Fastighetsbolaget Emilshus (EMIL) Q4 2024 earnings summary

Executive summary

• Revenue increased by 14% to SEK 674 million for 2024, driven by property acquisitions and rental adjustments.

• Net income rose to SEK 288 million (from SEK 33 million), with a significant positive property revaluation effect.

• Property portfolio expanded to 172 properties valued at SEK 8,940 million, with a 95% economic occupancy rate.

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

• 2025 management result forecasted at SEK 365 million, reflecting continued growth.

Financial highlights

• Operating profit (management result) up 27% to SEK 297 million; per share up 15% to SEK 2.36.

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

• Property revaluations contributed SEK 127 million; financial instrument revaluations impacted by SEK -37 million.

• Q4 revenue up 24% year-over-year; Q4 management result up 49% to SEK 85 million.

• Net investments totaled SEK 1,489 million, mainly in property transactions.

Outlook and guidance

• 2025 management result expected at SEK 365 million based on current portfolio and announced acquisitions.

• Focus remains on profitable growth, financial stability, and continued expansion in southern Sweden.