Genova Property Group Year-end Report January-December 2025

About this update from Genova Property Group Ab

Full-year January-December 2025Rental income amounted to SEK 514m (508). Rental income in the comparable portfolio increased SEK 3m, corresponding to 1%. Net operating income totalled SEK 376m (369), up 2%. Income from property management amounted to SEK 131m (140), down 6%. This decrease is attributable primarily to increased other financial expenses of SEK -29m (-20). Income from property management per share amounted to SEK 1.86 (1.55), up 20%. This increase is attributable primarily to lower interest payments on hybrid bonds, which decreased to SEK -46m (-70). Net income for the year totalled SEK 274m (157), up 75% and corresponding to SEK 4.99 (1.92) per share. Long-term net asset value attributable to shareholders increased 9% to SEK 3,568m (3,273), corresponding to SEK 75.95 (72.72) per share. The Board proposes to the AGM that a dividend of SEK 0.92 (0.88) per share be paid for the 2025 financial year, to be paid on a quarterly basis.Fourth quarter October-December 2025Rental income amounted to SEK 128m (125), up 2%. Net operating income amounted to SEK 89m (86), up 3%. Income from property management amounted to SEK 23m (56), down 59%. This decline is attributable primarily to higher positive changes in value of properties in joint ventures and associated companies in the comparative period. Income from property management per share amounted to SEK 0.28 (0.98), down 71%. Net income for the quarter amounted to SEK 130m (148), corresponding to SEK 2.60 (2.98) per share. This decline is attributable primarily to higher positive changes in value of properties in joint ventures and associated companies, as well as in derivatives, in the comparative period. Long-term net asset value attributable to shareholders increased 9% to SEK 3,568m (3,273), corresponding to SEK 75.95 (72.72) per share.Significant events during the quarterDivestment of residential properties in Knivsta for SEK 875m Genova, together with Redito via a joint venture, has agreed to divest the Gredelby 21:1 and Gredelby 21:6 properties in central Knivsta at an underlying property value of SEK 875m before deduction of deferred tax. The sales price exceeded the book values and strengthened Genova's liquidity by approximately SEK 120m. The exit was completed in December, at which point Genova received a dividend of approximately SEK 50m from the joint venture. After the end of the year, G...

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