Annehem Fastigheter (ANNE) Q2 2025 earnings summary

Executive summary

• Achieved record quarterly income from property management, up 25% excluding exchange rate effects, and net operating income up 12% compared to the same quarter last year.

• Rent revenue increased by 10.2% to MSEK 77.5 in Q2 and by 9.8% to MSEK 150.2 for the half-year, driven by acquisitions and new leases.

• Net letting remained positive at MSEK 2.8 for the quarter, with a major ten-year lease signed in Ljungbyhed Park.

• Property value rose 9.0% year-over-year to MSEK 5,121.2, supported by acquisitions and investments.

• Sustainability initiatives led to a 4% reduction in total energy consumption in a newly built property and increased the share of environmentally certified property value to 83%.

Financial highlights

• Net operating income for Q2 was MSEK 65.3, up 11.5% year-over-year; for the half-year, MSEK 120.1, up 3.4%.

• Income from property management in Q2 was MSEK 32.0, up 29.2%; for the half-year, MSEK 52.7, up 14.3%.

• Net income for Q2 was MSEK 1.4 (down from 13.6), and for the half-year MSEK 13.3 (up from 4.4).

• Economic occupancy rate declined to 89.8% from 92.5% year-over-year.

• Surplus ratio for Q2 was 84.3% (up from 83.2%).

Outlook and guidance

• Management remains positive about achieving long-term financial goals, citing strong quarterly and half-year results.

• Signs of improvement in the property transaction market, with increased activity and better alignment between buyers and sellers.

• Continued focus on acquisitions and value-creating investments, supported by stable cash flow and refinancing.