• Forum
  • Premium
  • Stock Markets
    • MarketsLive prices, indices, and market performance
    • Morning ReviewDaily market recap and key overnight highlights
    • Stock CalendarUpcoming earnings, listings, and corporate events
    • Dividends CalendarFuture and past dividends
  • Companies
    • CompaniesBrowse and filter the full list of listed companies
    • DiscoveryInspiration for your next investment
    • IPOsNew listings and upcoming public offerings
    • AGM InvitationsAnnual general meeting dates and shareholder info
  • Stock Research
    • ResearchExpert stock analysis and recommendations
    • ArticlesNews, insights, and market commentary
    • PortfolioInderes model portfolio
    • FemmeBreaking barriers and building confidence in investing
  • Learn about investing
    • Analysis SchoolLearn how to read and understand stock analysis
    • Investing SchoolGuides and lessons to grow your investing knowledge
    • Portfolio buildersInvesting knowledge for every level, from first steps to advanced portfolio strategies.
    • inderesTVVideo hub for stock research, analysis, and expert commentary
    • TranscriptsFull text records of earnings calls and investor meetings
    • Stock ComparisonCompare financials and performance across multiple stocks
    • Insider TransactionsTrack buying and selling activity by company insiders
    • Virtual Analyst ChatAsk questions and get instant AI-powered investment insights
Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • Instagram
  • X (Twitter)
  • Tiktok
  • Linkedin
Get in touch
  • info@inderes.fi
  • +358 10 219 4690
  • Porkkalankatu 5
    00180 Helsinki
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Q&A
  • Terms of service
  • Privacy policy
  • Disclaimer

Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Third party research

Fastpartner: Major vacancy to hit in 2025 - ABG

Fastpartner

This is a third party research report and does not necessarily reflect our views or values

Download report (PDF)
Rec. PTP 4% below ABGSCe
CEPS est. down by 3-4% for '25-'26e
Share trading at ~10% premium on '25e P/CEPS


Minor miss on most items

Fastpartner reported Q1 rental income of SEK 579m (-1% vs. ABGSCe at SEK 584m), and lower-than-expected NOI at SEK 384m (-3% vs. ABGSCe at 397m), with a 1.2pp weakening of the NOI-margin y-o-y to 66.3%, on account of increased heating and heavy snow removal costs. Thus, recurring PTP was -4% vs ABGSCe. Albeit that occupancy came down ~30bps q-o-q to 92.6%, this was the first quarter since Q2'22 with positive value changes of SEK 119m (0.4% of property values vs ABGSCe at -0.4%), mainly on the back of a large signed lease and due to divestments above book value. Net LTV (ABGSC definition) declined 0.8pp q-o-q to 48.5%.