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Fortinova Fastigheter (FNOVA) investor relations material
Fortinova Fastigheter Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue increased by 7% to 393 MSEK (367), driven by index adjustments, rent increases, and property acquisitions.
Operating surplus rose 9% to 245 MSEK (225), with a margin of 62% (61).
Management result improved 18% to 106 MSEK (90), or 2.1 SEK per share (1.8), despite 8 MSEK in one-off costs for the Nasdaq Stockholm listing.
Net profit for the year was 126 MSEK (114), or 2.4 SEK per share (2.2).
Strategic acquisitions in Varberg and Strömstad expanded the portfolio and geographic reach.
Financial highlights
Q4 revenue up 11% to 103 MSEK (93); operating surplus up 15% to 61 MSEK (53).
Q4 management result down 9% to 18 MSEK (20) due to one-off listing costs.
Unrealized property value changes: 73 MSEK (83) for the year; -1 MSEK (0) realized.
Derivative value changes: -12 MSEK (-15) for the year.
Long-term net asset value per share: 51 SEK (48).
Outlook and guidance
New business plan for 2026–2028 targets return on equity above 10%, interest coverage above 1.8x, and maximum loan-to-value of 60%.
Dividend policy remains at 40% of management result after tax over time.
No dividend proposed for 2025; focus on share buybacks to create shareholder value.
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