Jeudan (JDAN) Q4 2025 earnings summary

Executive summary

• Achieved EBIT of DKK 1,063m on revenue of DKK 1,751m, in line with guidance for 2025.

• Net profit reached DKK 1,000m, a significant increase from DKK 113m in 2024.

• Portfolio expanded by six properties, with a total value of DKK 36.8bn and 980,000 m².

• Net letting increased by 70% year-over-year to DKK 32m.

• Dividend of DKK 3 per share proposed, representing 29% of EBVAT.

Financial highlights

• Revenue grew 2.5% year-over-year to DKK 1,751m.

• EBIT decreased slightly to DKK 1,063m from DKK 1,080m in 2024.

• Net financial expenses improved to DKK -484m from DKK -493m.

• EBVAT was DKK 579m, with EBVAT per share at DKK 10.5.

• Positive property revaluations of DKK 343m and financial liability revaluations of DKK 372m.

• Net cash from operations was DKK 645m; total cash flow DKK 61m.

Outlook and guidance

• 2026 revenue expected to grow 4–7% (2025: DKK 1,751m).

• EBIT guidance for 2026 is DKK 1,100–1,200m, up to 13% growth.

• Continued focus on stable, long-term property investments in Copenhagen and Frederiksberg.