FPAR-ANasdaq StockholmReal EstateIFRS · SEK

Fastpartner A

Fastpartner AB is a Swedish listed property company that owns, manages, and develops commercial real estate. Its portfolio is concentrated in Sweden’s largest population centers, with a particular focus on the Stockholm region and other growth areas.

Revenue2,271m SEK
−1.0 %y/y
Net income687m SEK
+6.1 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-2,00002,0004,0006,000m SEK2021: 1,856 m SEK2021: EBIT 4,289 m SEK20212022: 1,998 m SEK2022: EBIT 481 m SEK20222023: 2,209 m SEK2023: EBIT -934 m SEK20232024: 2,293 m SEK2024: EBIT 1,696 m SEK20242025: 2,271 m SEK20252,271
RevenueOperating profit (EBIT)

Business

Share of revenue
Property ownership and management70 %

Core rental properties held and managed for long-term income generation.

Office premises25 %

Office buildings and office space leased to private and public tenants.

Logistics, warehouse and industrial properties20 %

Sites used for logistics, storage, industrial and workshop operations.

Retail, care, school and other premises15 %

Community-oriented and service properties such as retail, care and education.

Property development and tenant improvements-30 %

Refurbishment, redevelopment and tenant-specific fit-out projects.

Customers

Fastpartner leases premises to a mix of private companies, public-sector tenants, and service providers that need well-located space in Swedish urban markets. Demand is driven by tenants seeking accessible locations, flexible premises, and buildings that can be adapted for office, logistics, industrial, retail, care, or education use.

Office tenants

Companies leasing office space in Stockholm, Uppsala, Gävle and other urban markets for access and flexibility.

Public-sector tenants

Regions and public agencies leasing adapted premises for administrative and operational use.

Logistics and industrial occupiers

Tenants using warehouses, industrial and workshop properties for distribution and production.

Retail and service tenants

Businesses leasing street-level or neighborhood retail and service space in populated areas.

Care and education operators

Organizations leasing premises designed for healthcare, schooling and related services.

Strategy

Fastpartner’s strategy is to own and develop properties in Sweden’s largest population centers and in areas with potential for rising attractiveness. The company emphasizes long-term ownership, active property development, and tenant adaptation to support stable leasing demand across multiple property types.

Concentrate capital in growth urban marketsMedium term

Dense population centers support tenant demand and long-term rental growth potential.

Maintain a diversified property portfolioMedium term

Exposure across offices, logistics, retail, care and education reduces dependence on one tenant type.

Improve and reposition existing assetsShort term

Tenant adaptations and refurbishments help retain occupiers and support leasing activity.

Embed sustainability in the portfolioLong term

Energy, water, waste and social initiatives support asset quality and tenant appeal over time.

Geography

Fastpartner’s portfolio is concentrated in Sweden, especially the Stockholm region and nearby Mälaren Valley areas. The company also operates in other Swedish cities such as Gävle, Uppsala, Norrköping and Söderhamn, which broadens its tenant base while keeping the business anchored in domestic urban real estate markets.

Risks

Fastpartner is exposed to Swedish property-market cyclicality, interest-rate sensitivity, and refinancing conditions because its earnings and asset values depend on rental demand and capital-market access. The portfolio also faces vacancy risk, valuation risk, and tenant concentration in specific urban and public-sector uses, while sustainability and social-license issues matter in certain neighborhoods and development areas.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Interest-rate and financing risk1Vacancy and leasing risk3Tenant 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 and financing riskImpact: HighLikelihood: Medium

    Property companies rely on debt and refinancing, so higher rates can pressure returns and funding access.

    Exposure: Swedish real estate financing

  2. Property valuation riskImpact: High

    Asset values depend on cap rates, vacancies and market sentiment, which can move materially.

    Exposure: Commercial property portfolio

  3. Vacancy and leasing riskImpact: MediumLikelihood: High

    Lower occupancy or weaker tenant demand reduces rental income and can require incentives or fit-outs.

    Exposure: Office and mixed-use properties

  4. Tenant concentration riskImpact: MediumLikelihood: Medium

    Large leases and public-sector tenants can create earnings sensitivity if contracts are not renewed.

    Exposure: Selected properties in Stockholm and regional cities

  5. Social and local operating riskImpact: Medium

    Some properties are in areas where safety, community relations and local conditions affect operations.

    Exposure: Urban and suburban districts

Accounting

Judgemental items
Fair value of investment properties

Property values are estimated using cash flow and yield assumptions, so small changes can move reported earnings materially.

Impact: Unrealized value changes and balance sheet asset values

Key valuation assumptions

Vacancy rates, discount rates and maintenance/investment needs influence the carrying value of the portfolio.

Impact: Reported profit, equity and leverage metrics

Tenant improvements and redevelopment costs

Fit-outs and upgrades must be capitalized or expensed based on accounting judgment.

Impact: Depreciation, operating profit and asset values

IFRS 16 lease accounting

Lease-related contracts can affect right-of-use assets, liabilities and expense timing.

Impact: Balance sheet and operating expense presentation

Debt and green bond financing

Bond issuance, refinancing and related fees affect financing costs and disclosures.

Impact: Net finance costs and liquidity presentation

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Fastpartner A (FPAR-A) Revenue, Earnings & Financials 2025 – Clarifo