Fastighetsbolaget Emilshus (EMIL) Q2 2025 earnings summary

Executive summary

• Income rose 30% to MSEK 415 for Jan–Jun 2025, driven by property acquisitions and rent adjustments; profit from property management increased 40% to MSEK 190 year-over-year.

• Net profit for the period was MSEK 211, up from MSEK 152, with profit from property management per ordinary share up 26% to SEK 1.41.

• Cash flow from operating activities before changes in working capital increased 47% to MSEK 177.

• Major acquisitions included 35 properties in western Skåne for MSEK 1,400, expanding the company’s presence in the Öresund region.

• A directed share issue in May raised MSEK 546, supporting further growth and strengthening the capital base.

Financial highlights

• Income for Q2 2025 increased 31% to MSEK 213; net operating income for the quarter was MSEK 171, up from MSEK 132.

• Profit from property management for Q2 rose 38% to MSEK 98; net profit for Q2 was MSEK 78.

• Unrealized changes in value of investment properties contributed MSEK 121 for the half-year; changes in value of financial instruments were MSEK -62.

• Property value at period end was MSEK 10,512, up from MSEK 8,292 year-over-year.

• Economic occupancy rate remained stable at 95%; average yield for the period was 6.7%.

Outlook and guidance

• Full-year 2025 profit from property management forecast raised to MSEK 400, reflecting recent acquisitions and portfolio growth.

• The company targets at least 15% annual growth in profit from property management per ordinary share and a 15% average return on equity over five years.