RomReal (ROM) Q3 2025 earnings summary

Executive summary

• Net Asset Value (NAV) per share increased 0.1% from Q2 2025 to EUR 0.37, with total NAV at EUR 14.76 million, reflecting stable asset values and successful property sales.

• Net result for Q3 2025 was a gain of EUR 27,000, reversing a loss of EUR 216,000 in Q3 2024, driven by property sales and capitalized infrastructure expenses.

• Cash position at quarter-end was EUR 5.6 million, with total liquid assets including unsettled receivables at EUR 6.2 million.

• Six apartments and one house were sold during Q3 2025; two more apartments and one house sold after quarter-end, concluding the Lakeside project.

Financial highlights

• Operating revenue for Q3 2025 was EUR 889,000, up from EUR 68,000 in Q3 2024, mainly from asset disposals and rent.

• Operating expenses increased to EUR 375,000 from EUR 277,000 year-over-year, mainly due to administrative and payroll costs.

• Other operating expenses were EUR 524,000, primarily from the cost of disposed assets.

• Operating loss narrowed to EUR 10,000 from EUR 212,000 in Q3 2024.

• Result before tax was a gain of EUR 45,000, compared to a loss of EUR 136,000 in Q3 2024.

Outlook and guidance

• Board expects gradual reduction in inflation and key rates during 2026-2027, potentially boosting real estate activity.

• Anticipates increased residential market activity as inflation subsides.