Investeringsselskabet Luxor (LUXOR) Q3 24/25 earnings summary

Executive summary

• Basis earnings for the first nine months reached DKK 37.1m, up from DKK 33.5m year-over-year, driven by higher financing income and lower financing costs.

• Pre-tax profit for the period was DKK 37.3m, significantly lower than DKK 77.4m last year, mainly due to a one-off DKK 49.5m fair value adjustment from property sale in the prior year.

• Third quarter pre-tax profit was DKK 10.2m, compared to DKK 64.5m in the same quarter last year.

Financial highlights

• Revenue for Q1–Q3 was DKK 77.1m, down from DKK 127.0m year-over-year.

• Net income for Q1–Q3 was DKK 29.1m, compared to DKK 60.3m last year.

• EPS for Q1–Q3 was DKK 29.06, down from DKK 60.28 year-over-year.

• Equity at June 30, 2025, was DKK 351.9m, down from DKK 446.9m a year earlier.

• Financial gearing increased to 1.62 from 1.02 year-over-year.

Outlook and guidance

• Expected basis earnings for FY 2024/25 raised to DKK 47m from previous DKK 44m, reflecting better-than-expected net gains from property loans, a positive housing market, increased financing income, and lower costs.

• Fair value adjustments of swaps and financial assets are expected to have a minor negative impact of DKK -0.2m on pre-tax profit for the year.