contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Fastator is an investment company. The company invests mainly in entrepreneur-driven real estate companies where the company, through active and long-term ownership, contributes to developing the companies and creating shareholder value. Capital is provided to the company via shares, bonds and hybrid capital. Fastator was founded in 2011 and is headquartered in Stockholm.

Fastator

EBIT incl. value changes of SEK 28m in Q2 vs. SEK 32m in Q1Fastator’s EBIT (incl. value changes) was SEK 27.7m in Q2. Of this, among other items, SEK 19m stemmed from Point, SEK -1.3m from Nordic...

EBIT incl. value changes of SEK 28m in Q2 vs. SEK 32m in Q1 Fastator’s EBIT (incl. value changes) was SEK 27.7m in Q2. Of this, among other items, SEK 19m stemmed from Point, SEK -1.3m from Nordic PM and SEK 8.5m from other real estate holdings. Associated companies and joint ventures delivered EBIT of SEK 6.1m, which consisted of EBIT contributions from Företagsparken (SEK 6.1m), the new Abamco JV with Broadgate (SEK 5.3m), SBK (SEK -0.5m), Genova Fastator (SEK 1.5m) and Studentbostäder (SEK -6.4m). Our large estimate changes on EBIT and EPS are explained by us adjusting for the incorrect modelling of Offentliga Hus in our most recent report. Value revisions of SEK 19m, or 1.2% of property value in Q2 Long-term NAVPS was flat q-o-q and up 2% y-o-y to SEK 21.8, 3% below ABGSCe. Value revisions amounted to SEK 18.8m, up 1.2% from the property value at the end of Q1. We expect 1.5% for 2022, in line with inflation expectations, and 2.5% for 2023, reflecting the potential we perceive in Point Properties. Fastator had a cash position of SEK 729m in Q2’21, which comes down to SEK 451m in Q3e, due to announced acquisitions. This means there is plenty of room for investment that could change the earnings capacity quite drastically if Fastator utilises it. P/NAV of 0.88x – in line with 1y avg. and above 2y avg. Fastator is trading at P/NAV last reported of 0.88x, compared to its 1-year average of 0.90x and its 2-year avg. of 0.83x. Fastator’s valuation implies a ~40% discount vs. our real estate coverage. However, as it is Sweden’s only listed real estate investment company, we argue that it is hard to fully compare Fastator with traditional real estate companies. Its historical NAV growth is impressive, and Fastator has shown it can nurture and grow its holdings, but several of its current initiatives are in the early phases of their growth journeys. Moreover, since the company is heavily transaction-oriented, what is true today might change tomorrow. Bit by bit, however, we aim to offer a more complete picture of the company and its share potential.