Real Fastigheter (REAL) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 increased to 170.3 Mkr from 165.9 Mkr year-over-year, while net profit after tax fell to 10.6 Mkr from 53.7 Mkr.

• The year was marked by high financing costs and extraordinary expenses of 14.8 Mkr related to rental losses and repairs, impacting operating results.

• EHF Invest AB became the majority owner with a 52.4% stake following a public offer; a new CEO was appointed in September 2025.

Financial highlights

• Operating income (driftnetto) for the year was 85.2 Mkr, down from 95.6 Mkr year-over-year.

• Adjusted management result (excluding extraordinary costs) rose 9% to 31.1 Mkr.

• Earnings per share for 2025 were 0.36 kr, down from 1.81 kr in 2024.

• Property portfolio value at year-end was 1,361.0 Mkr, down from 1,397.6 Mkr.

Outlook and guidance

• Entering 2026 with a strengthened balance sheet and positive outlook, focus remains on active management and selective acquisitions or divestments.

• No dividend proposed for 2025.