Wallenstam (WALL) Q4 2025 earnings summary

Executive summary

• Net profit after tax increased to 2,564 MSEK for 2025, up from 774 MSEK year-over-year, with EPS at 4.0 SEK (1.2).

• Net asset value per share rose 8% to 62.10 SEK, progressing toward the long-term target of 80 SEK per share.

• Property management income grew by 11% to 1,277 MSEK.

• Strong financial position with an equity ratio of 44% and loan-to-value ratio of 47%.

• Dividend proposal of 0.55 SEK per share, a 10% increase, split into two payments.

Financial highlights

• Rental income increased by 5% to 3,077 MSEK, with Q4 rental income at 756 MSEK.

• Net operating income rose to 2,334 MSEK, with a surplus ratio of 75.9%.

• Net profit after tax for the year was 2,564 MSEK, with Q4 net profit at 1,325 MSEK.

• Value changes in investment properties contributed 1,699 MSEK for the year and 985 MSEK in Q4.

• Cash flow from operations was 1,228 MSEK, with investments in properties totaling 5,301 MSEK.

Outlook and guidance

• On track toward the long-term target of 80 SEK net asset value per share by 2030.

• Continued focus on project development, energy optimization, and sustainability targets.

• Equity ratio expected to remain at or above 40% as per the long-term plan.