Nyfosa (NYF) Q4 2024 earnings summary

Executive summary

• Income rose 3% to MSEK 3,670 for 2024, with net operating income up 4% to MSEK 2,541; profit from property management increased 9% to MSEK 1,350.

• Operating cash flow per share grew 5% to SEK 6.67; profit for the year was MSEK 112, reversing a loss of MSEK -639 in 2023.

• Board proposes a dividend of SEK 2.80 per share, in line with policy.

• Strategic acquisitions included full ownership of Norwegian JV Samfosa (Bratsberg) and minority stake in Finnish subsidiary Kielo.

• CEO transition: Carl-Johan Hugner appointed in January 2025.

Financial highlights

• Q4 income up 5% to MSEK 926; net operating income up 4% to MSEK 655.

• Q4 profit from property management per share up 27% year-over-year; operating cash flow per share up 73%.

• Changes in property values: MSEK -936 for the year, MSEK -275 in Q4.

• Interest-coverage ratio improved to 2.2x (from 2.0x); loan-to-value ratio reduced to 50.7% (from 55.2%).

• NAV per share at year-end: SEK 97.00 (up from SEK 94.72).

Outlook and guidance

• 2025 profit from property management forecast at MSEK 1,400, based on current portfolio and announced transactions.

• Company expects stable property management trends and is positioned for opportunities as the transaction market improves.