Real Fastigheter (REAL) Q4 2024 earnings summary

Executive summary

• Revenue increased by 4% year-over-year to SEK 165.9 million, with operating profit stable at SEK 70.7 million.

• Net profit after tax rose to SEK 53.7 million from SEK 14.2 million, driven by property value gains and operational efficiency.

• Property portfolio value grew to SEK 1,397.6 million, supported by the completion of new developments, notably in Nättraby.

• The company maintained strong demand for its logistics, warehouse, and industrial properties, with high occupancy rates.

• Average loan interest rate decreased to 5.9% at year-end, reflecting improved financing conditions.

Financial highlights

• Full-year revenue: SEK 165.9 million (up from SEK 159.7 million year-over-year).

• Operating profit: SEK 70.7 million (down 1% from SEK 71.7 million year-over-year).

• Net profit after tax: SEK 53.7 million (up from SEK 14.2 million year-over-year).

• Property value: SEK 1,397.6 million (up from SEK 1,286.7 million year-over-year).

• Cash flow from operations: SEK 25.8 million (down from SEK 28.7 million year-over-year).

Outlook and guidance

• Management expects continued stable demand in the logistics, warehouse, and manufacturing segments.

• Lower interest rates are anticipated to further improve financing terms in 2025.

• No dividend proposed for 2024; focus remains on reinvestment and portfolio development.