Reitir fasteignafélag (REITIR) Q4 2025 earnings summary

Executive summary

• Achieved strong revenue and profit growth in 2025, with 10.8% increase in rental income and 10.4% rise in operating profit year-over-year.

• Real rental income growth was 6.3% compared to the previous year.

• Significant investments in both internal and external growth, with a focus on development projects and portfolio diversification.

Financial highlights

• Rental income reached 18,215 million ISK, up 10.8% from 2024.

• Operating profit before fair value changes was 12,112 million ISK, up 10.4% year-over-year.

• Net profit was 11,062 million ISK, a decrease of 23.8% due to lower fair value gains.

• Cash flow from operations per share increased by 14.3% to 11.2 ISK.

• Investment properties grew by 25.8 billion ISK to 252.2 billion ISK.

Outlook and guidance

• 2026 rental income forecasted at 19,600–19,900 million ISK, a 7.6–9.3% increase year-over-year.

• Operating profit before fair value changes expected at 13,000–13,300 million ISK for 2026.

• Growth in 2026 to be driven mainly by internal development, with Hyatt hotel opening late in the year.