Aquaticus Real Estate (AQUAT) Q4 2025 earnings summary

Executive summary

• Operations continued according to business plan in 2025, maintaining a solid financial position.

• The property remained fully leased to a single tenant, Xylem Water Solutions, with a lease expiring in March 2029.

• External property valuation at year-end 2025 was SEK 740 million, down 2.2% year-over-year but unchanged from acquisition value.

• Project planning for garage floor renovation began, with execution planned for 2026–2027.

Financial highlights

• Full-year revenue was SEK 52.8 million, up from SEK 51.5 million year-over-year.

• Operating profit (förvaltningsresultat) for 2025 was SEK 16.2 million, down from SEK 20.1 million in 2024.

• Net result for 2025 was SEK -3.5 million, compared to SEK 21.1 million in 2024, mainly due to a negative unrealized property value change of SEK -17 million.

• Cash flow from operations for the year was SEK 17.4 million before working capital changes.

• Cash and cash equivalents at year-end were SEK 47.8 million, up from SEK 29.3 million.

Outlook and guidance

• The board intends to propose the 2026 dividend level at the AGM on May 19, 2026, considering potential refinancing.

• The company maintains a long-term dividend policy and strong liquidity.