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

• Market Cap: kr7.50B
• Dividend Yield: 2.28%
• Average Volume (3M): 6.82K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: -6.30%
• EPS Growth: 52.27%
• Country: SE
• Employees: 280
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Services
• EPS (TTM): -0.32
• Shares Outstanding: 93,124,270
• 10 Day Avg. Volume: 8,427
• 30 Day Avg. Volume: 6,823
• PEG Ratio: 0.08
• Price to Book (P/B): 0.35
• Price to Sales (P/S): 2.04
• P/FCF Ratio: 8.18
• 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: 52 Neutral
• Price Target: kr4.50 ▲(0.22% Upside)

The score is primarily held back by weak financial performance: persistent net losses and elevated leverage outweigh the benefit of positive operating/free cash flow. Technicals are supportive in the short term (price above key shorter moving averages and positive MACD) but are overbought, increasing near-term downside risk. Valuation is mixed, with a moderate dividend yield but a negative P/E due to losses.

Positive Factors

Strong operating and free cash flow

Sustained positive operating and free cash flows provide durable internal funding for maintenance, capex and selective redevelopment. This cash generation cushions accounting losses, supports interest and short-term obligations, and gives management flexibility to pursue value‑add initiatives.

High gross and reported EBIT margins

Robust gross and EBIT margins indicate core property operations and leasing economics are profitable. Durable operating profitability supports cash generation even with below‑line volatility, enabling reinvestment in assets and underwriting redevelopment projects that drive long‑term asset value.

Deleveraging trend vs 2022

A demonstrable reduction in debt versus 2022 points to active balance sheet management. If continued, this trend lowers refinancing risk and interest sensitivity, improving financial resilience and capacity to absorb cyclical shocks in the real estate market over the medium term.

Negative Factors

Persistent net losses and very weak net margin

Sustained net losses and a deeply negative net margin erode equity returns and signal that below‑operating items (financing, valuations) materially depress profitability. Over time this limits retained earnings, constrains dividends and may force asset disposals or dilutive financing to shore up capital.

Elevated leverage with limited coverage

High debt-to-equity (~1.5–1.6) combined with cash flow that covers only a small fraction of total debt raises medium‑term refinancing and interest‑rate vulnerability. Persistent leverage limits strategic optionality and increases the risk that adverse market moves force asset sales or covenant pressure.

Top-line weakness / declining revenue

A retreat in revenue indicates weakening leasing momentum or pricing pressure in key segments. Over months this erodes the rent roll foundation that funds operations and debt service, making it harder to restore profitability and increasing reliance on active asset management to stabilize cash flows.

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

Income statement is weak with recurring net losses and very poor net margin (around -51%) despite strong gross margin (~64%) and solid reported EBIT margin, suggesting meaningful below-the-line pressures. Balance sheet risk is material with elevated leverage (debt-to-equity ~1.5–1.6) and negative ROE, though debt has trended down versus 2022. Cash flow is a relative bright spot with positive TTM operating cash flow (~972M) and free cash flow (~662M), but FCF is down sharply versus last year and debt coverage remains low.

Income Statement

TTM (Trailing-Twelve-Months) revenue slipped modestly and the company remains loss-making (net margin around -51%), following another annual loss in 2024 and a very large loss in 2023. That said, underlying profitability above the net line looks relatively solid with strong gross margin (~64%) and high reported EBIT margin in TTM, suggesting earnings pressure is likely coming from items below operating profit (e.g., financing, valuation, or other non-operating impacts). Overall, earnings quality and consistency are weak despite resilient top-line and gross profit.

Balance Sheet

Leverage is elevated and fairly persistent, with debt-to-equity around ~1.5–1.6 in both TTM (Trailing-Twelve-Months) and recent annual periods. Equity remains meaningful (TTM equity ~18.9B vs. assets ~56.5B), but negative returns on equity in TTM and 2024 indicate the balance sheet is not currently generating acceptable profitability for shareholders. Debt has trended down versus 2022, which is a positive, but overall balance sheet risk remains material given the leverage and losses.

Cash Flow

Cash generation is a relative bright spot: TTM (Trailing-Twelve-Months) operating cash flow (~972M) and free cash flow (~662M) are positive, and 2024 also showed positive free cash flow (~920M). However, free cash flow declined sharply in TTM versus the prior year, and cash flow covers only a small fraction of total debt (low coverage ratio), limiting deleveraging capacity. Still, positive free cash flow alongside accounting losses suggests some earnings headwinds may be non-cash in nature.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.56B	3.69B	4.24B	4.49B	2.91B	894.00M
Gross Profit	2.28B	2.36B	2.88B	2.93B	1.87B	668.00M
EBITDA	1.84B	118.00M	2.73B	1.20B	5.29B	1.47B
Net Income	-1.80B	-1.06B	-7.97B	3.03B	4.58B	-108.00M
Balance Sheet
Total Assets	56.51B	61.78B	64.85B	90.86B	92.24B	18.67B
Cash, Cash Equivalents and Short-Term Investments	314.00M	586.00M	429.00M	2.08B	571.00M	15.00M
Total Debt	30.66B	32.97B	34.71B	49.54B	47.83B	9.85B
Total Liabilities	37.66B	40.27B	42.83B	59.55B	58.30B	11.40B
Stockholders Equity	18.85B	21.51B	22.00B	31.27B	33.34B	7.28B
Cash Flow
Free Cash Flow	662.00M	920.00M	718.00M	2.19B	927.00M	367.00M
Operating Cash Flow	972.00M	920.00M	718.00M	2.23B	1.19B	370.00M
Investing Cash Flow	2.15B	1.67B	13.83B	-1.29B	-954.00M	-2.02B
Financing Cash Flow	-3.38B	-2.44B	-15.10B	-583.00M	356.00M	1.65B

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: Positive

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 4.44, above the 50-day MA of 4.25, and below the 200-day MA of 4.83, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 44.26 is Neutral, neither overbought nor oversold. The STOCH value of 19.05 is Positive, 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	kr4.19B	11.72	6.08%	1.80%	-2.06%	―
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
EAST	63 Neutral	kr4.86B	11.75	―	2.39%	―	―
BRIN.B	62 Neutral	kr3.50B	20.04	2.27%	―	51.80%	―
PLAZ.B	60 Neutral	kr8.91B	12.71	5.26%	2.91%	8.42%	―
CORE.A	52 Neutral	kr7.50B	-2.85	-8.81%	2.28%	-6.30%	52.27%
SBB.B	44 Neutral	kr8.53B	66.67	1.23%	―	-11.38%	―

Corem Property Group AB Class A Corporate Events

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.

Corem Property Group Navigates Challenges with Strategic Moves

Corem Property Group reported a challenging financial performance for the first nine months of 2025, with declines in income, operating surplus, and profit from property management. Despite these challenges, the company has been actively managing its portfolio and financial obligations, including redeeming bonds and issuing new green bonds. Strategic divestments have been made to streamline operations and focus on long-term goals, with significant property sales in Sweden and the US. The company remains optimistic about future market conditions, supported by recent interest rate cuts and signs of economic stabilization.

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.