Atrium Ljungberg presented its second-quarter 2026 financial results on July 3, highlighting a major leasing agreement with Ericsson while acknowledging ongoing challenges in the property market. The company reported a 6% year-over-year increase in rental income to 770 million Swedish kronor. Despite this headline growth, the firm’s shares dropped 20.2% to $26.55 in pre-market trading, nearing their 52-week low of $25.60.
The stock decline followed the release of data showing softer underlying performance trends. The company’s letting rate decreased to 86.5% from 88.1% in the previous quarter. Additionally, like-for-like rental income fell by 0.7% during the first half of 2026. The slower growth in operating metrics was attributed to one-off costs, including higher heating and snow clearance expenses from a cold first quarter, as well as start-up losses from the recently acquired A House coworking business.
A key development in the quarter was a conditional land allocation and development agreement with Ericsson for 58,000 square meters in the Hagastaden district. Atrium Ljungberg described this as the largest office leasing transaction in Swedish history. The 15-year lease carries an annual rental value of 360 million kronor and is expected to be finalized in autumn 2027. The deal was not included in Q2 net rental figures due to its conditional nature.
Other notable lettings included a 1,283-square-meter space for Stadium Outlet in Gränbystaden, Uppsala, a 530-square-meter unit for Curoflow Technology at Glashuset in Slussen, and a 459-square-meter restaurant and club at Mälarterrassen in Slussen. Net letting for the quarter totaled 15 million kronor.
The company reported negative property value changes of 79 million kronor, primarily due to revised cash flow assumptions for office properties in Gothenburg, Malmö, and Kista. Total property value stood at 62 billion kronor at the end of the quarter. The portfolio remains heavily concentrated in the Stockholm region, which accounts for 81% of geographic exposure, with offices making up 66% of the total portfolio.
