Slide 1: Interim report January–June 2025
Q2 Eastnine Interim report January–June 2025 1 Interim report January–June 2025
Slide 2: Acquisitions driving profit from property management
Q2 Eastnine Interim report January–June 2025 2 Acquisitions driving profit from property management Profit from property management rose by 54 per cent during the quarter and 50 per cent for the period, primarily due to property acquisitions. Profit per share from property management also continued
Slide 3: Higher earnings driven by acquisitions in Poland
Q2 Eastnine Interim Report January–June 2025 3 Higher earnings driven by acquisitions in Poland Business is going strong, with a sharp rise in earnings primarily due to property acquisitions in Poland in 2024. Global uncertainty persisted during the second quarter, though without any noticeable impa
Slide 4: Building a leading real estate company in the fastest-growing part of Europe
Q2 Eastnine Interim report January–June 2025 4 Building a leading real estate company in the fastest-growing part of Europe Eastnine is a Swedish real estate company listed on Nasdaq Stockholm, Mid Cap, headquartered in Stockholm. Eastnine invests in prime office spaces in prime locations in Warsaw,
Slide 5: Targets and outcomes
Q2 Eastnine Interim report January–June 2025 5 Targets and outcomes Eastnine’s overarching goal is to create a sustainable and attractive total return on investment for its shareholders. We will achieve this by acquiring more properties, primarily in Poland. Outcome 30 June Financial targets and lim
Slide 6: January–June 2025
Q2 Eastnine Interim report January–June 2025 6 January–June 2025 Rental income and net operating income (NOI) increased during the period and the surplus ratio rose to 93.8 per cent. Profit from property management (PFPM) grew by 50 per cent, totalling EUR 15.7m, largely due to property acquisitions
Slide 7: Condensed statement of profit and loss, EURk
Q2 Eastnine Interim report January–June 2025 7 2025 2024 Condensed statement of profit and loss, EURk Jan–Jun Jan–Jun Rental income 30,763 18,409 Property expenses -1,921 -1,372 Net operating income 28,842 17,037 Central administration expenses -2,380 -2,176 Net interest -10,758 -4,468 Other financi
Slide 8: Financing, LTV ratio and equity/asset ratio, net asset value
Q2 Eastnine Interim report January–June 2025 8 Financing swaps are measured at fair value and any changes in value are recognised in profit or loss, without impacting cash Eastnine’s activities are primarily financed by equity and flow. The fair net value of interest-rate swaps was EUR interest-bear
Slide 9: Current earnings capacity
Q2 Eastnine Interim report January–June 2025 9 Current earnings capacity In order to facilitate the assessment of the Company’s current financial position, Eastnine discloses its current earnings capacity. Earnings capacity is a theoretical assessment used for describing the Company’s current earnin
Slide 10: Market
Q2 Eastnine Interim report January–June 2025 10 Market Eastnine’s markets are characterised by high economic growth, relatively low office rent levels, and attractive yields compared with other European markets. At the same time, financing conditions are comparable, resulting in a strong cash flow a
Slide 11: Property portfolio
Q2 Eastnine Interim report January–June 2025 11 Property portfolio The property value increased by EUR 19.6m during the period, to EUR 955.0m, mainly due to EUR 19.3m in unrealised changes in value during the first quarter pertaining to properties in Poland. During the second quarter, there were vir
Slide 12: Development projects
Q2 Eastnine Interim report January–June 2025 12 Development projects values. Lower yield requirements in Poland and an assumption of higher market rents in Warsaw had a positive Eastnine has three future development projects. The impact on property values. projects, which are in the planning stage,
Slide 13: Lease agreements and annual rents, largest tenants, lettings
Q2 Eastnine Interim report January–June 2025 13 Lease agreements and annual rents figure was EUR 287 (282); in Poznan, EUR 205 (201); in Vilnius, EUR 203 (201); and in Riga, EUR 184 (183). Eastnine In Poland and the Baltics, the majority of leases are fixed- charges rent on a monthly basis for all o
Slide 14: Valuation model and implementation
Q2 Eastnine Interim report January–June 2025 14 Valuation model and implementation For development projects where uncertainty prevails about the total cost and where there are no future lease Properties are appraised on a quarterly basis, with an agreements, the fair value is deemed to correspond to
Slide 15: Sustainability
Q2 Eastnine Interim report January–June 2025 15 Sustainability Eastnine works systematically to enhance its properties, reduce its climate footprint, while offering a high level of service and fostering strong relationships with tenants, employees and suppliers. Sustainability targets Eastnine’s amb
Slide 16: Other disclosures
Q2 Eastnine Interim report January–June 2025 16 Other disclosures General information Supplementary Accounting Rules for Corporate Groups, has been applied. The accounting policies have been applied Eastnine AB (publ), corporate identity number 556693- consistently across all periods presented in th
Slide 17: Assurance from the Board and CEO
Q2 Eastnine Interim report January–June 2025 17 Assurance from the Board and CEO The Board of Directors and the CEO certify that this interim report provides a true and fair view of the Parent Company's and the Group's performance, financial position and profit or loss, and describes the material ri
Slide 18: The share
Q2 Eastnine Interim report January–June 2025 18 The share Eastnine’s share price increased by 6 per cent during the first half of the year, following a decline in the first quarter and a recovery in the second. The total return over the past twelve months was 16 per cent, and the long-term net asset
Slide 19: Number of shares and shareholders
Q2 Eastnine Interim report January–June 2025 19 Number of shares and shareholders Buy-back The Eastnine share is listed in the Real Estate sector of the At the end of the period, the Company had 502,124 Mid Cap of Nasdaq Stockholm. At the end of the period, the treasury shares, corresponding to appr
Slide 20: Financial statements in brief
Q2 Eastnine Interim report January–June 2025 20 Financial statements in brief Did you know that... The quality of life in Vilnius ranks among the best within the European Union. It is highly valued for its clean air, low noise levels, low crime rates, well- maintained public spaces and parks, and vi
Slide 21: Consolidated Statement of Comprehensive Income and Financial Position
21 Eastnine Interim Report January-June 2025 Consolidated Statement of Comprehensive Income 2025 2024 2025 2024 2024/2025 2024 EURk Apr-Jun Apr-Jun Jan-Jun Jan-Jun Jul-Jun Jan-Dec Rental income 15,156 9,345 30,763 18,409 53,876 41,523 Property expenses -970 -667 -1,921 -1,372 -3,518 -2,970 Net opera
Slide 22: Changes in Equity, Cash Flow, Key figures
22 Eastnine Interim Report January-June 2025 Consolidated Statement of Changes in Equity Other Reserve, Share contributed translation Retained Total EURk capital capital differences earnings equity Opening equity 1 January 2024 3,660 238,700 538 157,278 400,176 Net profit/loss for 1 January-30 June
Slide 23: Segment Reporting
23 Eastnine Interim Report January-June 2025 Segment Reporting Eastnine classifies and evaluates the various segments based on geography and the nature of the investments. Segments are presented from the point of view of management and are divided into following: Properties in Warsaw, Poznan, Vilniu
Slide 24: Valuation assumptions and Sensitivity analysis
24 Eastnine Interim Report January-June 2025 Valuation assumptions 2025 2025 2024 2024 2024 2024 2023 2023 Investment properties 30 Jun 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar 31 Dec 30 Sep Weighted yield requirement, % 6.6 6.5 6.6 6.7 6.7 6.5 6.4 6.2 Average market rent, EUR/sq.m./month1 19.0 18.7 18.7
Slide 25: Quarterly overview
25 Eastnine Interim Report January-June 2025 Quarterly overview Income Statement EURk Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Rental income 15,156 15,607 12,412 10,701 9,345 9,064 8,967 9,056 Property expenses -970 -951 -842 -755 -667 -705 -747 -576 Net operating income 14,18
Slide 26: Quarterly key figures
26 Eastnine Interim Report January-June 2025 Quarterly key figures Property-related Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Leasable area, sq.m. thousand 271.6 271.6 271.6 211.6 211.6 182.8 182.8 182.8 Number of properties 16 16 16 15 15 14 14 14 Investment properties, EURk 9
Slide 27: Interpretation of key figures
27 Eastnine Interim Report January-June 2025 Interpretation of key figures Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Rental income 15,156 15,607 12,412 10,701 9,345 9,064 8,967 9,056 Net operating income 14,186 14,656 11,570 9,947 8,678 8,359 8,220 8,481 Surplus ratio, % 93.6 9
Slide 28: Condensed Parent Company Income Statement and balance sheet
28 Eastnine Interim Report January-June 2025 Condensed Parent Company Income Statement 2025 2024 2025 2024 2024/2025 2024 EURk Apr-Jun Apr-Jun Jan-Jun Jan-Jun Jul-Jun Jan-Dec Other income 624 447 1,248 893 2,527 2,172 Central administration expenses -1,179 -940 -2,375 -1,964 -4,532 -4,121 Operating
Slide 29: Definitions
Q2 Eastnine Interim report January–June 2025 29 Definitions Eastnine applies the European Securities and Markets Authority (ESMA) guidelines on alternative performance measures. The Company considers that these measures provide valuable information to investors and the Company’s management as they e
Slide 30: Share-related key figures, Glossary
Q2 Eastnine Interim report January–June 2025 30 Rental income Green lease agreements Debited rents, rent supplements, and rental guarantees less Lease agreements where Eastnine and the tenant has rental discounts. agreed on proactive efforts to promote and improve the sustainability of the property/
Slide 31: Financial calendar, Contact information, About Eastnine
Financial calendar Interim report January-September 2025 23 October 2025 Year-end report 2025 5 February 2026 Dates for payments of shareholder dividend: Dividend record date 26 August 2025 Expected date of payment 29 August 2025 Dividend record date 11 November 2025 Expected date of payment 14 Nove