Offentliga Hus i Norden (OFFENTLIGAHUS) Q2 2025 earnings summary

Executive summary

• Revenue for January–June 2025 increased by 7% year-over-year to 180.1 MSEK, with net operating income up 5% to 116.9 MSEK, driven by rental growth and controlled costs.

• Net profit for the period surged to 286.0 MSEK from 17.0 MSEK year-over-year.

• The property portfolio value decreased by 22% to 3,722 MSEK due to significant property divestments.

Financial highlights

• Operating margin (driftnetto/fastighetsvärde) was 5.4% on a rolling 12-month basis.

• Equity at period end was 3,180.5 MSEK, with a strong equity ratio of 78.7%.

• Cash flow from operations was -3.6 MSEK, down from 60.4 MSEK year-over-year.

• Loan-to-value ratio improved to 15.4% from 30.1% a year earlier.

• Interest expenses rose to -34.9 MSEK from -12.2 MSEK year-over-year.

Outlook and guidance

• After the quarter, a secured loan of 600 MSEK was renegotiated with a Nordic bank.

• In July, 7 properties valued at 682 MSEK were acquired and 9 properties valued at 1,146 MSEK were sold.