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Ovaro Kiinteistösijoitus (OVARO) investor relations material
Ovaro Kiinteistösijoitus Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1/2026 was €2.1 million, nearly flat year-over-year, but net profit turned to a loss of €1.9 million from a €1.0 million profit in H1/2025, mainly due to lack of income from development projects and €0.4 million in one-off administrative costs.
The company is shifting its listing to Nasdaq First North Growth Market Finland to achieve cost savings and focus resources on property development.
Operationally, several property sales and project preparations progressed, including the sale of Kuopio Teollisuuskatu 1 and preparations for major projects in Joensuu, Levi, and Kerava.
Financial highlights
H1/2026 revenue: €2.1 million (H1/2025: €2.1 million); net rental income: €0.2 million (H1/2025: €0.3 million).
Operating result: -€1.3 million (H1/2025: €3.8 million); net result: -€1.9 million (H1/2025: €1.0 million).
Cash and cash equivalents at period end: €1.6 million (30.6.2025: €10.4 million).
Net asset value per share: €5.00 (30.6.2025: €5.58).
Net loan-to-value: 60.4% (30.6.2025: 31.4%).
Outlook and guidance
Previous earnings guidance for 2026 was withdrawn on 17.8.2026; no new guidance provided.
Strategic targets for 2024–2027 include establishing the buy-develop-sell model, annual ROE above 10%, and equity ratio at least 40%.
H1/2026 ROE was -4.5%, below target; equity ratio was 49.6%, above target.
- Q1 2026 net loss widened to €1.12m, but strong pipeline and equity ratio support improved outlook.OVARO
Q1 2026 - 2025 profit increased to €1.47 million, with strong liquidity and improved outlook for 2026.OVARO
Q4 2025 - Profitability improved in 2025, with strong liquidity and a positive outlook for the year.OVARO
Q3 2025 - Q2/2025 profit surged on Apitare Oy sale, but H1 results were pressured by costs.OVARO
Q2 2025 - Net loss of -1.332 M€ for Jan–Sep 2024; 2024 result expected to weaken significantly.OVARO
Q3 2024 - Net profit fell, but revenue and investments in growth centers support future profit outlook.OVARO
Q2 2024 - Q1 2025 net loss driven by higher costs, but asset sales and projects support improved outlook.OVARO
Q1 2025 - Profit dropped on apartment sales, but Q4 was positive and development focus remains strong.OVARO
Q4 2024
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