Sweden's Eastnine Q1 rental income dips on low occupancy, high energy costs

Eastnine AB (publ)

28/04/2026 13:10

Overview

Sweden real estate firm's Q1 rental income fell 1% yr/yr amid lower occupancy, high energy costs

Q1 profit from property management declined 2% yr/yr

Company agreed to sell two Riga properties post-quarter for about EUR 38 mln to boost liquidity

Outlook

Company expects liquidity to increase by about EUR 12 mln in Q2 from Riga property sale

Eastnine continues groundwork for future acquisitions, with focus on Warsaw

Company targets net-zero greenhouse gas emissions in property portfolio and value chain by 2040

Result Drivers

LOWER OCCUPANCY AND HIGH ENERGY COSTS - Co said lower average occupancy rate and high energy costs due to a cold winter weighed on Q1 earnings

RENT INDEXATION - Rent indexation of about 2% supported rental income, though not fully visible due to prior period reclassifications

POLAND ORGANIZATION TRANSITION - Transition to in-house operations in Poland temporarily affected earnings as external suppliers are phased out

Company press release: ID:nWkrvjjBX

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Rental Income
EUR 15.43 mln
Q1 Net Income
EUR 7.50 mln
Q1 Operating Income
EUR 14.05 mln
Q1 Profit From Property Management
EUR 7.67 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)