# Kallebäck Property Invest

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/kallebckpropertyinvest).

## Overview

Kallebäck Property Invest AB is a Swedish property company that indirectly owns, manages and leases the Kallebäck 17:2 office property in Gothenburg. The company is structured around a single long-term rental asset and operates through a listed Swedish public company on Nasdaq First North Growth Market.

## Products & services

• Ownership and leasing of the Kallebäck 17:2 property
• Property management and tenant administration
• Planned maintenance and building upkeep
• Rental income from a long-term commercial lease

- **Commercial property leasing** (95%) — Rental of the Kallebäck 17:2 property under a long-term lease.
- **Property management** (3%) — Operational management, tenant coordination and administration of the asset.
- **Property maintenance and upkeep** (2%) — Planned maintenance and building-related service costs passed through the asset structure.

- Ownership and leasing of the Kallebäck 17:2 property
- Property management and tenant administration
- Planned maintenance and building upkeep
- Rental income from a long-term commercial lease

## Customers

The company’s customer base is highly concentrated and consists primarily of one commercial tenant, Saab AB, which occupies the entire property. Revenue is generated from a long-term lease contract with CPI indexation, so the business depends on the tenant’s continued occupancy and payment capacity. The property is used as a corporate premises asset rather than a multi-tenant retail or residential portfolio.

- **Saab AB** (primary) — The sole tenant leasing the entire property for corporate use under a long-term contract.
- **Large industrial and defense occupiers** (secondary) — Comparable users of specialized corporate premises who value location, access and long leases.
- **Institutional property investors** (secondary) — Investors in listed single-asset property companies who value contracted cash flow exposure.

- Saab AB is the sole tenant and primary revenue source
- Commercial occupier needing office/industrial premises in Gothenburg
- Tenant values long lease term and location near major transport routes
- Revenue depends on lease renewal, occupancy and index-linked rent
- Single-tenant structure reduces leasing complexity but raises concentration

## Geography

Kallebäck Property Invest is centered on one asset in the Kallebäck district of Gothenburg, Sweden, about 5 km southeast of the city center. The property sits close to E6/E20 and road 40 toward Landvetter, which supports access for a large corporate tenant and anchors the asset’s local market relevance. The business is therefore geographically concentrated in Sweden, with no meaningful operating diversification disclosed.

- **Sweden** (100%) — Single-property business located in Gothenburg

- Single asset located in Kallebäck, Gothenburg
- Close to E6/E20 and road 40 toward Landvetter
- Sweden is the core operating market
- Local geography matters because the asset is tenant-specific
- No country revenue split was disclosed beyond Sweden

## Strategy

The company’s strategy is to preserve stable rental income through a long lease with a financially solid tenant and full CPI indexation. It also emphasizes cost control, maintenance planning and interest-rate management, since financing costs are a major driver of cash flow and reported results. The asset and capital structure are managed to support predictable income from a single, high-quality property.

- **Protect contracted rental income** (short-term) — The business depends on one lease, so occupancy and tenant quality are central to cash flow stability.
- **Control financing costs** (short-term) — Interest expense is a key cost line and directly affects distributable cash flow and valuation.
- **Preserve asset value through maintenance** (medium-term) — A single-property model makes upkeep and tenant satisfaction important for long-term value retention.

- Maintain stable rental income through a long-term lease
- Use CPI indexation to protect nominal rent levels
- Control property and administrative costs
- Manage interest-rate exposure with fixed-rate debt and swaps
- Preserve value of a single core asset in Gothenburg

## Risks

The main business risk is customer concentration, because the entire property is leased to one tenant and any vacancy or renegotiation would materially affect revenue. The company is also exposed to interest-rate and refinancing risk, since debt costs are a major expense and the financing structure includes derivative instruments. As a single-asset property owner, it also faces valuation risk, maintenance risk and local market risk tied to one location in Gothenburg.

- **Tenant concentration** [critical] — All rental income comes from Saab AB, so any default, downsizing or non-renewal would hit revenue directly.
- **Interest-rate and refinancing risk** [high] — Debt service is a major cost item and the company uses borrowings and swaps to manage rate exposure.
- **Fair value volatility** [medium] — Reported earnings can change with property valuation assumptions and derivative mark-to-market movements.
- **Local property market risk** [medium] — The portfolio is concentrated in one Gothenburg asset, so local demand and location-specific factors matter.

- Single-tenant concentration creates vacancy and renegotiation risk
- Interest-rate movements affect financing costs and cash flow
- Refinancing risk exists when debt maturities approach
- Property valuation changes can move reported earnings materially
- Maintenance and capex needs can raise operating costs

## Accounting

Reported results are shaped by fair value accounting for the investment property and by mark-to-market accounting for the interest-rate swap. Rental income is tied to a long lease with CPI indexation, so timing and index adjustments matter for period-to-period comparability. Because the company is a single-asset landlord, maintenance spending, capitalized improvements and valuation assumptions can have an outsized effect on reported earnings and equity.

- **Investment property fair value** — Reported profit may differ substantially from cash flow
- **Derivative valuation** — Earnings volatility from changes in market rates
- **Index-linked rental income** — Revenue growth can reflect indexation rather than volume

- Investment property fair value changes affect reported profit
- Interest-rate swap is remeasured to market each period
- CPI-linked rent affects rental income timing and comparability
- Maintenance vs capital expenditure affects operating profit
- Single-asset valuation assumptions can move equity materially

---

*Last updated: 2026-08-11T04:04:53.672098+00:00*