Jeudan (JDAN) Q2 2025 earnings summary

Executive summary

• Revenue reached DKK 881 million in H1 2025, up from DKK 851 million year-over-year, in line with expectations.

• EBIT was DKK 531 million versus DKK 542 million, impacted by higher IT, compliance, and one-off debtor losses.

• Net profit before tax rose sharply to DKK 652 million from DKK 178 million, driven by positive property revaluations and financial adjustments.

• Net letting doubled to DKK 29 million, with a 96.2% occupancy rate in Copenhagen and Frederiksberg.

• Management maintains full-year EBIT guidance of DKK 1,050–1,150 million on revenue of DKK 1.7–1.8 billion.

Financial highlights

• EBIT for H1 2025 was DKK 531 million, down from DKK 542 million year-over-year.

• EBVAT (pre fair value adjustments) was DKK 290 million, compared to DKK 298 million.

• Net profit after tax reached DKK 510 million, up from DKK 139 million.

• Property revaluations contributed DKK 219 million, reversing a DKK 252 million loss last year.

• Financial liabilities saw a positive fair value adjustment of DKK 143 million, up from DKK 133 million.

Outlook and guidance

• Full-year EBIT expected at DKK 1,050–1,150 million, with revenue of DKK 1.7–1.8 billion.

• Continued focus on value creation through customer focus, property improvements, and operational efficiency.

• Market volatility and interest rate changes may impact future fair value adjustments.