Fortinova Fastigheter (FNOVA) Q3 2025 earnings summary

Executive summary

• Revenue increased by 6% to 290 MSEK for January–September 2025, driven by index adjustments, rent increases, and property acquisitions.

• Operating surplus rose 7% to 185 MSEK, with a margin of 64%.

• Management result improved 25% to 88 MSEK, with a margin of 30%.

• Net profit for the period was 103 MSEK (2.0 SEK per share), up from 47 MSEK (0.9 SEK per share) year-over-year.

• Strategic expansion included the acquisition of four residential properties in Strömstad, entering a new market.

Financial highlights

• Unrecognized value changes in properties amounted to 67 MSEK (43 MSEK last year).

• Value changes in derivatives were -19 MSEK (-42 MSEK last year).

• Long-term net asset value per share was 51 SEK (up from 48 SEK).

• Economic occupancy rate remained high at 99%.

• Cash flow from operations was 76 MSEK, with 290 MSEK in cash at period end.

Outlook and guidance

• The company expects continued stable cash flows, supported by high occupancy and local market presence.

• Market shows signs of cautious recovery, with increased transaction activity and stabilized interest rates.

• Management maintains focus on profitable growth and long-term value creation.