RomReal (ROM) Q2 2025 earnings summary

Executive summary

• Net Asset Value (NAV) per share increased 2.2% from Q1 2025, reaching EUR 0.37, driven by property sales and infrastructure investments, with a strong cash position and continued focus on the Romanian real estate market.

• Net result for Q2 2025 was a gain of EUR 586,000, reversing a loss of EUR 169,000 in Q2 2024, reflecting improved operational performance and successful asset disposals.

• Cash position at quarter-end was EUR 4.0 million, with an additional EUR 1.0 million in short-term deposits and EUR 1.2 million in unsettled receivables.

• Six apartments sold at Oasis project by end of July 2025; first plot at Industrial Park sold above IFRS valuation.

Financial highlights

• Operating revenue rose to EUR 913,000 in Q2 2025 from EUR 193,000 in Q2 2024, mainly from asset sales and rental income.

• Operating expenses decreased to EUR 253,000 from EUR 345,000 year-over-year, with administrative and payroll costs as main components.

• Pre-tax result was EUR 654,000, up from EUR 149,000 in Q2 2024.

• Total assets at quarter-end were EUR 15.4 million, with equity at EUR 14.7 million (95.6% equity ratio).

• Net cash flow from operating activities was EUR 713,000, up from EUR 99,000 in Q2 2024, mainly due to plot sales.

Outlook and guidance

• No key rate cuts expected in 2025; inflation and fiscal tightening remain key concerns, with a focus on cost control and modest risk.

• Parliamentary stability and further fiscal tightening in Romania to be monitored, with hopes for improved consumer confidence and gradual reduction in inflation and key rates.