John Mattson (JOMA) Q4 2025 earnings summary

Executive summary

• Exceeded financial targets for 2025, with income from property management per share up 14.6% to SEK 2.95 and NRV per share up 7.4% to SEK 101.71 year-over-year.

• Achieved 4.7% growth in rental revenue to SEK 673.0 million and 5.9% growth in net operating income to SEK 487.0 million.

• Continued execution of the growth plan, including active capital allocation, sustainability progress, and social engagement.

• Board proposed a dividend of SEK 0.25 per share, adopted a new dividend policy, and initiated a SEK 100 million share buyback program.

• Sustainability initiatives advanced, including energy efficiency, reduced emissions, and gender balance across the company.

Financial highlights

• Income from property management per share rose 14.6% year-over-year, surpassing the 10% target.

• Revenue increased by 4.7% and net operating income grew by 5.9% compared to 2024.

• Surplus ratio reached 72.4% for the year.

• Profit for the period was SEK 397.2 million, down from SEK 433.5 million in 2024.

• Investments totaled SEK 261.7 million, with 130 apartments upgraded.

Outlook and guidance

• Company remains well positioned for the future, citing gradual economic recovery and evolving demographic trends.

• Plans to restart infill development projects in 2026, targeting 250 apartments per year.

• Continued focus on value-adding investments, expansion, and maintaining a strong balance sheet.

• Dividend policy set at 30% of annual income from property management after standard tax, subject to investment and liquidity needs.