Corem Property Group (CORE) Q2 2025 earnings summary

Executive summary

• Stable core business with focused actions for long-term strength in the first half of 2025.

• Income for January–June 2025 was SEK 1,792 million, down from SEK 1,882 million year-over-year, with operating surplus at SEK 1,166 million (1,223).

• Net profit for the period was SEK -578 million (6), mainly due to negative property value changes and financial asset losses.

• Strategic divestments and cost control measures were implemented to strengthen the balance sheet and focus the property portfolio.

• Emphasis on tenant relations, property development, and maintaining an attractive, efficient portfolio.

Financial highlights

• Income for January–June 2025 was SEK 1,792 million.

• Profit from property management reached SEK 476 million.

• Property value stood at SEK 52 billion.

• Operating margin was 65% for the period, unchanged year-over-year.

• Cost decrease of 4% in the comparable portfolio.

Outlook and guidance

• Focus on improving occupancy rate and operating margin.

• The company maintains its objective to divest properties for more than SEK 5 billion in 2025, with nearly SEK 3.5 billion already agreed or completed.

• Continued optimization of financial structure and selective approach to new projects.

• Strong focus on projects supporting new lettings and environmental footprint reduction.

• Continued focus on balance sheet strengthening, capital structure improvement, and stable letting is expected for the second half of the year.