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
  createdAt
  changedAt
  isPremium
  authors {
    __typename
    name
    pageUrl
    id
  }
  companies {
    name
    id
  }
  tags {
    name
    id
  }
  ... 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
      researchContentUrl
    }
    ... 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
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      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
    }
  }
}


cibus-forvarvar-23-fastigheter-i-fyra-lander-for-1039-meur

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

changedAt

Cibus Real Estate operates in the real estate industry and focuses on the acquisition, development and management of commercial properties. The company's portfolio includes office and retail properties. The operations are primarily concentrated in the Nordic region, with a main presence in Sweden, Norway and Finland. Cibus Real Estate was founded in 2018 and is headquartered in Stockholm, Sweden.

Let’s do another similar random comparison between the year-end and Q1 based on my message above.  Finland’s share of NOI continues to shrink. Percentages Q4/25 → Q1/26: Finland 48% → 46%. Norway 4% → 5% and Denmark 14% → 16%, others unchanged.  By the way, the company also recently decided on a name update, and “Nordic” was dropped. Europeanization continues and it still sounds good to me, even though these percentages only shifted between the Nordic countries.   Interest coverage ratio remains unchanged at the 2.4x level. The company targets / guides for a level above 2.0x. The number of properties with solar panels has increased from 80 to 82. Apparently, this is no longer highlighted in the Key Figures table at the beginning of the report, but it can be found in the sustainability section. Nowadays, “Property value, green assets” is reported at the beginning, which grew by a hair—about half a percent—during Q1. Debt ratio (net debt/EBITDA) has slightly decreased, 10.9x → 10.4x. Earnings capacity per share remains unchanged: “Earnings capacity remains unchanged at EUR 1.08 per share.” Portfolio occupancy rate is close to Q4 levels, 95.7% → 95.6%, and WAULT is also close to Q4 levels, 6.0y → 5.9y.  At the same time, a deal of over EUR 100M was announced, involving the purchase of 23 new properties in the Nordics. For these, both the occupancy rate (99.5%) and WAULT (7.8y) are higher than the rest of the portfolio. Based on my own assessment, the steady performance continues. No fireworks, but nothing to worry about either. The market seemed to agree, as the share price reaction was practically zero. I think the company’s reports are clear and a pleasant read, but the earnings call left much to be desired when I watched it this afternoon. It certainly makes things more difficult when you can’t present in your native language, but it was a completely different story compared to, for example, Rauhala’s presentation at Kesko this morning .

Cibus Q1: January - March 2026 (compared with January - March 2025)  Rental income amounted to EUR 45.3 million (39.1). Net operating income totalled EUR 42.6 million (36.6). Profit from property management amounted to EUR 20.9 million (18.4) excluding non-recurring items and exchange rate effects, and to EUR 20.8 million (38.0) including non-recurring items and exchange rate effects. The previous year’s result was affected by income of EUR 20.5 million in the form of negative goodwill in connection with the acquisition of the Benelux operations. Earnings after tax for the period amounted to EUR 24.9 million (31.0), corresponding to EUR 0.30 (0.42) per share. Unrealised changes in value affected by EUR -4.2 million (-7.3) on properties and by EUR 14.0 million (-1.3) on interest rate derivatives. EPRA NRV amounted to EUR 1,063.1 million (964.7), corresponding to EUR 13.0 (12.6) per share.  “It is gratifying that, following the quarter, we have completed acquisitions that both raise the standard of Cibus’s portfolio and increase earnings per share.”  Stina Lindh Hök, CEO                   Inderes              Q1 2026  Interim Report  Cibus Real Estate AB (publ) - Inderes    January - March 2026 (compared with January - March 2025)Rental income amounted to EUR 45.3 million (39.1).Net operating income totalled EUR 42.6 million (36.6).Profit from property management...

New CFO appointed:                   Inderes              Ann-Sofie Lindroth appointed as CFO of Cibus Nordic Real Estate AB (publ) -...    Ann-Sofie Lindroth takes over as CFO of Cibus Nordic Real Estate AB (publ) after Pia-Lena Olofsson. Ann-Sofie, who most recently comes from the role of CFO at Nyfosa, will take up her position...

I agree with @TurskaTasku that it’s a shame there’s no Inderes coverage for this. I would also love to follow more discussion around this, and unfortunately, the thread is quite quiet. However, I think the company’s own materials are quite good. I follow this to some extent since it has been in my portfolio for a while. (A bad habit of first getting an idea for an opening position and only then developing a greater interest in closer monitoring (and potential additions  )). Regardless, I’ll contribute my own small bit to the cause with this message. I like the company’s motto “Converting food into yield.” Grocery and daily goods stores are unlikely to disappear from the streets and city outskirts anytime soon, and they probably won’t just move entirely online. The business is easy to think of as generally quite stable. Also, Cibus’s largest tenants can certainly be considered fairly low-risk rent payers. Above, it was hoped that the dividend would have grown. In my opinion, it is quite welcome that the dividend was not increased at this point. As I see it, this creates a more solid foundation for specifically that rising dividend-paying capacity; after all, a dividend cut is poison for things like this… Even the current dividend (€0.90) is over 6% at this share price and significantly higher than average (Retail REITs avg. dividend yield 4.74% - Source: Nareit). Keeping the dividend unchanged also brings the payout ratio to a slightly more reasonable level and provides room for new acquisitions (or bringing down indebtedness). Earnings capacity per share has developed as follows: Q1/24 - €0.95 —> Q1/25 - €0.99 —> Q1/26 - €1.08 Thus, the payout ratio has dropped from nearly 95% to around 83%, which I think is a much more sustainable level and indeed leaves some room for maneuver. Gemini mentioned that for US Retail REIT peers, the avg. payout ratio for Net Lease companies is around 70-76%. On the other hand, they might not be directly comparable from across the ocean. European real estate companies also historically operate with more debt than their US counterparts (source: J. Askola’s recent book). In my view, Cibus seems to be developing in a good direction; performance is improving. Finally, a few highlights picked from the report:  Finland’s share of NOI has apparently decreased slightly from 51% → 48%. This is likely not a bad thing in terms of diversification. A more evenly and widely diversified European food and daily goods retail property investment company sounds good. According to the CEO’s comment, growth opportunities are seen in current markets, and new Continental European markets are being evaluated. Interest coverage ratio (ICR) strengthened in a year from 2.2x to 2.4x. The company targets / guides for a level over 2.0x. (Equity REITs avg. 4.3x - Source: Nareit) The number of properties with solar panels has increased from 49 to 80. I have no idea about the profitability of solar panel investments or, for example, what Kesko requires from its properties in terms of ESG. It might be a neutral matter, but at least they seem to be keeping up with the times and responding to demand and customer requirements. Debt ratio (net debt/EBITDA) has increased slightly, 10.4x –> 10.9x. Acquisitions have been made, but things seem to be under control; ICR and earnings capacity per share have strengthened. 99% of leases are tied to CPI increases, 95.6% of the portfolio is leased, and WAULT 5y—>6y  And to this: “I’ve started to wonder a bit whether shareholder value is really being maximized here or if they’re just doing some flashy ‘bumtsibum’ arrangements that just destroy value.” As I see it, at least over the last year, there haven’t been value-destroying arrangements—on the contrary. The number of shares has indeed grown tremendously from last year’s 63M to the current approximately 82M. However, earnings capacity per share is growing, which means that dilution hasn’t hit your holdings over the last year. Real estate companies are somewhat new to me, so don’t blindly trust these ramblings, even if they are largely a recap of the report’s figures  Writing serves as practice for me too; thoughts get organized, and understanding perhaps improves through that as well.

I’m perfectly fine with the dividend staying the same. I doubt we’ll have to wait long before new acquisitions are announced

Thanks, that earnings capacity is a good metric and at least its slope is in the right direction!

A property type that I am indeed happy to own myself. I would have liked to see a small increase in dividends, referring specifically to that rising “dividend-paying capacity”.

Cibus Real Estate

Cibus Real Estate AB (publ) ("Cibus") har i fem separata transaktioner förvärvat 23 fastigheter i Danmark, Finland, Norge och Sverige. Förvärvspriset uppgår till 103,9 MEUR och den årliga hyresint...

<div class="bequoted-body">Cibus Real Estate AB (publ) ("Cibus") har i fem separata transaktioner förvärvat 23 fastigheter i Danmark, Finland, Norge och Sverige. Förvärvspriset uppgår till 103,9 MEUR och den årliga hyresintäkten är 7,30 MEUR. Den genomsnittliga återstående avtalstiden är 7,8 år.Ankarhyresgäster är Rema 1000 i Danmark och Norge, Tokmanni och Lidl i Finland samt ICA i Sverige. Fastigheterna har en uthyrningsbar yta om 59 530 kvm och är 99,5 procent uthyrda. Hyresgäster inom dagligvaror står för cirka 75 procent av den totala hyresintäkten.Tre av transaktionerna, som motsvarar 20 procent av förvärvspriset, har tillträtts i mars och april. De kvarstående två transaktionerna kommer att tillträdas i slutet av april och i början av maj."Fastigheterna håller generellt god standard och är belägna i etablerade lägen där verksamheterna fungerar väl. Det är glädjande att vi har genomfört förvärv som både höjer standarden på Cibus portfölj och intjäningen per aktie." säger Stina Lindh Hök, VD Cibus Real Estate AB.För ytterligare information, vänligen kontakta: Stina Lindh Hök, VD <a href="mailto:stina.lindhhok@cibusrealestate.com">stina.lindhhok@cibusrealestate.com</a> +46 (0)8 12 439 100Pia-Lena Olofsson, CFO <a href="mailto:pia-lena.olofsson@cibusrealestate.com">pia-lena.olofsson@cibusrealestate.com</a> +46 (0)8 12 439 100Cibus är ett fastighetsbolag noterat på Nasdaq Stockholm Mid Cap. Företagets affärsidé är att förvärva, utveckla och förvalta fastigheter av hög kvalitet i Europa med dagligvaruhandelskedjor som ankarhyresgäster. Företaget äger för närvarande cirka 700 fastigheter i Europa. De största hyresgästerna är Kesko, Tokmanni, Coop, S-gruppen, Rema 1000, Salling, Lidl, Dagrofa, Jumbo och Carrefour.</div><div class="bequoted-files">Bifogade filer<a href="https://cdn.bequoted.com/media/1/3fd321da-5efb-42b6-a47f-e3164445d456/Cibus_Pressrelease_2026-04-29.pdf" rel="noopener">Cibus_Pressrelease_2026-04-29.pdf</a> </div>