Investors House (INVEST) Q3 2025 earnings summary

Executive summary

• Q3 2025 net profit was €0.4M, down from €1.0M in Q3 2024, mainly due to the sale of Apitare Oy at the end of June, which removed its profit contribution.

• The company initiated a process to split into three parts: a significant extra dividend, a potential standalone service business, and a real estate business.

• An extraordinary general meeting approved a €3.14/share capital distribution in September 2025.

• For 1-9/2025, net profit was €4.2M (vs. €7.6M in 1-9/2024), with return on equity at 16.6% annualized.

• The company achieved 'dividend aristocrat' status, with its base dividend per share growing for 10 consecutive years.

Financial highlights

• Q3 2025 revenue was €1.44M, down 41% year-over-year; 1-9/2025 revenue was €6.56M, down 8%.

• Q3 2025 net rental income was €0.65M, down 51% year-over-year; 1-9/2025 net rental income was €3.15M, down 7%.

• Q3 2025 net profit was €0.36M, down 65% year-over-year; 1-9/2025 net profit was €4.2M, down 45%.

• Q3 2025 EPS was €0.06 (vs. €0.14 in Q3 2024); 1-9/2025 EPS was €0.62 (vs. €1.15 in 1-9/2024).

• Q3 2025 return on equity (ROE) was 4.8% (annualized); 1-9/2025 ROE was 16.6%.

Outlook and guidance

• Full-year 2025 profit is expected to be significantly weaker than the exceptionally strong 2024 result.

• The company targets an average 10% annual ROE for 2024-27; 2024 ROE was 21.1%.

• Profitability for the rest of 2025 is expected to be substantially lower due to completed asset sales.