Asuntosalkku (ASUNTO) Q4 2025 earnings summary

Executive summary

• Comparable revenue increased by 1.6% year-over-year to €19.2M, with a 97.9% occupancy rate maintained across the portfolio.

• Realized profit for the year rose to €2.2M, up 433.8% year-over-year, mainly due to lower interest and financing costs.

• The company is resuming dividend payments with a proposed €1.04 per share, totaling approximately €1 million.

• Portfolio consists of 2,073 completed apartments, with no ongoing construction at period end.

• Strong apartment sales in Tallinn at prices exceeding valuation estimates by up to 25%.

Financial highlights

• Revenue for the period was €19.2 million, and net rental income was €11.5 million.

• Adjusted EBITDA reached €8.6 million.

• Loan-to-value (LTV) ratio stood at 54.6%, and equity ratio at 43.9%.

• Cash and cash equivalents at period end were €6.3 million.

• Realized profit: €2.2M (vs. €0.4M prior year, +433.8%).

Outlook and guidance

• FY 2025/26 revenue guidance: €17.5–20.0M; realized profit expected at €2.5–4.5M.

• Focus remains on maintaining high occupancy and optimizing rental yields.

• Dividend policy prioritizes shareholder value, with dividends paid when deemed in the best interest of the company and shareholders.

• Guidance assumes continued high rental occupancy and stable net rental income, with ongoing portfolio optimization in Tallinn.