Ovaro Kiinteistösijoitus (OVARO) Q3 2025 earnings summary

Executive summary

• Q3 2025 result was -0.135 M€, a significant improvement from -2.087 M€ in Q3 2024.

• Net profit for January–September 2025 was 0.908 M€, reversing a -1.332 M€ loss year-over-year.

• Cash reserves at 9.1 M€ as of Q3 2025, up from 1.6 M€ at year-end 2024.

• Q3 result fell short of expectations due to delayed project starts and lower-than-expected sales.

• Guidance for 2025 is reiterated: full-year profit expected to improve over 2024.

Financial highlights

• Revenue for January–September 2025 was 3.201 M€, down from 4.240 M€ year-over-year.

• Net rental income for the period was 1.03 M€, a decrease from 2.3 M€ year-over-year.

• Sale of Apitare Oy shares contributed a positive impact of 1.7 M€ to results.

• Earnings per share for the period was 0.11€, up from -0.16€ year-over-year.

• Return on equity (ROE) for the period was 2.0%.

Outlook and guidance

• Full-year 2025 profit is expected to exceed 2024, supported by improved market conditions and cost control.

• The company is focused on improving results in the final quarter and advancing ongoing development projects.