Olav Thon Eiendomsselskap
Logotype for Olav Thon Eiendomsselskap

Olav Thon Eiendomsselskap (OLT) investor relations material

Olav Thon Eiendomsselskap Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Olav Thon Eiendomsselskap
Q4 2025 earnings summary10 Feb, 2026

Executive summary

  • Thon Gruppen AS completed a voluntary offer, acquiring 100% of shares at NOK 335 per share, leading to delisting from Euronext Oslo Børs.

  • The group plans to further develop the company as Norway's largest private real estate firm and may consolidate property portfolios.

  • A new unified brand, "Ett Thon," will be launched, consolidating shopping centers under the "Thon Senter" name.

  • Q4 profit before tax was NOK 568 million, down from NOK 1,262 million in Q4 2024; full-year profit before tax was NOK 2,415 million versus NOK 2,863 million last year.

  • Rental income in Q4 rose to NOK 1,022 million (from NOK 960 million), and for 2025 reached NOK 3,996 million (up from NOK 3,807 million).

Financial highlights

  • Q4 2025 result before tax was MNOK 568, down from MNOK 1,262 in Q4 2024; value changes were MNOK 148 vs. MNOK 725.

  • Brutto leieinntekter (gross rental income) for Q4 2025 was MNOK 1,022, up 5% year-over-year.

  • Equity ratio at 50.2%, loan-to-value (LTV) at 36.6%, and liquidity reserves at MNOK 9,021.

  • Return including dividend was 23% in 2025 and 103% over the last three years.

  • Net cash flow from operations in 2025 was NOK 1,974 million (NOK 1,953 million in 2024).

Outlook and guidance

  • The company expects continued solid operational results despite high interest rates and macroeconomic uncertainty.

  • Dividend policy will be revised; no ordinary dividend proposed for 2025.

  • Plans to potentially lower the maximum LTV from 45%.

  • Norwegian economic growth is expected to remain low, with moderate wage growth and inflation above target.

  • Norges Bank is expected to reduce interest rates one to two times in 2026.

Outlook for 2026 net interest expenses?
Why did the vacancy rate increase in 2025?
Impact of 0.5% yield increase on property value?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Olav Thon Eiendomsselskap earnings date

Logotype for Olav Thon Eiendomsselskap
Q1 202613 May, 2026
Olav Thon Eiendomsselskap
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Olav Thon Eiendomsselskap earnings date

Logotype for Olav Thon Eiendomsselskap
Q1 202613 May, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Olav Thon Eiendomsselskap ASA is a Norwegian real estate company primarily focused on owning, managing, and developing commercial properties. Its portfolio includes shopping centers, office buildings, and hotels, with a significant portion of assets concentrated in Norway and Sweden. The company is one of the leading operators of shopping centers in Norway, offering retail space and property management services to various tenants. In addition to commercial real estate, Olav Thon Eiendomsselskap is involved in residential property development, adding diversification to its business operations. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage