Corem Property Group AB Class A (CORE.A) AI Stock Analysis

• Market Cap: kr6.43B
• Dividend Yield: 2.28%
• Average Volume (3M): 6.82K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.54
• Revenue Growth: -6.30%
• EPS Growth: 52.27%
• Country: SE
• Employees: 280
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -1.67
• Shares Outstanding: 93,124,270
• 10 Day Avg. Volume: 8,427
• 30 Day Avg. Volume: 6,823
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 1.61
• P/FCF Ratio: 6.87
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: kr4.00 ▼(-10.91% Downside)
• Action: Reiterated Date: 02/20/26
• Date: Action: Reiterated 02/20/26

Overall score reflects weak financial performance driven by recurring losses and high leverage, reinforced by bearish technical trends (price below key moving averages and negative MACD). A moderate dividend yield and positive free cash flow provide some support but do not materially offset the elevated earnings and balance-sheet risk.

Positive Factors

High gross margins

Sustained gross margins near 64% provide a structural profitability buffer for Corem’s rental and property-management activities. High margins help absorb vacancy, maintenance and re-leasing costs and support long-term cash generation even if top-line growth is slow.

Consistent free cash flow

Positive and steady free cash flow across the period underpins Corem's ability to fund operations, maintenance and selective developments without relying solely on equity. Durable FCF supports servicing liabilities and enables incremental value-creation initiatives.

Stable rental business model

Corem’s core revenue from contracted rents across logistics, industrial, office and retail creates recurring, contractually-backed cash inflows. A diversified commercial portfolio in Sweden reduces single-segment exposure and supports predictable long-term rental income.

Negative Factors

Elevated leverage

Debt-to-equity near 1.5–1.9x materially constrains financial flexibility. High leverage increases refinancing and interest-rate risk, limits capacity for opportunistic investments or development, and raises likelihood of asset sales under stressed market conditions.

Recurring net losses

Multi-year losses and falling revenue weaken retained earnings and return on equity, reducing internal funding for capex or debt paydown. Persistent negative profitability raises dependency on external financing or disposals to sustain operations and growth.

Cash flow small vs. debt

Although FCF is positive, its scale covers only a minor share of outstanding debt each year. This modest coverage heightens refinancing risk and leaves limited headroom for interest-rate increases or sustained capex, pressuring long-term balance-sheet repair.

Corem Property Group AB Class A Business Overview & Revenue Model

Company Description

Corem Property Group AB (publ), a real estate company, owns, manages, and develops industrial, warehouse, logistics, and retail properties in the Nordic region. As of December 31, 2021, it had 518 properties with a total lettable area of 3,479 thousand square kilometers. Corem Property Group AB (publ) was incorporated in 1993 and is headquartered in Stockholm, Sweden.

How the Company Makes Money

Corem Property Group AB generates revenue through multiple channels, primarily from leasing commercial properties to tenants, which includes long-term leases and rental agreements. The company also capitalizes on property management services, ensuring operational efficiency and tenant satisfaction. Additionally, Corem engages in property development projects, where it invests in the construction or renovation of real estate to increase asset value before leasing or selling. Strategic partnerships with local and international investors and developers further bolster its revenue streams, allowing for collaborative projects and shared financing opportunities.

Corem Property Group AB Class A Financial Statement Overview

Summary

Financial profile is pressured by contracting revenue and large, recurring net losses (2023–2025), alongside elevated leverage (~1.5–1.9x debt-to-equity). Positives include strong gross margins (~64%) and consistently positive free cash flow, but cash generation appears modest relative to debt, keeping financial risk elevated.

Income Statement

Revenue has been contracting for several years (down again in 2025), and profitability is highly volatile. While gross margins remained strong (~64% in 2024–2025), the company swung to deep losses in 2023 and remained loss-making in 2024–2025 (net margin ~-29% in 2024 and ~-96% in 2025). EBIT margin also deteriorated sharply in 2025 versus 2024, signaling weakened operating performance and/or large below-the-line impacts typical of property revaluations and financing effects.

Balance Sheet

Leverage is meaningfully elevated, with debt running around 1.5–1.9x equity (highest in 2025), which limits flexibility in a weaker earnings environment. Equity remains substantial in absolute terms, but returns on equity have been negative in most recent years (2023–2025), reflecting pressure on asset profitability and potential valuation/earnings volatility. Overall asset base has also trended down from 2022–2025, suggesting deleveraging and/or asset value declines.

Cash Flow

Cash generation is positive and relatively steady: operating cash flow and free cash flow were positive each year shown, including 2025, and free cash flow grew strongly in 2025 versus 2024. However, cash flow is modest relative to the debt load, with operating cash flow covering only a small portion of debt annually (roughly ~5–13% across the period, and ~7% in 2025). This keeps refinancing and interest-rate sensitivity as key risks despite positive free cash flow.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.46B	3.69B	4.24B	4.49B	2.91B
Gross Profit	2.21B	2.36B	2.88B	2.93B	1.87B
EBITDA	-2.62B	118.00M	2.73B	1.20B	5.29B
Net Income	-3.31B	-1.06B	-7.97B	3.03B	4.58B
Balance Sheet
Total Assets	53.13B	61.78B	64.85B	90.86B	92.24B
Cash, Cash Equivalents and Short-Term Investments	1.80B	586.00M	429.00M	2.08B	571.00M
Total Debt	31.65B	32.97B	34.71B	49.54B	47.83B
Total Liabilities	36.64B	40.27B	42.83B	59.55B	58.30B
Stockholders Equity	16.49B	21.51B	22.00B	31.27B	33.34B
Cash Flow
Free Cash Flow	812.00M	920.00M	718.00M	2.19B	927.00M
Operating Cash Flow	812.00M	920.00M	718.00M	2.23B	1.19B
Investing Cash Flow	3.73B	1.67B	13.83B	-1.29B	-954.00M
Financing Cash Flow	-3.29B	-2.44B	-15.10B	-583.00M	356.00M

Corem Property Group AB Class A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.49
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:CORE.A, the sentiment is Negative. The current price of 4.49 is above the 20-day moving average (MA) of 4.09, above the 50-day MA of 4.23, and below the 200-day MA of 4.77, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 43.31 is Neutral, neither overbought nor oversold. The STOCH value of 44.87 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:CORE.A.

Corem Property Group AB Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SFAST	70 Neutral	kr4.00B	11.14	6.08%	1.80%	-2.06%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
BRIN.B	62 Neutral	kr3.19B	35.22	2.27%	―	51.80%	―
PLAZ.B	60 Neutral	kr8.82B	12.58	5.26%	2.91%	8.42%	―
EAST	57 Neutral	kr4.73B	10.23	―	2.39%	―	―
CORE.A	45 Neutral	kr6.43B	-1.60	-8.81%	2.28%	-6.30%	52.27%
SBB.B	44 Neutral	kr7.36B	58.33	1.23%	―	-11.38%	―

Corem Property Group AB Class A Corporate Events

Corem deepens loss as it exits U.S. projects and refocuses on Swedish core portfolio

Corem Property Group reported weaker full-year 2025 results as lower property values and asset sales reduced income, operating surplus and net asset value, pushing the company to a net loss despite stable underlying earnings. Management highlighted that cost discipline, energy-efficiency measures and a resilient rental portfolio helped keep comparable net operating income flat, with modest positive net letting achieved in a cautious Swedish leasing market.

During the year Corem sold 46 properties worth SEK 5.2 billion and further streamlined its portfolio by exiting the 28&7 project in Manhattan and agreeing to divest the 417 Park Avenue development site, moves that sharply cut U.S. risk but triggered significant negative earnings effects. These divestments, together with bond and share buybacks and a credit rating downgrade to BB+ with stable outlook, underscore a strategic pivot toward deleveraging and focusing capital on Swedish core markets, with implications for future growth, stability and value creation for stakeholders.

The most recent analyst rating on ($SE:CORE.A) stock is a Hold with a SEK4.00 price target. To see the full list of analyst forecasts on Corem Property Group AB Class A stock, see the SE:CORE.A Stock Forecast page.

Corem Sells 417 Park Avenue to Cut Risk and Refocus on Core Swedish Markets

Corem Property Group has agreed to divest its vacant land plot at 417 Park Avenue in Manhattan, New York, which carries building rights for roughly 33,000 square metres of office space, in a conditional transaction expected to close in the second quarter of 2026. While the sale is projected to generate a negative net income effect of about SEK 1.45 billion and prevents Corem from realizing potential project profits or reaching the current book value, it will deliver a positive liquidity boost of approximately SEK 2.3 billion, materially reduce development and market risk, cut future investment needs, and support the company’s strategy of refocusing capital and exposure on its core Swedish real estate markets over the long term.

The most recent analyst rating on ($SE:CORE.A) stock is a Hold with a SEK4.50 price target. To see the full list of analyst forecasts on Corem Property Group AB Class A stock, see the SE:CORE.A Stock Forecast page.

Corem Property Group Launches Share Buyback to Optimize Capital Structure

Corem Property Group AB has launched a share buyback programme following an authorisation granted at its April 2025 Annual General Meeting, allowing the company to repurchase its own shares on Nasdaq Stockholm or other regulated markets until the next AGM, up to a maximum holding of 10% of its total shares. The initiative, which comes as Corem currently holds 2.69% of its registered shares and 2.85% of voting rights across its A, B and D share classes, is intended to give the board greater flexibility to optimise the company’s capital structure and potentially enhance shareholder value.

The most recent analyst rating on ($SE:CORE.A) stock is a Hold with a SEK4.50 price target. To see the full list of analyst forecasts on Corem Property Group AB Class A stock, see the SE:CORE.A Stock Forecast page.

Scope downgrades Corem Property Group to BB+ with stable outlook

Scope Ratings has downgraded Corem Property Group’s credit rating from BBB- with a negative outlook to BB+ with a stable outlook, citing risks linked to higher average vacancy following recent divestments and pressure on the company’s interest coverage ratio based on its third-quarter results and subsequent information. Corem’s CEO Rutger Arnhult said the positive drivers highlighted by Scope are in line with the company’s strategy, stressing a focus on leasing opportunities, strengthening key financial metrics and using selective property transactions to enhance portfolio efficiency after a period of capital freeing, developments that are closely watched by investors and creditors amid a challenging real estate financing environment.

The most recent analyst rating on ($SE:CORE.A) stock is a Hold with a SEK4.50 price target. To see the full list of analyst forecasts on Corem Property Group AB Class A stock, see the SE:CORE.A Stock Forecast page.

Corem Property Group to Divest 417 Park Avenue Property in Strategic Move

Corem Property Group has signed a letter of intent to sell its property at 417 Park Avenue in New York to a U.S.-based real estate developer. This divestment is expected to result in a net income effect of approximately SEK -1 billion but will provide a positive liquidity effect of about SEK 2.3 billion. The sale aligns with Corem’s strategy to concentrate on the Swedish real estate market, reducing development and market risks while freeing up capital for more efficient allocation.

The most recent analyst rating on ($SE:CORE.A) stock is a Hold with a SEK4.50 price target. To see the full list of analyst forecasts on Corem Property Group AB Class A stock, see the SE:CORE.A Stock Forecast page.