Q2 2025 Interim Report Cibus Nordic Real Estate AB (publ)
April - June 2025 (compared with April - June 2024)
- Rental income amounted to EUR 41.3 million (30.5).
- Net operating income totalled EUR 39.1 million (30.5).
- Profit from property management was EUR 19.5 million (10.3). Profit from property management, excluding non-recurring items and exchange rate effects, amounted to EUR 20.0 million.
- Earnings after tax amounted to EUR 13.7 million (2.2), corresponding to EUR 0.17 (0.03) per share.
- Unrealised changes in value affected by EUR 2.7 million (-8.4) on properties and by EUR -6.7 million (-0.3) on interest rate derivatives.
January - June 2025 (compared with January - June 2024)
- Rental income amounted to EUR 80.4 million (61.0).
- Net operating income totalled EUR 75.7 million (58.6).
- Profit from property management was EUR 57.5 million (22.6). Profit from property management includes a non-recurring income item of EUR 20.5 million regarding negative goodwill in connection with the acquisition of Forum Estates, as well as non-recurring costs and currency effects of EUR -1.3 million. Profit from property management, excluding non-recurring items and exchange rate effects, amounted to EUR 38.3 million.
- Earnings after tax amounted to EUR 44.7 million (-1.8), corresponding to EUR 0.58 (-0.05) per share.
- Unrealised changes in value affected by EUR -4.6 million (-30.7) on properties and by EUR -8.0 million (3.6) on interest rate derivatives.
- EPRA NRV amounted to EUR 1,054.4 million (675.9) corresponding to EUR 12.8 (11.8) per share.
"An active quarter with steadily increasing earnings, a focus on increasing and fine-tuning the portfolio, reduced financing costs and a new share issue to be able to act on business opportunities."
- Christian Fredrixon, CEO
|
Key figure¹ |
Q2 |
Q2 |
Jan-jun |
Jan-jun |
|
Rental income |
41.3 |
30.5 |
80.4 |
61.0 |
|
Net operating income |
39.1 |
30.5 |
75.7 |
58.6 |
|
Profit from property management |
19.5 |
10.3 |
57.5 |
22.6 |
|
Unrealised changes in property values |
2.7 |
-8.4 |
-4.6 |
-30.7 |
|
Earnings after tax |
13.7 |
2.2 |
44.7 |
-1.8 |
|
Market value of investment properties |
2,427 |
1,768 |
2,427 |
1,768 |
|
EPRA NRV/share, EUR |
12.8 |
11.8 |
12.8 |
11.8 |
|
Number of properties with solar panels |
73 |
48 |
73 |
48 |
|
Net operating income, current earnings capacity |
156.3 |
114.7 |
156.3 |
114.7 |
|
Net debt LTV ratio, % |
55.0 |
58.9 |
55.0 |
58.9 |
|
Debt ratio (Net debt/EBITDA), multiple |
11.1 |
9.8 |
11.1 |
9.8 |
|
Run rate debt ratio (Net debt/EBITDA), multiple |
9.4 |
9.8 |
9.4 |
9.8 |
|
Interest coverage ratio, multiple |
2.3 |
2.2 |
2.3 |
2.2 |
1Refer to the full report for alternative performance measures and definitions.
17 July 2025
For further information, please contact
Christian Fredrixon, CEO
[email protected]
+46 (0)8 12 439 100
Pia-Lena Olofsson, CFO
[email protected]
+46 (0)8 12 439 100
Link to the report archive:
https://www.cibusnordic.com/investors/financial-reports/
About Cibus Nordic Real Estate
Cibus is a real estate company listed on Nasdaq Stockholm Mid Cap. The company's business idea is to acquire, develop and manage high-quality properties in Europe with grocery retail chains as anchor tenants. The company currently owns approximately 640 properties in Europe. The largest tenants are Kesko, Tokmanni, Coop Sweden, S Group, Rema 1000, Lidl and Dagrofa.
This information is information that Cibus Nordic Real Estate AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on 17 July 2025.
Om Cibus
Cibus affärsidé är att förvärva, utveckla och förvalta fastigheter av hög kvalitet i Europa med dagligvaruhandelskedjor som ankarhyresgäster.
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