Prisma Properties AB (publ) (PRISMA) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Prisma Properties Q2 2025 report presentation. For the first part of the presentation, participants will be in listen only mode. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to CEO Frederick Masing and CFO Martin Lindquist. Please go ahead. Hi everyone and thank you for joining today's presentation of our Q2. We are pleased to report another good quarter for Prisma. We've continued to deliver on our strategy and strengthen our position in the Nordic market. Let me walk you through some of the key highlights. We closed the quarter by completing our first acquisition in Finland, finalized the 1st of July. This is a key step in our Nordic expansion, and we see great potential to grow further in Finland by acquiring modern properties with long leases on attractive yields. Net letting for the quarter came in at 15 million, which brings us to 32 million year to date, a clear sign to continue demand and tenant activity. We also signed several new long lease agreements, further strengthening our presence in both in Sweden and Denmark. Rental income grew by 19% year over year, driven by acquisitions, completed projects and CPI adjusted leases. Net operating income landed at 100 million, up from 86 million last year, an increase of 17%. Adjusted profit from property management came in at 48 million. This was not a miss in higher financials. This included a one-off cost of 6 million related to the restructuring of an old 220 million loan, where we successfully reduced the interest margin by two thirds. from 3.5 to 135. Our valuation yield remained stable compared to Q1, indicating continued stability in the market. We also divested one property in...