Wihlborgs Fastigheter AB (publ) WIHL
This picture changes. Follow Wihlborgs Fastigheter AB (publ) free — email when the signal or risk changes + a Sunday weekly brief.
Follow Wihlborgs Fastigheter AB (publ) freeEmail when the signal or risk changes · Sunday weekly brief
No card · No time limit on free tier · Upgrade when you need more
Full analysis: 6 Apr 2026
Latest news check: 7 Aug 2026
General analysis — not personal advice.
HOLD
7/10
Confidence
Maintain the current position. Consider adding only after (i) clearer disclosure on financing mix and pro forma LTV/interest coverage, (ii) regulatory approval and closing progress without friction, and (iii) evidence of stabilising net leasing/vacancy trends in offices.
Strong H1 momentum and regulatory approval of the large acquisition support the HOLD signal, as integration and financing risks remain until more pro forma details emerge.
Market sentiment
7/10
↑
Trend: Improving
Sentiment has improved following the regulatory approval, although the market continues to weigh integration and financing risks.
Price context
The share trades near its 52-week low at 78.7 SEK despite analyst targets around 100–106 SEK, indicating the market is pricing in substantial integration risks.
Risk assessment
8/10
Dilution:
Low
Positive cash flow, no equity raise signaled
Jurisdiction:
Low
Sweden/Denmark, stable legal systems
Execution:
Medium
Project delivery and leasing require execution
Recent changes
- The interim report (Jan–Jun 2026) showed record rental income of 2,324 MSEK (+8% YoY), NOI of 1,664 MSEK (+8% YoY) and profit from property management of 1,077 MSEK (+9% YoY), described as above expectations.
The full analysis is open. Follow the company free for the full change history — and email next time the picture changes.
Show all changes (4) — follow the company freeAbout the company
Wihlborgs Fastigheter AB (publ) owns, manages, and develops commercial properties focused on the Öresund region (Malmö, Lund, Helsingborg, and Copenhagen). The company is profitable and mature with a long track record of positive net leasing, but remains interest-rate sensitive with LTV around ~50%.
Sector:
Commercial real estate (office, retail, logistics) in the Öresund region
Type:
Finance
Next report
21 Oct 2026
Q3
Catalysts
1 Oct 2026
Castellum portfolio closing
High
21 Oct 2026
Q3 report
High
Q3 2026
H2 2026 leasing
Medium
Horizon:
Bull case
Approval clears the way for the Castellum acquisition to materially increase rental income from October.
Bear case
The SEK 13.3 billion scale of the deal raises concerns over higher leverage and integration challenges.
Signal rationale (informational)
Strong H1 momentum and regulatory approval of the large acquisition support the HOLD signal, as integration and financing risks remain until more pro forma details emerge.
Recent news
- The Swedish Competition Authority approved Wihlborgs' acquisition of Castellum's southern Sweden portfolio for SEK 13.3 billion on 28 July. SEB simultaneously raised its target price to 104 SEK with a reiterated buy rating.
Price & valuation
Last close
SEK 80.30
1 week
+1.6 %
3 months
-3.9 %
12 months
-16.4 %
From 52w high
-18.6 %
From 52w low
+7.3 %
Exchange
Stockholm
Type
Finance
Sector
Commercial real estate (office, retail, logistics) in the Öresund region
This picture changes. Follow Wihlborgs Fastigheter AB (publ) free — email when the signal or risk changes + a Sunday weekly brief.
Follow 3 companies freeEmail when the signal or risk changes · Sunday weekly brief
No card · No time limit on free tier · Upgrade when you need more
Firelda provides general information and analysis, not personal investment advice. Content does not consider your financial situation or goals. Investments can rise and fall in value. Always do your own research.