Brinova Fastigheter (BRIN) investor relations material

Executive summary

• Rental income rose 89% year-over-year to SEK 272.0 million, mainly due to the acquisition of K-Fastigheter Syd's property portfolio.

• Net operating surplus increased 80% to SEK 160.0 million, with a surplus ratio of 58.8%.

• Profit from property management grew 36% to SEK 53.2 million, or SEK 58.1 million adjusted for non-recurring items.

• Profit for the period surged to SEK 120.8 million from SEK 21.4 million year-over-year.

• Strategic acquisitions in Växjö and Hässleholm added 270 apartments and enhanced management efficiency.

Financial highlights

• Rental income: SEK 272.0 million (up 89% year-over-year).

• Net operating surplus: SEK 160.0 million (up 80%).

• Profit from property management: SEK 53.2 million (up 36%), adjusted to SEK 58.1 million excluding SEK 4.9 million in non-recurring financial redemption costs.

• Changes in property values: SEK 63.2 million (from SEK -3.8 million year-over-year).

• Changes in value of derivatives: SEK 43.4 million (from SEK 0.8 million).

• Profit for the period: SEK 120.8 million (from SEK 21.4 million).

• Equity per share: SEK 31.7 (up from SEK 29.5).

• Economic occupancy rate: 94.4%.

Outlook and guidance

• Focus remains on profitability, growth, and liquidity, with no dividend proposed for 2025.

• Optimism for continued stable demand in southern Sweden's rental and community services property markets.

• Ongoing and future projects expected to support long-term value creation.