Preservium Property (PRESRV) Q1 2025 earnings summary

Executive summary

• Rental income including service charges totaled SEK 19,192 thousand for Q1 2025, up slightly from SEK 19,062 thousand year-over-year.

• Net operating income was SEK 16,220 thousand, marginally down from SEK 16,318 thousand year-over-year.

• Net profit for the period was SEK 8,528 thousand, compared to SEK 9,929 thousand in Q1 2024.

• Operations proceeded as planned with a fully leased property portfolio and continued focus on energy efficiency.

• No significant events occurred during the period; after the period, new board members and chairman were elected.

Financial highlights

• Earnings per share were SEK 1.84, down from SEK 2.14 year-over-year.

• Net asset value (NRV) per share increased to SEK 72.24 from SEK 60.90 year-over-year.

• Net loan-to-value ratio improved to 71.80% from 75.92% year-over-year.

• Cash and cash equivalents rose to SEK 111,646 thousand from SEK 96,087 thousand at year-end.

• No dividend was declared for the period.

Outlook and guidance

• The company continues to focus on energy efficiency, targeting a 5% reduction in energy use for the portfolio.

• Management is preparing for refinancing of the bond maturing in October 2026, aiming to optimize capital structure for future interest rate environments.

• The property portfolio is now fully compliant with the EU Taxonomy for climate change mitigation.