Fastighetsbolaget Emilshus (EMIL) Q4 2025 earnings summary

Executive summary

• Income rose 33% year-over-year to MSEK 896, driven by property acquisitions and rent adjustments.

• Profit from property management increased 39% to MSEK 414, with per-share growth of 25%.

• Net profit for the year reached MSEK 524, up from MSEK 288, with EPS before dilution at SEK 3.86.

• Operating cash flow grew 41% to MSEK 379, reflecting higher profits and lower tax expenses.

• The property portfolio expanded to 233 properties, totaling 1,188 ksqm and MSEK 12,307 in value.

Financial highlights

• Net operating income increased 32% to MSEK 713, with a surplus ratio of 80%.

• Economic occupancy rate remained stable at 95%.

• Loan-to-value ratio was 53%, and equity/assets ratio was 40%.

• Interest-coverage ratio improved to 2.6x, and average lending rate was 4.1%.

• NAV per ordinary share rose to SEK 36.22.

Outlook and guidance

• Forecast for 2026: profit from property management expected at MSEK 480 with current portfolio and announced acquisitions.

• Continued focus on reinvesting cash flows for growth, with no ordinary share dividend proposed for 2025.