Aquaticus Real Estate (AQUAT) Q4 2024 earnings summary

Executive summary

• Operations continued according to business plan in 2024, maintaining a solid financial position and stable cash flows.

• The property, fully leased to Xylem Water Solutions, was externally valued at 757,000 tkr (+1.2% YoY).

• All balconies were renovated; preparations for parking garage floor replacement are underway.

Financial highlights

• Full-year revenue was 51,513 tkr (49,133 tkr in 2023); Q4 revenue was 12,582 tkr (12,238 tkr in Q4 2023).

• Full-year operating income (förvaltningsresultat) was 20,094 tkr (27,941 tkr in 2023); Q4 was 2,599 tkr (6,663 tkr).

• Net income for 2024 was 21,053 tkr (–3,976 tkr in 2023); Q4 net income was 9,331 tkr (–20,319 tkr).

• Orealized property value change contributed 8,783 tkr in 2024 (–32,246 tkr in 2023).

• Cash flow from operations before working capital changes was 24,067 tkr (29,884 tkr in 2023); year-end cash was 29,283 tkr (40,987 tkr in 2023).

Outlook and guidance

• Board proposes a 2025 dividend of 12,320 tkr (4.0 kr/share), to be paid in four equal installments.

• Dividend proposal reflects continued uncertainties in financing, interest rates, and inflation.