Backaheden Fastighets (BACKA) Q2 2025 earnings summary

Executive summary

• Rental income including service charges rose to 39,688 tkr for Jan–Jun 2025, up from 33,595 tkr year-over-year.

• Net operating income reached 34,667 tkr, compared to 28,418 tkr for the same period last year.

• Profit for the period was 8,378 tkr, up from 4,810 tkr year-over-year.

• High occupancy rate of 98% as of June 30, 2025, with major tenants on long-term leases.

• Financial performance and cash flow developed in line with expectations despite higher interest rates.

Financial highlights

• Q2 rental income including service charges was 18,835 tkr, up from 16,118 tkr in Q2 2024.

• Q2 net operating income was 17,293 tkr, up from 14,576 tkr in Q2 2024.

• Q2 profit for the period was 4,262 tkr, compared to a loss of -1,733 tkr in Q2 2024.

• Adjusted EPS for Jan–Jun 2025 was 3.93 kr, up from 3.43 kr year-over-year.

• Market value of properties as of June 30, 2025, was 1,092,300 tkr, up from 1,045,949 tkr at year-end 2024.

Outlook and guidance

• Focus on refinancing a 459 million SEK bank loan maturing in December 2025.

• Financial position strengthened through balance sheet optimization and increased rental income.

• No dividend for 2025 as per AGM decision.