Asuntosalkku (ASUNTO) Q3 2025 earnings summary

Executive summary

• Core business remained stable in Q3, with no apartments under construction at period end.

• Realized profit for the nine months was €1.4 million, up from a €0.5 million loss year-over-year.

• High economic occupancy rate of 97.3% at the end of the period, reflecting strong rental operations.

• Active share buyback program continued, with €0.6 million spent in Q3.

• No new residential investments initiated during the period.

Financial highlights

• Revenue for the nine months increased by 1.2% year-over-year to €14.2 million, driven by rental income growth in Tallinn.

• Q3 revenue declined 8.3% year-over-year to €4.5 million due to lower capital gains from apartment sales.

• Net rental income for the nine months was €8.6 million, up 0.4% year-over-year.

• Q3 net rental income was €2.8 million, down 3.4% year-over-year, mainly due to higher maintenance charges and financial costs.

• Realized profit in Q3 was €0.0 million, compared to a €1.1 million loss in the prior year.

Outlook and guidance

• Revenue for the full year ending 30.9.2025 is expected to be €17.5–20.0 million.

• Realized profit for the year is forecast at €1.5–3.5 million.

• Guidance assumes continued high occupancy and stable net rental income.

• Positive impact anticipated from lower reference interest rates in 2024.

• Uncertainties include European economic outlook, changes in Finnish housing support, market developments in Tallinn and Finland, interest rate changes, and geopolitical risks.