Solnaberg Property (SOLNA) H1 2025 earnings summary

Executive summary

• Market value of the property increased to SEK 1,288 million as of June 30, 2025, up from SEK 1,273 million at year-end 2024.

• Net profit for the period was SEK 26,229 thousand, a significant rise from SEK 13,982 thousand year-over-year, mainly due to higher property valuation.

• Earnings per share reached SEK 6.98, compared to SEK 3.72 for the same period last year.

• The property is 98% leased, with only minor basement vacancies, and no unforeseen events occurred during the period.

Financial highlights

• Rental income for the first half of 2025 was SEK 41,139 thousand, up from SEK 40,430 thousand year-over-year, driven by rent indexation.

• Operating surplus was SEK 30,223 thousand, down from SEK 33,203 thousand due to increased planned maintenance.

• Management result (profit before tax, depreciation, and unrealized value changes) was SEK 18,478 thousand, up from SEK 17,721 thousand.

• Cash flow from operating activities was SEK 18,478 thousand, compared to SEK 17,721 thousand year-over-year.

• Interest expenses decreased by SEK 3,840 thousand to SEK 9,951 thousand.

Outlook and guidance

• The business is developing as planned, with predictable revenues and costs due to the nature of operations.