Fastighetsbolaget Emilshus (EMIL) Q1 2025 earnings summary

Executive summary

• Revenue increased by 29% to SEK 202 million compared to the same quarter last year, driven by property acquisitions and rental adjustments.

• Operating profit (förvaltningsresultat) rose 43% to SEK 93 million, with per-share growth of 33%.

• Net income reached SEK 133 million, up from SEK 67 million, with EPS at SEK 1.07 (0.57).

• Property portfolio expanded to 183 properties valued at SEK 10,066 million, with a 95% occupancy rate.

• Major acquisitions included 10 properties for SEK 791 million during the quarter and a post-period agreement for 35 properties in Skåne for SEK 1,400 million.

Financial highlights

• Cash flow from operations before working capital changes increased by 55% to SEK 85 million.

• Property value adjustments contributed SEK 62 million to results, while financial instrument revaluations added SEK 9 million.

• Net investments totaled SEK 1,065 million, mainly from property transactions.

• Direct yield on properties was 6.7%, and return on equity was 13%.

• Economic occupancy remained stable at 95%, with a weighted average lease term of 5.3 years.

Outlook and guidance

• 2025 operating profit forecast raised to SEK 375 million, excluding the Skåne acquisition, up from previous guidance of SEK 365 million.

• After the Skåne acquisition, property value is expected to reach SEK 11.5 billion, supporting further growth.