STEF-BNasdaq StockholmReal EstateIFRS · SEK

Stendörren Fastigheter

Stendörren Fastigheter AB is a Swedish real estate company specializing in the acquisition, development, and management of industrial and warehouse properties. The company focuses on creating premises that make a difference, with a strong presence in the Nordic region. Stendörren is committed to sustainable growth through strategic acquisitions and property development, enhancing its portfolio's value and rental income. The company reinvests profits into the business to support its expansion and improve its property offerings.

Revenue237m SEK
−74.0 %y/y
Operating profit (EBIT)749m SEK
+19.1 %y/y
EBIT margin316.0%
+246.9 ppy/y
Net income124m SEK
−62.1 %y/y
Free cash flow366m SEK
+68.7 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

02004006008001,000m SEK2021: 656 m SEK20212022: 733 m SEK2022: EBIT 557 m SEK20222023: 854 m SEK2023: EBIT 142 m SEK20232024: 910 m SEK2024: EBIT 629 m SEK20242025: 237 m SEK2025: EBIT 749 m SEK2025237749
RevenueOperating profit (EBIT)

Business

Share of revenue
Industrial Properties40 %

Includes acquisition and management of industrial properties.

Warehouse Spaces30 %

Development and leasing of warehouse spaces.

Property Management20 %

Management services for owned properties.

Real Estate Investments10 %

Investments in real estate to enhance portfolio value.

Customers

Stendörren's customer base primarily consists of businesses seeking industrial and warehouse spaces for their operations. These include logistics companies, manufacturers, and retailers who require strategically located premises to optimize their supply chains. The company also serves real estate investors looking for stable returns from property investments. Stendörren's focus on long-term lease agreements attracts clients seeking reliability and stability in their operational spaces.

Logistics Companies

Lease warehouse spaces to optimize supply chains.

Manufacturers

Acquire industrial spaces for production needs.

Real Estate Investors

Invest in properties for stable returns.

Strategy

Stendörren's strategic priorities include expanding its property portfolio through targeted acquisitions and developments in key Nordic markets. The company focuses on increasing rental income and property value through active management and strategic leasing. Reinvesting profits into the business supports sustainable growth and enhances shareholder value. Stendörren aims to strengthen its market position by improving its property offerings and expanding its geographic footprint.

Expand property portfolioMedium term

To increase market presence and rental income.

Reinvest profitsLong term

To support sustainable growth and enhance value.

Geography

Stendörren operates primarily in the Nordic region, with significant investments in Sweden, Norway, Denmark, and Finland. The company's strategic acquisitions in cities like Stockholm, Oslo, Copenhagen, and Helsinki enhance its geographic footprint. These locations are chosen for their economic stability and growth potential, providing a robust market for industrial and warehouse properties. Stendörren's geographic expansion supports its growth strategy and increases its market presence in key Nordic cities.

Risks

Key risks for Stendörren include fluctuations in property market values, which can impact the company's financial performance. Economic downturns in the Nordic region could affect demand for industrial and warehouse spaces. The company's growth strategy involves significant capital investments, which carry financial risks if expected returns are not realized. Additionally, changes in interest rates can affect borrowing costs and property valuations.

Sorted by severity
Property market fluctuationsHigh

Can impact financial performance and valuations.

Interest rate changesHigh

Affect borrowing costs and property valuations.

Economic downturnsMedium

Could reduce demand for industrial spaces.

Accounting

Judgemental items
Property portfolio valuation

Involves judgmental assessments impacting financials.

Revenue recognition from leases

Critical for income and cash flow reporting.

IFRS 16 Lease Accounting

Affects balance sheet and income statement presentation.

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026