Bifogade filer
PPI Q2 2025 Report
Prenumeration
Beskrivning
| Land | Norge |
|---|---|
| Lista | Oslo Bors |
| Sektor | Fastigheter |
| Industri | Förvaltning |
Net operating income was up by 41 % to NOK 213 million (NOK 151 million) in the second quarter and by 44 % to NOK 402 million (NOK 279 million) in the first six months of 2025, compared to the same period last year. Net income from property management was up by 51 % to NOK 116 million (NOK 77 million) in the second quarter and by 61 % to NOK 208 million (NOK 129 million) for the first six months of 2025. Positive changes in fair value of investment properties came in at NOK 203 million in the second quarter and NOK 273 million year to date and profit (loss) before tax was NOK 221 million (13 million) in the second quarter and NOK 430 million (-203 million) year to date.
“PPI is a growth company with a stated ambition of being a leading consolidator and we have grown net cash flow from operating activities from NOK 162 million in H1 2024 to NOK 384 million in H1 2025. Our strong balance sheet and proven access to both debt and equity markets gives us a solid platform to continue our growth journey” says André Gaden, CEO.
PPI signed new and renewed leases for a total of 22,900 sqm in the quarter. As of 31.03.2025, the occupancy in the management portfolio was 97.9 %. Per the same date, PPI owned 96 properties, with a total market value of NOK 14,938 million, with an average lease term of 6.8 years (WAULT) and an average net yield of 6.5 % in the management portfolio.
During the second quarter, PPI acquired 19 properties of which 16 are located in Norway and three in Finland. In total, these properties have added around 197,000 sqm to the portfolio. As a result, PPI’s estimated run rate rental income increased by 25.5 % from NOK 823 million as of 31.03.25 to NOK 1,033 million as of 30.06.25.
PPI maintains a solid balance sheet with an EPRA LTV of 44.1 % and a Net debt/Run rate EBITDA multiple of 7.8 as of 30.06.2025. During the quarter, PPI issued a new EUR 350 million long 7-year senior unsecured bond with a fixed coupon of 4.375 %. PPI has also issued approximately NOK 2.4 bn in new equity through transactions, of which approximately NOK 2.3 bn in the transaction with Aker, as announced on 13 May 2025. As a result of this transaction, Aker Property Group is now PPI’s second largest shareholder, holding 24.6 % of the outstanding shares.
Management will present the results in a webcast, followed by a Q&A session today at 10:00 CET. The webcast may be followed from: https://publicproperty.no/en/investor-relation.
Questions may be submitted by email to IR@publicproperty.no.