Öresund (ORES) Q4 2024 earnings summary

Executive summary

• Net asset value (NAV) increased by 8.7% year-over-year to SEK 4,750 million, or SEK 104 per share, outperforming the SIX Return Index by 0.1 percentage points for 2024.

• Earnings per share rose to SEK 9.32 from SEK 5.42 year-over-year; proposed dividend of SEK 7.20 per share, split into two payments.

• NAV decreased by 1.6% in Q4 2024, while the SIX Return Index fell by 5.8% in the same period.

Financial highlights

• Full-year result: SEK 423 million (SEK 247 million in 2023); Q4 result: SEK -65 million (SEK 449 million in Q4 2023).

• Value changes in securities: SEK 261 million; dividends received: SEK 181 million for 2024.

• Market value of the securities portfolio at year-end: SEK 4,429 million (SEK 4,248 million in 2023).

• Cash and cash equivalents at year-end: SEK 329 million (SEK 392 million in 2023).

• Solid equity ratio of 99% at year-end.

Outlook and guidance

• Management expects lower interest rates in 2025 to benefit consumer stocks and sees the portfolio well positioned to outperform the index.

• Focus remains on profitable companies with stable cash flows and good liquidity.