Q1 2026 Cibus Nordic Real Estate AB (publ) Earnings Call Transcript
Key Points
- Cibus Real Estate AB (publ) (LSE:0ABQ) reported a 16% increase in net operating income to €42.6 million compared to the previous year.
- The company continues to distribute a monthly dividend with a yield of over 6% on the actual share price.
- Cibus Real Estate AB (publ) (LSE:0ABQ) successfully refinanced bond loans and hybrid capital at significantly lower levels, reducing financial costs.
- The company announced new acquisitions in Finland, Norway, and Sweden valued at €103 million, indicating continued growth.
- The occupancy rate of properties is high at 99.5%, with a stable tenant mix focused on grocery and daily goods, providing reliable cash flows.
- Market value of properties slightly declined by 0.15% due to adjusted market rents in Finland.
- The company faced increased administrative expenses, rising from €3.4 million to €4.5 million, including a €400,000 one-off cost.
- Higher property costs driven by increased vacancy negatively impacted net operating income by €3 million.
- The portfolio was affected by terminated leases in the furniture retail segment, increasing vacancy rates.
- Despite refinancing efforts, the net loan-to-value ratio remains relatively high at 57.2%.
This report presentation for the first part of the presentation (Operator Instruction) now I will hand the conference over to the speakers please go ahead.
Hello, welcome. My name is Dina Lindhirk and I'm a CEO at Cebus and with me I have Pierliema Olofsson, CFO.
We live in a very turbulent and unpredictable world right now and with that comes also a volatile stock market. So with that said, I'm glad to present a staple quarter for Cebus.
And that we can continue to distribute monthly dividend by over 6% fee on actual share price.
Sibbus mainly focuses on grocery properties and other so listed daily goods real estate company in the Nordics.
The aim is to create stable cash flows and the company has been listed since 2018 and has grown from owning food properties only in Finland to now having operation in separate countries. As you see on the picture here, this is a good start to continue growth in existing markets and also investigate new markets in Europe.
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