January–December 2025

• Income increased 33% to MSEK 896 (674).
• Profit from property management increased 39% to MSEK 414 (297).
• Profit from property management per ordinary share increased 25% to SEK 2.95 (2.36) per ordinary share.
• Profit for the period amounted to MSEK 524 (288), corresponding to SEK 3.86 (2.28) per ordinary share.
• Changes in value of investment properties impacted earnings by MSEK 270 (127).
• Changes in value of financial instruments impacted earnings by MSEK –28 (–37).
• Operating cash flow increased 41% and totaled MSEK 379 (270).
• Net investments totaled MSEK 3,098, of which MSEK 2,953 pertained to property transactions.

October–December 2025

• Income increased 40% to MSEK 253 (181).
• Profit from property management increased 30% to MSEK 110 (85).
• Profit from property management per ordinary share increased 16% to SEK 0.76 (0.65) per ordinary share.
• Profit for the period amounted to MSEK 145 (122), corresponding to SEK 1.03 (0.98) per ordinary share.
• Changes in value of investment properties impacted earnings by MSEK 65 (75).
• Changes in value of financial instruments impacted earnings by MSEK 14 (–3).
• Operating cash flow increased 23% and totaled MSEK 101 (82).
• Net investments totaled MSEK 389, of which MSEK 343 pertained to property transactions.

Proposal regarding dividend for 2025

• The Board proposes that no dividend on ordinary shares be paid for the 2025 financial year. Furthermore, the Board proposes a dividend of SEK 2.00 per preference share, with a quarterly payment of SEK 0.50 per preference share. The dividend proposal is in line with Emilshus’s dividend policy.

Forecast for 2026

• For 2026, it is estimated that profit from property management with the current property portfolio and announced acquisitions will total MSEK 480.

Significant events during the quarter

• In October, Emilshus announced that it had acquired five properties in Norrköping, in the light industry category, for MSEK 240. The properties were accessed in November.
• In December, 14 properties in the light industry category were acquired for MSEK 379. Closing of two properties took place during the fourth quarter, while closing of the remaining 12 properties is expected during the first and second quarters of 2026.

Significant events after the end of the period

• In January, Emilshus announced that it had acquired five properties in Landskrona and Linköping, in the light industry category, for MSEK 336. Four properties were accessed in January 2026 and the remaining property will be accessed in February 2026.

CEO comments – A year of profitable growth
In 2025, Emilshus strengthened its market position through strategic property acquisitions, expanding its organization, actively managing its property portfolio and engaging in targeted financing activities. Overall, this yielded growth in profit from property management and cash flow.

Income increased 33% year-on-year to MSEK 896, and profit from property management rose 39% to MSEK 414. Profit from property management per ordinary share increased 25%, well above our target of 15% per year. Operating cash flow during the year noted growth of 41% to MSEK 379.

Profit from property management per share for the fourth quarter increased 16% compared to the year-earlier period, and operating cash flow rose 23%.

Strategic acquisitions in southern Sweden
For Emilshus, 2025 was a year with continued high levels of transaction activity, with the completion of acquisitions encompassing 78 properties for a total of BSEK 3.2. These investments have expanded our geographical footprint and strengthened our cash flow base. One key step in Emilshus’s development was the portfolio acquisition of 35 properties in the Öresund region, which together with supplementary acquisitions means that Emilshus now has a property value of BSEK 1.4 in Helsingborg, Landskrona, Malmö and Trelleborg. At the same time, we have established a property management office in Malmö with experienced local staff, which strengthens the conditions for continued growth in the expansive Öresund region. Several important acquisitions were also made in Östergötland and Halland during the year, which means that we have established a property management office in Halmstad and – in the near future – in Linköping as well.

Focus on active property management
Emilshus’s business model has a sharp focus on in-house local property management. Our basic idea is simple: Our tenants generate the company’s income, not the properties. That is why we work in close contact with our tenants, with our own local staff. A proof that Emilshus has a dedicated and present property management organization is that we are reporting a positive net leasing of MSEK 2 for 2025. The local property management organization also provides better opportunities for cost optimization measures for the benefit of both tenants and Emilshus as a property owner. One example is that, in 2025, we decreased our energy consumption by 6% in the like-for-like portfolio through a range of investments in energy optimization initiatives.

Another positive effect of our local approach to property management is that we sense the changing needs of our tenants early on. This creates opportunities for Emilshus to carry out profitable expansion and modification projects that meet the tenant’s demand for new premises solutions.

Strengthened financial position
During the year, Emilshus’s capital base was strengthened through new issues of both ordinary and preference shares. Furthermore, refinancing has been completed and new bonds have been issued, both on better terms than previously, while additional scope for further expansion has been carved out.

Looking forward
Emilshus has a highly diversified property portfolio, based on a well-functioning business model and approach to property management, with more than 1 million sqm of leasable area and nearly 900 tenants. For tenants, this means efficient premises solutions, and for Emilshus it creates a basis for healthy earnings and strong cash flows. This provides us with a stable foundation for continued profitable growth. We are submitting a forecast for full-year 2026 of MSEK 480 in profit from property management.

Växjö, February 2026
Jakob Fyrberg, CEO

Report presentation
Telephone conference (only in Swedish)
When: Friday February 6, 09:00 a.m.
To call in and ask questions call: +46 8 5053 9728, then enter Meeting ID: 853 4193 6331#.
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/bokslutskommunike-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

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 December 31, 2025 totaled 1,188 ksqm of leasable area distributed among 233 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