Fastighetsbolaget Emilshus AB is a Swedish property company that acquires, develops and manages commercial real estate, with a focus on southern Sweden. Its portfolio is concentrated in light industry, industrial services/trade suppliers, and big-box and grocery retail properties, and the company is listed on Nasdaq Stockholm.
Fiscal year 2025 · change from previous year
Development 2021–2025
Business
Share of revenuePurchase of income-producing commercial properties in selected southern Swedish markets.
Day-to-day management, leasing and maintenance of the existing portfolio.
Development projects and tenant-specific improvements within the portfolio.
Rental of premises to industrial, trade and retail tenants.
Customers
Emilshus serves commercial tenants that need functional premises in established local markets, especially industrial users, trade suppliers, and grocery or big-box retailers. The company’s properties are designed for businesses that value accessibility, practical layouts, and long lease terms in growth regions of southern Sweden.
Businesses leasing practical industrial premises for production, storage or service operations.
Tenants using premises for distribution, trade counters, workshops and related services.
Large-format retailers leasing prominent sites with strong customer access.
Food retailers leasing stores in established catchment areas with steady foot traffic.
Office and community-service tenants occupying the smaller non-core part of the portfolio.
Strategy
Emilshus focuses on acquiring high-yield commercial properties in growth regions of southern Sweden while maintaining close local management of its assets and tenants. The company also emphasizes long lease terms, tenant quality, and selective development or investment in existing properties to support portfolio growth.
Portfolio growth is driven by adding income-producing properties in target markets.
A larger portfolio requires scalable processes and local execution to protect service quality.
Stable occupancy and solvent tenants support predictable rental cash flows.
Tenant-specific improvements can enhance asset quality and support rent growth.
Geography
Emilshus is concentrated in southern Sweden, with its portfolio spread across Småland, Östergötland, Skåne and Halland. The company highlights Växjö and surrounding areas as its largest management region, and also has meaningful exposure to Linköping, Jönköping, Värnamo, Vetlanda, Halmstad and Helsingborg.
Risks
Emilshus is exposed to valuation risk in its investment properties because fair value estimates depend on assumptions about rents, yields and occupancy. As a landlord concentrated in southern Sweden and in a few commercial property types, it also faces tenant concentration, local market, refinancing and interest-rate risks that can affect cash flow and asset values.
- Investment property valuation riskImpact: HighLikelihood: Low
Properties are measured at fair value using Level 3 inputs, so small assumption changes can move reported asset values.
Exposure: Portfolio-wide
- Tenant and occupancy riskImpact: HighLikelihood: Low
Rental income depends on keeping a high occupancy rate and retaining solvent tenants on long leases.
Exposure: Commercial portfolio
- Interest-rate and financing riskImpact: HighLikelihood: Low
Property companies are sensitive to borrowing costs and lender availability, which affect returns and valuation yields.
Exposure: Debt and refinancing
- Property-type concentration riskImpact: MediumLikelihood: Low
A large share of the portfolio is tied to light industry and retail formats that can be cyclical.
Exposure - Regional concentration riskImpact: Medium
The portfolio is concentrated in southern Sweden, making results sensitive to local economic conditions.
Exposure
Accounting
Judgemental itemsThis is the key estimate in a property company and depends on assumptions about rents, vacancies and yields.
Impact: Can materially affect assets, equity and valuation gains/losses
Interest-rate hedges are marked to market, so changes in rates can affect reported financial items.
Impact: Can affect balance sheet and profit or loss
Lease commencements, indexation and tenant improvements can shift revenue recognition between periods.
Impact: Affects quarterly comparability of rental income
The company reports one operating segment, so performance is viewed on a consolidated property-portfolio basis.
Impact: Limits segment-level disclosure
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Last updated: 24/09/2026