Olav Thon Eiendomsselskap reports strong Q3 results despite property value adjustments

Olav Thon Eiendomsselskap ASA reported a satisfying Q3 2025, with pre-tax profit of NOK 486 million and net rental income reaching NOK 875 million, up from NOK 831 million in Q3 2024. The company's financial position remains robust, with an equity ratio of 51% and liquidity reserves of NOK 9,387 million. Property values experienced a slight adjustment, with investment property values decreasing by NOK 127 million, while financial instruments saw a positive change of NOK 51 million.

The company's shopping centre portfolio demonstrated strong operational performance, with sales increasing by 4% to NOK 15,392 million in Q3 2025 compared to the same period last year. A significant strategic move was the agreement to acquire an additional 40% of Sartor Storsenter, making Olav Thon Eiendomsselskap the sole owner. Net investments for the quarter amounted to NOK 733 million, contributing to a total of NOK 1,475 million for the first nine months of 2025.

The overall market value of properties was NOK 59,949 million at the end of Q3 2025, with an average yield requirement of 6.2%. The company's average interest rate was 4.50% at the balance sheet date, and its interest coverage ratio stood at 3.1.