The period January-September 2025
- Income increased 31% to MSEK 643 (493).
- Profit from property management increased 43% to MSEK 303 (212).
- Profit from property management per ordinary share increased 29% to SEK 2.19 (1.71) per ordinary share.
- Profit for the period amounted to MSEK 379 (165), corresponding to SEK 2.82 per ordinary share (1.26).
- Changes in value of investment properties impacted earnings by MSEK 205 (52).
- Changes in value of financial instruments impacted earnings by MSEK -42 (-35).
- Operating cash flow increased 48% and totaled MSEK 278 (188).
- Net investments totaled MSEK 2,709, of which MSEK 2,610 pertained to property transactions.
The quarter July-September 2025
- Income increased 32% to MSEK 228 (173).
- Profit from property management increased 48% to MSEK 113 (76).
- Profit from property management per ordinary share increased 34% to SEK 0.78 (0.58) per ordinary share.
- Profit for the period amounted to MSEK 167 (13), corresponding to SEK 1.21 per ordinary share (0.03).
- Changes in value of investment properties impacted earnings by MSEK 76 (4).
- Changes in value of financial instruments impacted earnings by MSEK 20 (-55).
- Operating cash flow increased 51% and totaled MSEK 101 (67).
- Net investments totaled MSEK 1,264, of which MSEK 1,223 pertained to property transactions.
Adjusted forecast for 2025
- For 2025, it is estimated that profit from property management with the current property portfolio and announced acquisitions will total MSEK 410. The previously issued forecast was MSEK 400, which was announced in connection with the publication of the Interim Report for January-June 2025.
Significant events during the quarter
- In August, Peder Karlén took office as Property Manager, with responsibility for the company's property management operations. Peder is part of the company's management team.
- In September, Emilshus accessed the acquisition it announced in April comprising 35 properties in Skåne primarily in the light industry category for MSEK 1,400. 32 properties were accessed as of September 1, 2025, with the remaining three properties to be accessed after completion, which is expected to take place in late 2025 or early 2026.
Significant events after the end of the period
- In October, it was announced that Emilshus had acquired five properties in Norrköping within the light industry category for MSEK 240. Accession is expected to take place in November.
CEO comments - Continued profitable growth
Emilshus performed strongly during the first nine months of the year, with a significant increase in property value from acquisitions and growth in profit from property management per ordinary share well above our target of 15% per year. Income increased 31% compared with the year-earlier period to MSEK 643, and profit from property management rose 43% to MSEK 303. Profit from property management per ordinary share increased 29% for the period and 30% for LTM. Operating cash flow during the period noted growth of 48% to MSEK 278.
Increased property value and establishment in western Skåne
Emilshus is growing in southern Sweden and in our prioritized categories - light industry, industrial services and trade suppliers. During the third quarter, Emilshus accessed the bulk of the strategically important acquisition of 35 properties in western Skåne that was announced in April. With these properties and other business in western Skåne, we are now an operator in the property sector in the expanding Öresund region, with properties valued at just over BSEK 1.3 located in cities such as Helsingborg, Landskrona and Malmö. A property management office has been set up in Malmö with experienced personnel tasked with working locally to ensure good service and continued development of the properties in Emilshus's signature manner.
Local property management
We know our properties and our tenants which, combined with close collaboration and proactive property management, creates opportunities for reconstructions and extensions, routine maintenance work and profitable projects to, for example, enhance energy efficiency. This way, we meet our tenants' needs while creating a platform for strengthening the company's short and long-term earnings.
One of the new leases signed during the period was with Clas Ohlson in Värnamo and had a ten-year term. The occupancy rate was unchanged at 95% for the third quarter.
Emilshus's project portfolio continued to grow during the quarter to a total of MSEK 157, with our largest investment being a modification of premises and extension for our tenant, Bubs/Orkla, in the Torsvik industrial zone south of Jönköping.
Updated forecast and earnings capacity
Our forecast regarding profit from property management for full-year 2025 is being raised from MSEK 400 to MSEK 410. In parallel, our profit from property management per ordinary share according to earnings capacity during the third quarter increased from SEK 2.79 to SEK 3.17, which is a result of our acquisition-driven growth as well as focused efforts to strengthen net operating income in the current portfolio and reduce financing costs.
Looking forward
Emilshus is a growth company built on close and responsible property management in combination with effectively managed financing. We have both the operational and financial prerequisites to continue to generate shareholder value through our strong tenant relationships, new high-yielding property acquisitions, and value-creating investments in existing properties.
Växjö, October 2025
Jakob Fyrberg, CEO
Report presentation
Telephone conference (only in Swedish)
When: Wednesday October 15, 09:00 a.m.
To call in and ask questions call: +46 8 5052 0017, then enter Meeting ID: 898 2738 7502#.
To ask the CEO/CFO a question, please press *9 on the phone.
The presentation is webcasted (only in Swedish)
Link to the webcast:
https://www.finwire.tv/webcast/emilshus/q3-2025/
The webcast will be available at www.emilshus.com following the conference call.
For more information, please contact:
Jakob Fyrberg, CEO
E-mail: jakob.fyrberg@emilshus.com
Telephone: +46 (0)70-593 95 96
This information is information that Emilshus is obligated to disclose in accordance with the EU Market Abuse Regulation. This information was submitted for publication through the agency of the contact persons above on October 15, 2025 at 7:30 a.m. CEST.
About Emilshus
Emilshus is a property company rooted in the business culture of Småland that acquires, develops and manages high-yield commercial properties, with southern Sweden as its core market. The company's property portfolio at September 30, 2025 totaled 1,155 ksqm of leasable area distributed among 226 properties with an emphasis on light industry, industrial services/trade suppliers and big-box and grocery retail. Emilshus's ordinary share and preference share are listed on Nasdaq Stockholm.
Emilshus - Storgatan 10 - 352 31 Växjö - www.emilshus.com
