Fastighetsbolaget Emilshus (EMIL) Q4 2024 earnings summary

Executive summary

• Revenue increased by 14% to SEK 674 million year-over-year, driven by property acquisitions and rental adjustments.

• Net profit for the year was SEK 288 million, up from SEK 33 million, with a significant positive impact from property revaluations.

• The company expanded its property portfolio to 172 assets, focusing on high-yield commercial properties in southern Sweden.

• No dividend proposed for common shares; SEK 2.00 per preference share in line with policy.

Financial highlights

• Operating profit (förvaltningsresultat) rose 27% to SEK 297 million; per common share up 15% to SEK 2.36.

• Cash flow from operations before working capital changes increased by 38% to SEK 270 million.

• Property value at year-end was SEK 8,940 million, up from SEK 7,324 million.

• Direct yield on properties was 6.7%; economic occupancy rate remained at 95%.

• Net debt increased to SEK 4,617 million; net loan-to-value ratio stable at 52%.

Outlook and guidance

• Forecast for 2025 operating profit is SEK 365 million, based on current portfolio and announced acquisitions.

• The company remains focused on profitable growth and financial stability, with a robust pipeline of projects and acquisitions.