Real estate company Corem Property has reported a lower operating profit for the fourth quarter compared to the same period last year. The board proposes an unchanged ordinary dividend.
Rental income amounted to 823 million kronor (915), a decrease of 10.1 percent compared to the previous year. Net leasing was 27 million kronor in the fourth quarter.
Net operating income totaled 502 million kronor (554), down 9.4 percent year-on-year.
Operating profit amounted to 168 million kronor (178), a decrease of 5.6 percent from the previous year.
Total changes in the value of the property portfolio amounted to -2,650 million kronor (-1,244). Total changes in derivatives were 62 million kronor (293).
Profit before tax was -2,593 million kronor (-922). Profit after tax was -2,296 million kronor (-790). Earnings per share were -1.74 kronor (-0.78). Goodwill impairment amounted to -212 million kronor (-142).
The board proposes an ordinary dividend of 0.10 kronor per share (0.10) for A and B shares. D shares and preference shares will receive 20 kronor per share.
Net asset value per share stood at 10.70 kronor (15.97).
"In summary, we leave 2025 as a more focused and financially robust company than at the start of the year. Through significant strategic decisions, targeted capital measures, streamlining of the portfolio, and a continued strong core business, we enter the new year with increased flexibility. We look forward to 2026 as the year when the economic cycle clearly turns upwards," says Corem CEO Rutger Arnhult in a comment.
Corem Property Group AB is a Sweden-based company engaged in the acquisition, management, development and renewal of industrial, storage, logistical and commercial real estate in Sweden and Denmark. The Company’s property portfolio comprises properties primarily located in the south of Sweden, in regions such as Rosersberg and Arninge in Stockholm, Oresund, Vast, Smaland and Malardalen/Norr, as well as in Copenhagen, Denmark. The Company operates Corem AB as a wholy owned subsidiary.
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