Krona Public Real Estate (KRONA) Q2 2025 earnings summary

Executive summary

• Rental income for Jan–Jun 2025 was 39,368 tkr, up from 35,474 tkr year-over-year, driven by property acquisitions and indexed lease agreements.

• Net operating income for the half-year reached 36,140 tkr, compared to 33,255 tkr in the prior year.

• Net profit for Jan–Jun 2025 was 19,876 tkr, up from 17,609 tkr year-over-year.

• The company maintained a stable financial position with a high proportion of fixed-rate loans.

• A rights issue was initiated to improve liquidity and support property acquisitions and refinancing.

Financial highlights

• Q2 2025 rental income: 19,623 tkr (Q2 2024: 17,750 tkr); net operating income: 18,201 tkr (16,920 tkr); net profit: 9,409 tkr (8,131 tkr).

• Half-year rental income: 39,368 tkr (35,474 tkr); net operating income: 36,140 tkr (33,255 tkr); net profit: 19,876 tkr (17,609 tkr).

• Market value of properties as of June 30, 2025: 1,228,490 tkr.

• No dividend was paid for the period to strengthen the balance sheet ahead of refinancing.

Outlook and guidance

• The company continues to operate as planned with a fully leased property portfolio.

• Focus remains on strengthening the balance sheet and preparing for refinancing of the NOK 884 million bond maturing in March 2026.