Hufvudstaden (HUFV-A) Q4 2025 earnings summary

Executive summary

• Navigated a year of macroeconomic uncertainty and recovery, with high demand for centrally located, high-quality office space and a partial rebound in retail.

• Rent revenue from property management rose 6% year-over-year to SEK 2,453 million, with total net revenue at SEK 3,292 million.

• Gross profit increased 5% to SEK 1,635 million, driven by improved performance at NK and higher office rents.

• Net result for the year was SEK 837 million, more than doubling from SEK 365 million.

• Share buybacks and sustainability initiatives enhanced long-term value and climate impact reduction.

Financial highlights

• Rental income from property management rose 6% year-over-year to SEK 2,453 million.

• Property management gross profit increased 4% to SEK 1,696 million; group gross profit up 5% to SEK 1,635 million.

• Operating result reached SEK 1,400 million, up from SEK 884 million year-over-year.

• Full-year net profit was SEK 837 million, up from SEK 365 million, with unrealized property value changes at -SEK 174 million.

• Proposed dividend of SEK 2.90 per share, up from SEK 2.80.

Outlook and guidance

• Focus remains on leasing, cost control, and continued transformation at NK for profitable growth.

• Modern, flexible office offerings in central locations remain in high demand, with strong occupancy rates in major development projects.

• Retail sector showed slight growth in the last quarter, with increased optimism for future store openings.

• Long-term approach to reduce climate impact and increase business value.

• The Board proposes a higher dividend for 2025, reflecting confidence in future cash flows.