Fleming Properties (FLMNG) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 increased to €3.9M from €3.8M year-over-year, reflecting stable occupancy and management efficiency.

• Net profit for H1 2025 was €0.9M, a significant improvement from a loss of €2.1M in H1 2024, mainly due to the absence of unrealized property value changes.

• The company’s property portfolio remains stable, with a 96% occupancy rate and long-term leases, primarily with SOK.

Financial highlights

• H1 2025 operating income (driftnetto) was €3.1M, up from €3.0M year-over-year.

• Management result (förvaltningsresultat) for H1 2025 declined to €1.2M from €2.0M, mainly due to higher interest expenses.

• Q2 2025 net profit was €0.84M, compared to a loss of €2.83M in Q2 2024.

• Property market value at June 30, 2025: €108.7M, slightly down from €110.6M year-over-year.

• Cash and cash equivalents at period end: €9.8M.

Outlook and guidance

• The company is financially stronger with improved equity ratio and lower leverage, positioning it well to face market challenges.

• No significant events have occurred after the reporting period.