Real Fastigheter (REAL) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was 39.4 Mkr, up 1% year-over-year; nine-month revenue reached 128.6 Mkr, up 3.5% year-over-year.

• Q3 net result was -6.9 Mkr, impacted by 13.5 Mkr in one-off costs; nine-month net result was 1.1 Mkr.

• New CEO Andreas Gustafsson appointed in September 2025, following a change in majority ownership to EHF Invest AB.

Financial highlights

• Q3 operating profit (förvaltningsresultat) was -2.0 Mkr; adjusted for one-offs, it was 11.5 Mkr, up 91% year-over-year.

• Nine-month operating profit was 11.0 Mkr; adjusted, it was 25.8 Mkr, up 30% year-over-year.

• Q3 driftnetto was 17.7 Mkr (26.2 Mkr prior year); adjusted, 25.3 Mkr.

• Property portfolio value at period end: 1,360.3 Mkr.

• Equity at period end: 602.8 Mkr; equity per share: 20.30 kr.

Outlook and guidance

• Focus on efficiency, cost control, and strengthening capital base.

• Market activity is increasing, with more property transactions expected.

• Evaluating new acquisitions and possible strategic divestments.