Prisma Properties (PRISMA) investor relations material

Executive summary

• Rental income rose 19% year-over-year in Q2 2025, driven by acquisitions, completed projects, and CPI-adjusted leases.

• Net operating income increased 17% to SEK 100 million, with profit from property management at SEK 48 million.

• High economic occupancy rate of 99% and net letting of SEK 15 million in the quarter.

• First acquisition in Finland completed, marking a key step in Nordic expansion.

• Divested a property in Uppsala at book value due to strategic misalignment.

Financial highlights

• H1 2025 rental income was SEK 231 million, up 20% year-over-year; net operating income reached SEK 194 million, up 16%.

• Adjusted profit from property management was SEK 48 million for Q2 and SEK 93 million for H1, up from SEK 37 million and SEK 36 million prior year.

• Surplus ratio for H1 was 84% (87% prior year); Q2 surplus ratio at 87%.

• Average interest rate decreased to 4.13% due to loan renegotiation.

• Net profit for Q2 reached SEK 42 million, reversing a SEK 39 million loss in the prior year.

Outlook and guidance

• Focus remains on further acquisitions in Finland, with active M&A processes ongoing.

• Planned project startups over the next four quarters total SEK 1,145 million, aiming for an annual investment rate above SEK 1 billion.

• Guidance for paid tax rate may be revised downward from the previously indicated 10%, with updates expected in Q3.

• Ongoing and planned development projects expected to support future rental income and NOI growth.

• The transaction market is recovering, with increased competition and falling yields.