Year-end report January-December 2025

CEO Charlotta Wallman Hörlin and CFO Magnus Ekström will present the Year-end Report 2025 in an audiocast at 10.30 a.m. CET at https://www.finwire.tv/webcast/intea/year-end-report-2025/
Subsequent questions can be posted directly to CFO Magnus Ekström by email: magnus.ekstrom@intea.se

January – December 2025

• Rental income increased by 30.0 percent (13.6) to SEK 1,561 million (1,201), of which SEK 265 million (91) related to project properties. In a like-for-like portfolio, rental income increased by 2.9 percent.
• Profit from property management increased by 68.5 percent to SEK 904 million (536). Growth per Class A and Class B share amounted to 34.7 percent (5.5).
• Changes in the value of investment properties amounted to SEK 850 million (166), of which SEK 593 million (53) was attributable to project properties.
• Profit for the year after tax amounted to SEK 1,304 million (591).
• Profit for the year attributable to the shareholders of the parent company per Class A and Class B share amounted to SEK 5.58¹⁾ (3.07) and per Class D share SEK 2.23¹⁾ (2.02). Dividend per Class D share amounted to SEK 2.00¹⁾ (2.00).
• Growth in long-term net asset value (EPRA NRV) per Class A and Class B share amounted to 18.4 percent (2.2).
• Total investments in existing investment properties during the year amounted to SEK 1,181 million (1,457).
• Property value at year-end amounted to SEK 28.0 billion (23.6).
• The Board of Directors proposes a dividend of SEK 1.00 per Class A and Class B share (0.50). The Board also proposes a dividend of SEK 2.00 per Class D share (2.00) with quarterly payments of SEK 0.50.

October – December 2025

• Rental income increased by 43.0 percent (14.6) to SEK 452 million (316), of which SEK 83 million (34) related to project properties. In a like-for-like portfolio, rental income increased by 4.5 percent.
• Profit from property management rose by 64.8 percent to SEK 257 million (156). Growth per Class A and Class B share amounted to 29.4 percent (58.2)
• Changes in the value of investment properties amounted to SEK 393 million (81), of which SEK 209 million (6) was attributable to project properties.
• Profit after tax for the period totalled SEK 546 million (363).
• Profit for the year attributable to the shareholders of the parent company per Class A and Class B share amounted to SEK 2.37¹⁾ (2.06) and per Class D share SEK 0.59¹⁾ (0.51). Dividend per Class D share amounted to SEK 0.50¹⁾ (0.50).
• Total investments in existing investment properties during the period amounted to SEK 458 million (378).

1) There are no dilutive instruments.

Significant events during the quarter

• In October, Intea took possession of a portfolio of security properties acquired from Specialfastigheter Sverige AB. The lettable area amounted to just over 78,000 sqm, with the Prison and Probation Service and the National Board of Institutional Care as tenants. The underlying property value in the transaction was SEK 1,390 million.
• In October, Intea and the Nordic Investment Bank signed an agreement for a 14-year green bank loan to finance the new Justice Centre in Kristianstad.
• In November, Intea carried out a directed share issue of SEK 16 million Class D shares, providing the company with SEK 504 million in new capital before transaction-related costs.
• In December, Intea acquired a property in Växjö with a lettable area of approximately 6,600 sqm. The property is fully leased by the Swedish Police. The underlying property value in the transaction was SEK 107 million, with an annual rental value of SEK 7.5 million. The lease runs for a term of 10 years.
• In December, Intea entered into an agreement to acquire a district court in Härnösand with a lettable area of just over 4,100 sqm. The property is currently being completed and is fully leased by the Swedish National Courts Administration. The underlying property value in the transaction amounted to SEK 223 million before deduction for deferred tax. The lease has a contract period of 15 years from completion with an annual rental value of SEK 13.3 million. Possession of the property is expected to take place in July 2026 when the tenant takes over the premises.

Significant events after the end of the quarter

• In January 2026, Intea acquired a property with an ongoing project in Uppsala. Upon completion, the lettable area will amount to approximately 6,600 sqm and will be fully leased by a government agency. The underlying property value in the transaction amounted to SEK 160 million before deduction for deferred tax. The total investment, including the acquisition, is estimated at SEK 266 million. The tenant will take possession of the premises in phases at mid-2026 and in the fourth quarter of 2027, respectively.
• In February, Intea issued a green bond loan of SEK 600 million with a three-year maturity and a margin of 85 bps. Under the company’s existing MTN programme, repurchases of outstanding bonds were also carried out for a total nominal amount of SEK 264 million

Comment from the CEO Charlotta Wallman Hörlin

This quarter is particularly meaningful as it marks both the company’s first decade of operations and its first year as a listed entity.

Intea began operations on 12 January 2016, completing its first acquisitions only a few months later. From the outset, the company has focused on purpose-built properties for public-sector tenants, guided by a longterm ownership perspective. Over the years, our expertise in this field has evolved and matured, and today Intea is a well‑established stakeholder in the social infrastructure sector with a substantial project development business. We have grown to become the largest private owner of premises for higher education and correctional facilities.

Through specialisation and continuous exchange of experience between project development and local management operations, the company’s offering is constantly evolving. Local management staffed by our own employees is a cornerstone of Intea’s strategy to remain close to tenants, ensuring professional management, efficient operations and a consistently high level of service.

During our first ten years, we have had the privilege of meeting many wonderful people, and I would like to take this opportunity to thank all colleagues, tenants, partners, owners and board members for their excellent collaboration.

For the complete report, please refer to the attached PDF.

For further information, please contact:
Charlotta Wallman Hörlin, CEO, +46 (0) 733 24 50 25
Magnus Ekström, CFO, +46 (0) 705 49 86 02