Arlandastad Group (AGROUP) Q1 2025 earnings summary

Executive summary

• Focus on strategic infrastructure nodes with a long-term investment horizon and low leverage.

• Major development projects in Arlandastad and Skavsta totaling nearly 8 million sqm.

• Emphasis on sustainability, energy efficiency, and green lease agreements.

• Scandinavian XPO project completed first phase, fully leased to Nordic Choice Hotels under a 20-year agreement.

• Several new lease agreements signed, including with Mercedes-Benz, Nima Energy, and Preflight.

Financial highlights

• Market value of property portfolio at SEK 6,623m as of March 31, 2025 (SEK 6,638m previous year).

• Revenues for Q1 2025 were SEK 83.3m (SEK 89.1m Q1 2024); rental income SEK 40.9m (SEK 39.4m).

• Operating result before value changes was SEK -39.0m (SEK -39.4m); net result SEK -42.0m (SEK -40.0m).

• Cash and cash equivalents at period end SEK 124.3m (SEK 163.8m); cash flow from operations SEK -58.4m (23.1).

• Loan-to-value ratio 24% (24-25%); equity ratio 59% (59-60%).

Outlook and guidance

• Increased development pace planned for 2025, with focus on self-development, partnerships, and sales.

• Organizational efficiency measures to have full effect from Q3 2025.

• Uncertainty remains due to global trade tensions and potential impact on Nordic markets.

• Focus remains on accelerating property development and maintaining financial flexibility.