Fastighetsbolaget Emilshus Ab Class B · OMXSTO:EMIL_B
Fastighetsbolaget Emilshus Ab Class B — Q4 2025 Earnings Presentation
33 slides from Fastighetsbolaget Emilshus Ab Class B's earnings presentation, Feb 6, 2026
Slide 1: Year-end report January-December 2025
Q4 Year-end report January-December 2025
Slide 2: January–December 2025, October–December 2025 and dividend proposal
January–December 2025 October–December 2025 Proposal regarding dividend for 2025 • Income increased 33% to MSEK 896 (674). • Income increased 40% to MSEK 253 (181). • The Board proposes that no dividend on ordinary shares • Profit from property management increased 39% to MSEK 414 • Profit from prop
Slide 3: Significant events during the quarter
Significant events during the quarter • In October, Emilshus announced that it had acquired five prop- erties in Norrköping, in the light industry category, for MSEK 240. The properties were accessed in November. Förgasaren 1, Landskrona • In December, 14 properties in the light industry category we
Slide 4: A year of profitable growth
CEO’s statement A year of profitable growth In 2025, Emilshus strengthened its market position through staff, which strengthens the conditions for continued growth in Strengthened financial position strategic property acquisitions, expanding its organization, the expansive Öresund region. Several im
Slide 5: Emilshus in brief
Emilshus in brief Financial targets A property company with strong cash flows Profit from property management per ordinary share Outcome of financial targets Outcomes Five-year Profit from property management per ordinary share is to 2025 average Based on the corporate culture of Småland, increase a
Slide 6: Income, expenses and earnings
Income, expenses and earnings Income MSEK MSEK January–December 2025 250 1000 200 800 Comparison figures in parentheses refer to the corresponding Net financial items 150 600 period in the preceding year. Net financial items totaled MSEK –256 (–211). The average lend- ing rate, including fixed-incom
Slide 7: Fourth quarter 2025 earnings
Tax Fourth quarter 2025 Profit from property management Current tax expense totaled MSEK 43 (34) and deferred tax Income increased 40% to MSEK 253 (181). Net operating income MSEK MSEK expense totaled MSEK 88 (65). The deferred tax expense pertains amounted to 196 MSEK (145), corresponding to a surp
Slide 8: Forecast and current earnings capacity
Forecast and current earnings capacity Forecast for 2026 are based on the current organization, and net financial items and derivative portfolios as well as cash and cash equivalents at For 2026, it is estimated that profit from property management reflect the interest-rate conditions as well as the
Slide 9: Our properties
Our properties No. of properties Economic occupancy rate Rental value/sqm Property value/sqm 233 95% SEK 910 SEK 10,363 14% Linköping 16% Property portfolio Geographic orientation Jönköping 9% At December 31, Emilshus owned 233 properties (172) with a total Emilshus’s strategy involves a focus on hi
Slide 10: Summary of property portfolio at January 1, 2026
Summary of property portfolio at January 1, 20261 Carrying amount Rental value Contractual No. of Leasable area, Economic occu- annual rent, Region properties ksqm MSEK Share, % SEK/sqm MSEK SEK/sqm pancy rate, % MSEK Halmstad 27 112 1,290 10 11,485 122 1,083 95 115 Helsingborg 18 65 780 6 11,968 67
Slide 11: Property transactions
Property transactions Accessed and vacated properties, Jan–Dec 2025 Leasable Leasable Property transactions completed Management Property area, Management Property area, Property region category ksqm Property region category ksqm Acquisitions of a total of 78 properties were announced during Accesse
Slide 12: Projects
Projects Projects in the form of reconstruction and extensions, modifi- In Kalmar, the Krokodilen 4 property is being reconstructed and New lease and modification of cation of existing premises and new production are one way of extended for the Toyota dealer Bil och Motor i Sydost AB, which at meeti
Slide 13: Market value of the property portfolio
Market value of the property portfolio Input data for property valuation Dec 31 Emilshus’s consolidated financial statements have been prepared requirement, anticipated changes in net financial items of MSEK Weighted average 2025 2024 in accordance with the IFRS Accounting Standards. Emilshus has 75
Slide 14: Our tenants
Our tenants Emilshus’s tenants mostly comprise large, stable companies with long-term operations that are deemed to be Light industry highly solvent. With its local orientation, Emilshus is a reliable player and partner in supplying premises The tenants in the largest property category, light indust
Slide 15: Net letting
Net letting Net letting Lease maturity structure Net letting for the period totaled MSEK 2 (2). Emilshus signed Jan–Dec 83 leases with an increased annual rental value of MSEK 41 (27), MSEK 2025 2024 Contractual of which MSEK 33 (26) pertains to leases with new tenants and Year of No. of annual rent
Slide 16: Sustainability activities
Sustainability activities Reduced energy consumption Emilshus has set high sustainability requirements for its operations. Sustainability activities are based and better indoor climate on the sustainability strategy adopted by the Board of Directors, which is based on the need for wise and responsib
Slide 17: Financing
Financing Capital structure Average Average Interest-coverage ratio Loan-to-value ratio lending rate interest maturity 2025 Emilshus’s capital structure at the end of the period was 40% (42) equity, 54% (52) interest-bearing liabilities and 6% (6) other items. Emilshus collaborates with five Nordic
Slide 18: Debt and interest maturity
Debt and interest maturity Debt and interest maturity The debt maturity period for Emilshus’s interest-bearing liabilities Debt maturity Interest maturity was 2.8 years (2.7) at the end of the period. Of the MSEK 559 Average lend- interest-bearing liabilities that fall due in 2026, MSEK 127 com- Ban
Slide 19: The share and shareholders
The share and shareholders Liquidity guarantee In February 2023, Emilshus signed an agreement with Carnegie Investment Bank AB to act as liquidity guarantor for the Emilshus Series B ordinary share in order to promote the liquidity of the Shares Warrants share. This commitment means that the liquidi
Slide 20: Quarterly overview
Quarterly overview 2025 2024 2023 Income statement, MSEK Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Income 253 228 213 202 181 173 162 158 147 Property costs –57 –40 –42 –44 –36 –30 –30 –36 –32 Net operating income 196 188 171 159 145 143 132 122 114 Central administration –14 –9 –10 –10 –9 –8 –9 –8 –10 Net financi
Slide 21: Key figures per quarter
Key figures per quarter 2025 2024 2023 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Property-related No. of properties 233 226 195 183 172 160 157 139 130 Leasable area, ksqm 1,188 1,155 1,040 1,010 926 898 888 820 805 Fair value of properties, MSEK 12,307 11,852 10,512 10,066 8,940 8,464 8,292 7,518 7,324 Fair value
Slide 22: Key figures per quarter
Key figures per quarter 2025 2024 2023 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Financial Equity/assets ratio, % 40 41 43 40 42 43 40 42 42 Return on equity, % 12 14 7 13 13 1 10 8 –6 Loan-to-value ratio, % 53 53 48 55 52 51 50 52 52 Loan-to-value ratio, properties, % 47 46 41 48 47 46 40 44 44 Average lending ra
Slide 23: Consolidated statement of comprehensive income and financial position
Consolidated statement of comprehensive income Consolidated statement of financial position Jan–Dec Oct–Dec Dec 31 MSEK 2025 2024 2025 2024 MSEK 2025 2024 Rental income 896 674 253 181 ASSETS Income 896 674 253 181 Non-current assets Property costs –184 –132 –57 –36 Investment properties 12,307 8,94
Slide 24: Changes in equity and cash flows
Condensed consolidated Consolidated statement of cash flows statement of changes in equity Jan–Dec Oct–Dec MSEK 2025 2024 2025 2024 Retained Operating activities Other earnings Profit from property management 414 297 110 85 No. of No. of contrib- including net ordinary preference Share uted profit f
Slide 25: Parent Company income statement and balance sheet
Parent Company income statement Parent Company balance sheet Jan–Dec Oct–Dec Dec 31 MSEK 2025 2024 2025 2024 MSEK 2025 2024 Income ASSETS Net sales 32 23 9 6 Non-current assets Other non-current assets 2 1 Operating expenses Derivatives — 1 Other external costs –81 –64 –26 –19 Participations in Grou
Slide 26: Key figures
Key figures Jan–Dec Jan–Dec 2025 2024 2023 2022 2021 2025 2024 2023 2022 2021 Property-related Financial No. of properties 233 172 130 125 97 Equity/assets ratio, % 40 42 42 40 37 Leasable area, ksqm 1,188 926 805 786 581 Return on equity, % 12 8 1 13 34 Fair value of properties, MSEK 12,307 8,940 7
Slide 27: Other information
Other information Personnel accounts, as well as other information submitted. Actual out- Investment properties are measured at fair value in accordance At the end of the period, the number of employees was 33 (24). comes may differ from these assessments. Accounting is particu- with Level 3 of the
Slide 28: Signing of the year-end report
Signing of the year-end report The Board of Directors and the CEO give their assurance that this year-end report provides a fair review of the company’s and the Group’s operations, financial position and earnings, and describes the material risks and uncertainties facing the company and the companie
Slide 29: Property portfolio at January 1, 2026
Property portfolio at January 1, 2026 No. of Leasable Carrying amount Rental value Economic Contractual prop- area, SEK/ SEK/ occupancy annual rent, erties ksqm MSEK Share sqm MSEK sqm rate, % MSEK No. of Leasable Carrying amount Rental value Economic Contractual Malmö prop- area, SEK/ SEK/ occupanc
Slide 30: Definitions
Definitions Return on equity Net profit for the period, restated to 12 months, in relation to aver- NAV Recognized equity after taking into account preference share cap- age equity (OB+CB)/2 for the period. ital and non-controlling interests, with reversal of derivatives and deferred tax. Return on
Slide 31: Reconciliation of key figures
Reconciliation of key figures Jan–Dec Jan–Dec MSEK 2025 2024 2023 2022 2021 MSEK 2025 2024 2023 2022 2021 Return on equity Equity per preference share Net profit for the period, MSEK 524 288 33 311 469 Preference shareholders’ preferential rights upon 960 660 660 660 446 Addition for remeasurement t
Slide 32: NAV per ordinary share
Jan–Dec Jan–Dec MSEK 2025 2024 2023 2022 2021 MSEK 2025 2024 2023 2022 2021 NAV per ordinary share Debt ratio Equity, MSEK 5,114 3,856 3,194 3,007 1,848 Interest-bearing net debt, MSEK 6,553 4,617 3,772 3,879 2,747 Equity pertaining to preference shares, MSEK –960 –660 –660 –660 –446 Net operating i
Slide 33: About Emilshus
Calendar Interim Report January–March 2026 April 21, 2026 Annual General Meeting 2026 April 21, 2026 Interim Report January–June 2026 July 10, 2026 Interim report January–September 2026 October 15, 2026 Year-end report January–December 2026 February 5, 2027 This information is information that Emils
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