Copenhagen Capital (CPHCAP) H1 2025 earnings summary

Executive summary

• Focused on optimizing capital structure, property portfolio, and acquiring new assets, with stable operations and low vacancy rates.

• Acquired majority stake in NTR Holding A/S, now holding 89.76% of share capital and 92.68% of voting rights.

• No property acquisitions or sales in H1 2025, but binding agreements for new acquisitions post-period.

• Ongoing investments in energy optimization and property development projects.

Financial highlights

• Revenue for H1 2025: DKK 26.4m, up from DKK 24.6m in H1 2024.

• EBIT for H1 2025: DKK 17.4m, up from DKK 16.2m in H1 2024; EBIT margin stable at 66%.

• Net income for H1 2025: DKK 13.3m, down from DKK 15.3m in H1 2024.

• Investment properties valued at DKK 1,085.8m as of June 30, 2025.

• Equity at period end: DKK 472.0m, up from DKK 456.5m a year earlier.

Outlook and guidance

• Upgraded full-year 2025 EBVAT guidance to DKK 17–19m (previously DKK 16–18m).

• Continued focus on property acquisitions in Greater Copenhagen, prioritizing rental security and development potential.

• Market conditions require caution, but strong financial position allows for strategic flexibility.