Neobo Fastigheter (NEOBO) Q4 2025 earnings summary

Executive summary

• Profit from property management per share increased by 34% year-over-year, reaching SEK 1.40, with total profit from property management at SEK 201 million.

• Achieved record occupancy rates, reaching 93.7% overall and 94.9% for residential properties.

• Divested non-core properties totaling SEK 404 million, improving portfolio efficiency and liquidity.

• Portfolio comprises 8,100 apartments valued at SEK 13.6 billion, with residential properties making up 94% of total value.

• Increased share buybacks to maximize shareholder return, with new programs up to SEK 50 million announced.

Financial highlights

• Rental income rose to SEK 934 million, with like-for-like growth of 5%.

• Net operating income increased by 10% like-for-like to SEK 513 million.

• Positive unrealized property value changes of SEK 16 million (+0.1%).

• Property management and administration costs declined, supporting profitability.

• EPRA NRV per share was SEK 47.19.

Outlook and guidance

• Rent negotiations for 2026 are ongoing, with 46% of residential rental income agreements reached, averaging a 3.4% uplift.

• Board proposes no cash dividend for 2025 and plans to accelerate share buybacks up to SEK 50 million.

• Management sees attractive opportunities ahead and plans to realize further potential.