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Norden Estates
Norden Estates (NORDEN) investor relations material
Norden Estates Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary27 Feb, 2026
Executive summary
2025 marked a year of transformation, with a public listing, acquisition of Zustainment Bygg AB, and establishment of a scalable operational platform for industrial and logistics projects.
Revenue rose sharply to 14.9 MSEK from 1.8 MSEK year-over-year, reflecting active project operations.
Operating loss was -6.8 MSEK and net loss after financial items was -7.6 MSEK, in line with the expansion phase.
Key projects included completion in Hörby and the start of the first fully in-house contract in Ystad.
Verified energy performance in reference projects showed up to 60% lower energy use and 90% lower CO2 emissions compared to regulatory baselines.
Financial highlights
Full-year revenue: 14.9 MSEK (up from 1.8 MSEK year-over-year).
Operating result: -6.8 MSEK; net result after tax: -7.6 MSEK.
Q4 revenue: 4.6 MSEK; Q4 operating result: -1.6 MSEK.
Equity at year-end: 17.1 MSEK; net debt: 11.5 MSEK.
Cash and cash equivalents at year-end: 2.0 MSEK.
Outlook and guidance
Focus for 2026 is on stable project delivery, improved margin discipline, and increased revenue with controlled costs.
Targeting positive operating result in 2026 through higher project volume and efficiency.
Swedish market prioritized for 2026, with international expansion planned once scalability is achieved.
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Next Norden Estates earnings date
Q1 202629 May, 2026
Norden Estates
Next Norden Estates earnings date
Q1 202629 May, 2026
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