Investeringsselskabet Luxor (LUXOR) Q2 25/26 earnings summary

Executive summary

• Basis earnings for H1 2025/26 were DKK 24.6m, down DKK 1.0m year-over-year, mainly due to higher admin and financing costs, partially offset by lower property maintenance expenses.

• Pre-tax profit for H1 was DKK 26.4m (DKK 27.1m last year); net profit was DKK 20.6m (DKK 21.1m last year).

• Q2 basis earnings rose to DKK 12.6m (DKK 11.6m), with pre-tax profit stable at DKK 13.1m.

Financial highlights

• H1 revenues were DKK 49.4m (DKK 51.8m), with gross profit at DKK 46.8m (DKK 46.6m).

• Financing costs for H1 were DKK 9.0m (DKK 9.6m).

• EPS for H1 was DKK 20.61 (DKK 21.12).

• Equity at period end was DKK 340.5m (DKK 344.0m).

Outlook and guidance

• Full-year 2025/26 basis earnings are expected at DKK 45.0m, unchanged from the latest guidance.

• Lower expected basis earnings versus 2024/25 reflect anticipated lower gains on property loans, higher financing costs, and reduced property maintenance expenses.

• Value adjustments on swaps and financial assets are excluded from basis earnings and would add DKK 2.1m to pre-tax profit as of May 18, 2026.