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Heimar (HEIMAR) investor relations material
Heimar Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue grew 18.1% year-over-year in Q1 2026, reaching ISK 4,325 million, with real revenue growth at 13.7% and strong leasing momentum, including 21 new lease agreements covering over 9,200 sqm.
EBITDA increased by 16.5% year-over-year to ISK 2,853 million.
Net profit for Q1 was ISK 2,266 million, up 64% from Q1 last year.
Occupancy rate remains high at 96%, with 74–75% of rental revenue from core areas in Reykjavík.
Investments in high-quality properties and major development projects, such as Sóltún nursing home and Dvergshöfði 4, are driving growth.
Financial highlights
Investment properties valued at ISK 235 billion; total assets at quarter-end were ISK 249,176 million.
Interest-bearing liabilities at ISK 141–142 billion.
Equity ratio at 32.3%, LTV ratio at 61.4%.
Fair value adjustments of investment properties totaled ISK 4.3 billion in Q1 2026.
EBITDA margin at 69.3% of rental income.
Outlook and guidance
Inflation trends are pushing the full-year outlook toward the upper end of previously announced guidance.
No refinancing needs anticipated through 2026; refinancing of 2027 bank loans is underway.
94% of rental income is indexed, mitigating inflation risk.
- EBITDA and rental income grew strongly, with net profit reaching ISK 4,261 million.HEIMAR
Q2 20248 Apr 2026 - Net profit and rental income surged, with strong occupancy and a major acquisition pending.HEIMAR
Q4 20248 Apr 2026 - Rental income and EBITDA rose, net profit fell on lower revaluations, and outlook was upgraded.HEIMAR
Q2 20258 Apr 2026 - Revenue and EBITDA rose over 9%, with strong growth, sustainability, and positive outlook.HEIMAR
Q4 20258 Apr 2026 - Rental income and EBITDA up 8.2%, with 97% occupancy and ongoing share buybacks.HEIMAR
Q3 202514 Dec 2025 - Rental income, EBITDA, and profit rose over 7% year-over-year, with high occupancy and asset sales.HEIMAR
Q3 202413 Jun 2025 - Rental income and EBITDA grew, with high occupancy and major acquisitions pending.HEIMAR
Q1 20256 Jun 2025
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