Q4 IFPM -12% vs ABGSCe
Eastnine delivered a Q4 report with sales of EUR 9m (-1% vs ABGSCe). The NOI margin came in at 91.7%, down 0.7 pp y-o-y and -0.7 pp vs ABGSCe, driving NOI of EUR 8.2m (-2% vs ABGSCe). Net financial expenses were higher than anticipated (partly driven by non-quantified non-recurring expenses in relation to the repurchase of outstanding bonds), which explains IFPM being -12% vs ABGSCe. Occupancy amounted to 93.1%, down >2pp q-o-q, and net leasing in the quarter was +EUR 0.33m. Proposed DPS at SEK 4.64 (ABGSCe at 4.03).