Episurf Medical (EPIS) Q2 2026 earnings summary

Executive summary

• Transitioned from a medtech company to a Nordic real estate platform focused on stable cash flows and scale advantages.

• Major acquisitions of property portfolios, including Mofast and KlaraBo, increased property value and earnings capacity.

• Strategic decision to wind down medtech operations and focus resources on real estate.

Financial highlights

• Rental income rose 257% year-over-year to SEK 17.5m for H1 2026; operating profit up 254% to SEK 13.1m.

• Net result after tax was SEK -234m, impacted by SEK -162.4m goodwill impairment and SEK -20.1m property revaluation.

• Cash flow from operations before working capital changes was SEK -44.4m.

• Property investments totaled SEK 969m, mainly from acquisitions.

Outlook and guidance

• Targeting SEK 10bn in underlying property value by year-end 2026.

• Pro forma property assets expected to reach SEK 5.9bn with annual rental income of SEK 496m and occupancy of 94.3%.

• Continued focus on disciplined growth and improved financing terms as scale increases.