Acrinova (ACRI) Q1 2025 earnings summary

Executive summary

• Q1 2025 marked by the completed sale of Euron 1 in Trelleborg and the start of a new logistics project in Landskrona, setting the stage for Acrinova's largest transaction to date: the planned divestment of 66% of its property portfolio to Emilshus AB, expected to close by September 2025.

• Focus remains on sustainable property development, with ongoing and planned projects in logistics, industrial, and residential segments across southern Sweden.

Financial highlights

• Rental income for Q1 2025 was SEK 40.4m (38.6m), up 4.7% year-over-year; operating surplus reached SEK 27.3m (26.3m).

• Net income after tax surged to SEK 23.1m (2.0m), mainly due to the Euron 1 sale and efficiency measures.

• Management result improved to SEK 13.9m (11.7m), a 19.2% increase year-over-year.

• Property value at period end was SEK 1,947m (1,855m); equity ratio 46.0% (46.3%).

• Cash flow from operations was SEK 14.0m (12.5m); cash and equivalents at SEK 101.5m (68.8m).

Outlook and guidance

• The major divestment to Emilshus AB will provide significant capital for a more focused project development strategy, with a leaner cost base and increased emphasis on value-creating projects post-September 2025.

• Two dividend proposals: SEK 0.40 per share if the Emilshus deal is not approved, or SEK 1.40 per share (in two installments) if the transaction is completed.