Arlandastad Group (AGROUP) Q2 2025 earnings summary

Executive summary

• Revenue for Q2 2025 was SEK 86.3m (82.9), with net income of SEK 58.8m (-29.6), driven by unrealized property value gains of SEK 100.1m (-0.5).

• Six-month revenue was SEK 169.6m (172.0), net income SEK 16.8m (-69.6), with positive unrealized value changes of SEK 93.7m (-9.5).

• Major new lease agreements and project developments in Arlandastad and Skavsta, including a 15-year lease with Nyköping municipality and expanded contracts with Autohero and BMW.

• Cost-saving measures are progressing as planned, expected to yield annual savings of SEK 30m with full effect in H2 2025.

• New financing of SEK 125m secured, partially used to repay an existing SEK 68m bond, improving financial flexibility.

Financial highlights

• Q2 revenue: SEK 86.3m (82.9); H1 revenue: SEK 169.6m (172.0).

• Q2 net income: SEK 58.8m (-29.6); H1 net income: SEK 16.8m (-69.6).

• Q2 operating cash flow: SEK -46.2m (-44.7); H1: SEK -104.6m (-21.6).

• Property portfolio market value: SEK 6,723m (6,638).

• NAV per share: SEK 85.3 (84.7); equity ratio: 59% (60%).

Outlook and guidance

• Focus remains on accelerating property development and maintaining a flexible, cost-conscious organization.

• Full-year cost savings of SEK 30m expected from efficiency measures.

• Continued market and geopolitical uncertainty, but strong asset base and ongoing project pipeline support long-term value creation.