WALL-BNasdaq StockholmReal EstateIFRS · SEK

Wallenstam

Wallenstam is a Swedish real estate company focused on the development, management, and leasing of residential and commercial properties. Headquartered in Gothenburg, Wallenstam is known for its sustainable building practices and significant investments in renewable energy. The company actively engages in new construction and reconstruction projects, with a strong emphasis on creating vibrant urban environments. Wallenstam's portfolio includes a mix of residential units and commercial spaces, primarily located in major Swedish cities.

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Revenue3,077m SEK
+5.3 %y/y
Operating profit (EBIT)3,512m SEK
+74.6 %y/y
EBIT margin114.1%
+45.3 ppy/y
Net income1,325m SEK
+71.2 %y/y
Free cash flow1,379m SEK
+13.2 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

01,0002,0003,0004,000m SEK2021: 2,324 m SEK20212022: 2,490 m SEK2022: EBIT 1,081 m SEK20222023: 2,730 m SEK2023: EBIT 143 m SEK20232024: 2,922 m SEK2024: EBIT 2,011 m SEK20242025: 3,077 m SEK2025: EBIT 3,512 m SEK2025TTM 2026: 2,375 m SEKTTM2,375
RevenueOperating profit (EBIT)TTM = last 12 months, not a full fiscal year
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Business

Share of revenue
Residential Properties50 %

Development and leasing of residential units.

Commercial Properties30 %

Leasing of office and retail spaces.

Property Management10 %

Management services for owned properties.

Renewable Energy10 %

Production and sale of renewable energy.

Customers

Wallenstam serves a diverse range of customers, including individuals seeking residential accommodations and businesses requiring commercial spaces. The company's residential properties attract tenants looking for modern, sustainable living environments in urban areas. Commercial clients range from small businesses to large corporations needing office or retail space in strategic locations. Wallenstam's commitment to sustainability also appeals to environmentally conscious tenants and businesses. Additionally, the company's renewable energy initiatives attract customers interested in green energy solutions.

Residential Tenants

Individuals and families renting apartments for sustainable urban living.

Commercial Tenants

Businesses leasing office and retail spaces for strategic location benefits.

Renewable Energy Clients

Customers purchasing green energy solutions.

Strategy

Wallenstam's strategic priorities include expanding its property portfolio through new construction and acquisitions, with a focus on sustainable urban development. The company aims to enhance its renewable energy capabilities to support its sustainability objectives. Wallenstam is also committed to maintaining high occupancy rates and tenant satisfaction through effective property management. Additionally, the company seeks to optimize its financial performance by carefully managing its investment portfolio and capital structure.

Expand Property PortfolioMedium term

To increase market presence and revenue streams.

Enhance Renewable EnergyLong term

To align with sustainability goals and reduce carbon footprint.

Geography

Wallenstam's operations are primarily concentrated in Sweden, with a strong presence in major cities such as Gothenburg, Stockholm, and Malmö. The company's strategic focus on urban areas allows it to capitalize on high demand for residential and commercial properties. Wallenstam's properties are well-situated to benefit from urban growth and infrastructure development. The company's renewable energy projects are also primarily located within Sweden, supporting its sustainability goals.

Risks

Wallenstam faces several risks, including fluctuations in property market values and changes in interest rates that could impact financial performance. The company's focus on urban areas exposes it to regulatory changes and economic shifts in these regions. Additionally, the construction and development activities carry risks related to project delays and cost overruns. The renewable energy sector also presents challenges, such as regulatory changes and technological advancements that could affect project viability.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Property Market Fluctuations1Interest Rate Changes2
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. Property Market FluctuationsImpact: HighLikelihood: Medium

    Can impact asset valuations and rental income.

  2. Interest Rate ChangesImpact: HighLikelihood: Medium

    Affects borrowing costs and investment returns.

  3. Regulatory ChangesImpact: Medium

    Could alter development plans and operational costs.

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Accounting

Judgemental items
Investment Property Valuation

Market changes affect reported asset values.

Impact: high

Revenue Recognition from Leasing

Occupancy rates influence rental income stability.

Impact: medium

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Last updated: 24/09/2026