Annehem Fastigheter (ANNE) Q4 2025 earnings summary

Executive summary

• Achieved strong operational efficiency and growth, with rent revenue up 9.7% to MSEK 301.6 and total revenue at MSEK 345.9 for 2025.

• Positive net letting in all quarters, totaling MSEK 8.2.

• Extended and renewed key lease agreements, contributing to tenant satisfaction (NKI 81).

• Net income for the year was MSEK -4.4, down from MSEK 18.5 in 2024, mainly due to negative unrealised property value changes.

• Board initiated a share repurchase program up to 3% of total shares.

Financial highlights

• Rental income for the year reached 301.6 Mkr, up 9.7% year-over-year.

• Net operating income increased 4.8% to MSEK 240.7.

• Income from property management (excluding currency effects) was 111.2 Mkr, up 14.3% year-over-year.

• Unrealised changes in property values were MSEK -93.2, compared to MSEK -57.8 last year.

• Earnings per share rose 10.3% to 1.26 kr.

Outlook and guidance

• Decision made to initiate a share buyback program.

• Management remains optimistic, citing Sweden's economic recovery, expected fiscal stimulus, and improving employment.

• Demand for high-quality, sustainable office premises in growth regions is expected to remain stable.

• Continued focus on operational efficiency and growth through acquisitions and divestments.