Holmström Fastigheter (HOLMSTRÖM) Q2 2025 earnings summary

Executive summary

• Rental income increased to SEK 26m for Jan–Jun 2025, up from SEK 24m year-over-year, with Q2 rental income at SEK 14m versus SEK 12m last year.

• Net operating income rose to SEK 14m for the half-year and SEK 9m for Q2, both up from prior year periods.

• Profit/loss before tax was SEK -91m for Jan–Jun 2025 (vs. SEK -41m) and SEK -69m for Q2 (vs. SEK -22m), mainly due to negative results from associated companies and securities.

• No changes in investment property values as valuations are annual.

Financial highlights

• Rental income: SEK 26m for Jan–Jun 2025 (SEK 24m prior year); SEK 14m for Q2 (SEK 12m prior year).

• Net operating income: SEK 14m for Jan–Jun 2025 (SEK 13m); SEK 9m for Q2 (SEK 6m).

• Profit/loss from associated companies and JVs: SEK -22m for Jan–Jun 2025 (SEK -17m); SEK -16m for Q2 (SEK -11m).

• Profit/loss before tax: SEK -91m for Jan–Jun 2025 (SEK -41m); SEK -69m for Q2 (SEK -22m).

• Operating profit for Q2: SEK -53m (SEK -6m prior year).

Outlook and guidance

• Written procedure on senior secured bond approved after Q2, removing mandatory amortization in Oct 2025, switching to PIK interest, adjusting minimum liquidity, and adding a mandatory cash sweep.