Doxa (DOXA) Q2 2026 earnings summary

Executive summary

• Completed first acquisition under new strategy: Lerum Ölslanda 10:82, expected to add SEK 2M to annual net operating income.

• Opened Gothenburg View at Karlatornet, attracting over 2,000 visitors in the first days and enhancing commercial presence in Gothenburg.

• Strengthened management with new CFO, Navid Rostam, to focus on financing and capital structure.

• Continued portfolio streamlining, with selective acquisitions and divestments to optimize asset base.

Financial highlights

• Q2 2026 revenue: SEK 6.3M (Q2 2025: SEK 8.8M); H1 2026 revenue: SEK 18.4M (H1 2025: SEK 11.3M).

• Q2 2026 net operating income: SEK -4.4M (Q2 2025: SEK 1.8M); H1 2026: SEK 0.5M (H1 2025: SEK -1.4M).

• Q2 2026 net result: SEK -8.0M (Q2 2025: SEK -122.8M); H1 2026: SEK -28.7M (H1 2025: SEK -162.6M).

• NAV per share: SEK 1.49; share price at period end: SEK 0.41.

• Market value of properties: SEK 3,691.1M.

Outlook and guidance

• Ongoing analysis of further acquisitions, with focus on cash flow-positive assets.

• Positive market trends in Gothenburg, with residential prices up 7% and construction costs up 2% since November 2025.

• Board actively evaluating financing options to secure future operations.