Business
NPRO: 4Q and full year 2025 - Strengthened balance sheet, a solid refurbishment and redevelopment project pipeline, as well as a strong housing market in Stavanger
NPRO: 4Q and full year 2025 - Strengthened balance sheet, a solid refurbishment and redevelopment project pipeline, as well as a strong housing market in Stavanger
About this update from Fabege Ab
· Contribution in kind of 23 per cent of the shares in Fabege AB transferredduring the quarter · Net LTV reduced from 51 per cent as of Q3 to 38.5 per cent · Net profit for the fourth quarter amounted to NOK 3,720 millioncorresponding to earnings per share (EPS) of NOK 4.93. For the full year 2025,net profit totalled NOK 4,473 million equivalent to NOK 6.48 per share. Theprofit includes a positive impact of NOK 3,195 million from a gain inconnectionwith the takeover of the shares in Fabege AB · The quarter recorded a positive fair value adjustment of investmentproperties of NOK 6 million, and property values have increased by 5.9 percentsince the first quarter of 2024 · Nordr (JV where NPRO owns 42.5 per cent) divests its Swedish operations inthe first quarter of 2026 · Sales have commenced for the residential development project Fabel Forus,aJV with Base Bolig · EPRA NRV amounts to NOK 22.42 per shareHaavard Rønning, Acting CEO, says about the quarter:"2025 has been a year in which the company has entered into several importantlease agreements, initiated and approved several key refurbishment projects,andfurther improved its operational performance. In the fourth quarter, thecompanysignificantly strengthened its equity through the contribution in kind ofFabegeshares. This positions the company well for long-term value creation. It isalsoencouraging to observe the accelerating housing market in Stavanger. We haveexperienced a strong sales start for the residential project Fabel inStavanger.With increased activity at Forus, further supported by Equinor's decision toupgrade and extend the lease on the neighbouring property, we remain positiveregarding the continued development of the project."For further information, please contact:Haavard Rønning, Acting CEO and CFO, mob. +47 400 200 19, e-mail: [email protected] information is subject of the disclosure requirements according to §5-12ofthe Norwegian Securities Trading Act ('Verdipapirhandelloven').Norwegian Property is a focused and fully integrated office property companywith properties located mainly in the Oslo area in Norway. The portfolio ischaracterized by central location and attractive premises with high qualitytenants. The group's properties consist largely of office premises, associatedwarehousing and car parking, as well as retail and catering space. The companyhas identified four value drivers for...