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ALM Equity (ALM) investor relations material

ALM Equity Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary17 Jul, 2025

Executive summary

  • Revenue for Jan–Jun 2025 was SEK 536m, down from SEK 1,135m year-over-year; Q2 revenue at SEK 258m compared to SEK 894m last year.

  • Net result for Jan–Jun 2025 was SEK -225m, a decline from SEK -157m year-over-year; Q2 net result at SEK -62m versus SEK 119m last year.

  • Focus remains on accelerating value creation, executing the business plan, and increasing project acquisition capacity.

  • Board changes: Alexander Alm-Pandeya joined, Johan Unger departed.

  • Application submitted for SBTi climate targets verification.

Financial highlights

  • Return on equity for Jan–Jun 2025 was -13%; Q2 at -5% compared to 3% last year.

  • Equity ratio improved to 55% as of Q2 2025 from 41% last year.

  • Cash and cash equivalents at SEK 861m at Q2 2025, up from SEK 267m year-over-year.

  • Operating result for Q2 2025 was -17 MSEK, down from 142 MSEK last year.

  • Earnings per share (before dilution): -5.67 SEK for Q2 2025 (Q2 2024: 4.78 SEK).

Outlook and guidance

  • Market expected to remain complex and volatile, but rental market seen as most stable segment.

  • Real GDP growth for 2025 forecast at 1–2%, with inflation at 1.2% and nominal wage increases at 3.5%.

  • Riksbank rate cut and government proposals may support market recovery; focus remains on flexibility and project pipeline.

  • No new acquisitions yet, but market offers potential assets for required returns.

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Frequently asked questions

ALM Equity AB is a Swedish real estate development company. The company operates through five main segments: Property Management, Project Development, Construction Management, Financing, and Digital Services. ALM Equity focuses on owning and developing independent companies within these segments to drive sustainable and innovative development of the property sector. Their business model centers on investing and developing companies based on the future market needs, actively managing these investments to create maximum value over the long term. This includes the packaging, financing, and restructuring of assets and/or companies to build a stable platform for potential stock market listing, with a significant ownership stake maintained for active participation in their development. The company is headquartered in Stockholm, Sweden, and its shares are listed on the NASDAQ First North Growth Market.

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