Eastnine AB (publ) (EAST) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and very warm welcome to IS9's third quarter presentation. My name is Kastuti Sasnauskas and with me, Frit-Marie Nyman, Deputy CEO and CFO, and today we will guide you through our third quarter results of 2025. Before I start, I urge you to post your questions during our presentation and we will answer them right after the presentation is done. So let's move into the third quarter. We continue experiencing tailwinds in operations. Our rental revenue is growing 45%. Incomparable portfolio, 3.1%. Profit from property management up 48%. And per share is 35%. All of these figures depend very much on our last acquisition in Poland. This growth is mainly attributed to that. But we're also very, very happy to see strong performance in comparable portfolio as well. We also have positive value changes in our portfolio, though slight. There's no dramatic change, mainly driven by growing market rental levels in the market, which result into positive revaluation of our portfolio. We also refinanced some of our debt and increased our leverage a little bit. This is all in preparation for further future acquisitions. During the quarter, we concluded an extended lease contract with Rockwell, one of our key tenants in Poznan. The contract grew from almost 7,000 square meters to over 9,000 square meters and extend for another seven years. We're also working on establishing operations in Poland. We have country manager in place since August already and four employees starting in December and February. So all in all, business is as planned. If we look over period, continued growth figures are more impressive. Again, rental revenue growing 59% and comparable portfolio at strong 4.4%. Profit from property management up 49% and per share 36%. So again, very, very strong performance. ...