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Cibus Nordic Real Estate (CIBUS) investor relations material
Cibus Nordic Real Estate Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Profits from property management rose 54% year-on-year, reaching EUR 21.8 million in Q3, or 9% per share, excluding prior year one-offs, driven by acquisitions and lower interest costs.
Earnings capacity per share increased 8% year-on-year and 2% quarter-on-quarter, now at EUR 1.07 per share, marking the ninth consecutive quarter of growth and an 18% rise since mid-2023.
Portfolio expanded to 643 properties across seven countries, with property value at EUR 2.5 billion and 95% of rental income from grocery and daily-goods tenants.
Successful deployment of EUR 90 million raised in June 2025 into accretive acquisitions, with share issue raising SEK 1 billion for acquisitions and debt repayment.
Monthly dividend payments continue, with a 5.9% yield at quarter-end share price and a dividend of EUR 0.90 per share set for the next 12 months.
Financial highlights
Rental income and NOI both up 38% year-on-year, with Q3 rental income at EUR 42.0 million and NOI at EUR 40.2 million.
Profit from property management reached EUR 21.8 million in Q3, and EUR 60.1 million for Jan–Sep 2025 excluding non-recurring items and FX.
Unrealized changes in property value were -EUR 2.9 million in Q3 and -EUR 7.5 million for Jan–Sep 2025, mainly due to revised assumptions in Finland.
EPRA NRV increased by EUR 1 per share over 12 months, now at EUR 12.9 per share.
Net LTV at 56.1%, interest coverage ratio at 2.4x, and net debt to EBITDA at 10.7x (forward-looking 9.7x).
Outlook and guidance
Focus remains on growing earnings capacity per share and consolidating the daily goods real estate asset class across Europe, with continued growth expected in the Nordic and Benelux regions.
Actively evaluating new markets in mainland Europe for potential expansion.
Transaction activity expected to increase in Q4, with continued interest in accretive acquisitions.
Management emphasizes stable cash flows and sustainability.
Dividend for the next 12 months set at EUR 0.90 per share, paid monthly.
How does Two+ JV secure future Belgian pipeline?
What is long-term NOI impact of early lease terminations?
What is earnings sensitivity to 1% interest rate change?
What drives new market entry decisions?
How do caps optimize financing costs?
What caused Finland's valuation changes?
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Next Cibus Nordic Real Estate earnings date
Q4 202518 Feb, 2026
Next Cibus Nordic Real Estate earnings date
Q4 202518 Feb, 2026
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Frequently asked questions
Cibus Nordic Real Estate, through its subsidiary Cibus Management Sverige AB, engages in acquiring, developing, and managing properties in Sweden for the long term. The company owns and manages residential and retail properties; manages properties on behalf of others; and provides facility management services.
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