Asuntosalkku (ASUNTO) Q3 2026 earnings summary

Executive summary

• Strong profitability continued from Tallinn apartment sales, with realized sales prices and gains significantly exceeding balance sheet values and valuation levels.

• Owner value increased through profitable sales and ongoing share buybacks at prices well below book value per share.

• The only loan maturing this decade was fully repaid, strengthening the balance sheet.

• Core business remained stable and profitable, supported by lower interest rates and reduced financing costs.

Financial highlights

• Revenue for the period was €14.5 million, up from €14.2 million year-over-year; Q3 revenue was €4.7 million, up 6.1%.

• Net rental income totaled €8.4 million, down 3.1% year-over-year; Q3 net rental income was €2.8 million, down 1.3%.

• Realized profit for the period was €2.1 million, up 47.5% year-over-year; €0.7 million in Q3.

• Economic occupancy rate stood at 96.2% at period end.

• Earnings per share for the period was €0.73; book value per share was €120.85.

Outlook and guidance

• Management expects continued value creation through profitable apartment sales and share buybacks.

• Revenue for the full year 2025/2026 is guided at €17.5–20.0 million; realized profit expected at €2.5–4.5 million.

• Guidance assumes stable occupancy, continued strong Tallinn sales, and positive impact from lower reference rates.

• Uncertainties include European economic outlook, Finnish housing support changes, Tallinn and Finnish sales markets, interest rate changes, and geopolitical risks.