Market value volatility in equity holdings
A large part of the portfolio consists of listed shares whose prices can change materially.
- Scope
- Listed holdings and securities trading
- Materiality
- high
Lundbergföretagen
L E Lundbergföretagen AB is a Swedish investment and holding company based in Stockholm. Its business combines long-term ownership of listed and unlisted companies with a wholly owned property operation and significant stakes in industrial and forest-related businesses through its portfolio companies.
0.90
0.33
| % | |
|---|---|
| Property operations | 20% Rental housing, office, retail and project development within the wholly owned real estate business. |
| Equity and securities management | 25% Active management of listed shareholdings, securities trading and capital allocation. |
| Industrial holdings | 40% Ownership exposure to forest, paper, carton, wood products and related industrial businesses through portfolio companies. |
| Dividend and investment income | 15% Cash flow from dividends, associate income and value changes from holdings and investments. |
The company itself is not a conventional product seller; its direct counterparties are tenants, investors, financing...
- Residential tenantsprimary
Households renting apartments in the property portfolio, seeking stable housing in Swedish urban markets.
- Commercial tenantssecondary
Office and retail occupiers leasing space in Lundbergs' property assets for location and quality.
- Shareholders and capital marketsprimary
Investors who buy Lundbergs for long-term ownership, dividend flow and net asset value growth.
- Portfolio company stakeholdersprimary
Management teams and boards of holdings that benefit from active ownership, governance and capital support.
- Industrial customers of holdingssecondary
Buyers of carton, paper, wood products and related industrial outputs from portfolio companies.
Lundbergs is headquartered in Stockholm and its direct property business is concentrated in Sweden, with reported...
- •Headquartered in Stockholm, Sweden
- •Property income is concentrated in Swedish cities and regions
- •Reported rental exposure includes Syd and Mitt market areas
- •Portfolio exposure extends to Swedish listed industrial companies
- •Nordic operating exposure comes through forest and paper holdings
Lundbergs' strategy is to remain a long-term, active owner that supports portfolio companies through board...
01
Active ownership and governancelong-term
Board participation and long-term stewardship are central to value creation in the holding-company model.
02
Financial flexibilitymedium-term
Low debt and liquidity capacity allow the company to support investments and weather market volatility.
03
Net asset value growthlong-term
Shareholder returns depend on the growth of underlying asset value and dividend capacity.
The main risks come from market value swings in listed holdings, real estate valuation changes and the operating risks...
Real estate valuation risk
Property values depend on discount rates, occupancy and rental market conditions.
- Scope
- Lundbergs Fastigheter
- Materiality
- high
Concentration risk in major holdings
The portfolio is concentrated in a limited number of large investments and subsidiaries.
- Scope
- Holmen, Hufvudstaden and other core holdings
- Materiality
- high
Cyclical industrial exposure
Forest, paper, carton and wood markets are exposed to demand cycles and input-cost swings.
- Scope
- Holmen-related industrial exposure
- Materiality
- medium
Fair value of investment properties
Can materially change reported profit without affecting cash flow
Fair value of listed securities
Creates volatility in net income and equity
Equity method accounting for associates
Reported results depend on underlying company performance and accounting timing
IFRS 16
IFRS 16 leases
Changes comparability of operating profit and leverage metrics
: 11/08/2026