Q1 2026 Eastnine AB (publ) Earnings Call Transcript
Key Points
- Eastnine AB (LTS:0HEZ) maintained a high occupancy rate of 95.6%, which is considered very high for an office company.
- The company is preparing for future acquisitions and is accumulating more cash, indicating potential growth opportunities.
- Eastnine AB (LTS:0HEZ) has a strong focus on sustainability, with 100% of its portfolio being sustainability certified and 88% of its financing being green.
- The company has a diversified and stable multinational tenant list, which includes dynamic sectors such as ICT, finance, e-commerce, and medical health.
- Eastnine AB (LTS:0HEZ) reported a total shareholder return of 13% over the last 12 months, outperforming the real estate index.
- Rental income decreased by approximately 1% compared to the previous year, partly due to currency effects and lower occupancy.
- Profit from property management decreased by 2%, affected by a cold winter and increased property expenses.
- The company experienced a slight decrease in occupancy rate by 0.2%, which impacted profits.
- Property expenses increased significantly due to a cold winter and the hiring of new employees in Poland.
- There were negative unrealized value changes for properties, particularly related to the development project in Riga.
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Hello and this is Eastnine's first quarter results.
My name is Kestutis Sasnauskas. I'm CEO of Eastnine's and with me I have Britt-Marie Niemann.
We will together guide you through the quarterly result.
Today we are sending from a live studio with some live attendance which we are very happy for.
So very welcome to you as well.
And please post our questions during the presentation. We will respond to them at the end of our presentation.
So let's go into the results for the quarter.
We see it as a very stable quarter.
We're coming from a very high level of occupancy, a very high level of revenues in our portfolio. So of course.
This growth has flattened out, which is purely natural thing as we didn't do any acquisitions.
Our rental income down approximately 1%, so it's again flat. Profit from property management minus 2%.
This is also reflecting a little bit the buildup of the portfolio, not portfolio,
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