Copenhagen Capital (CPHCAP) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached DKK 17.6 million, up from DKK 12.8 million year-over-year, driven by portfolio expansion and stable operations.

• EBIT increased to DKK 13.1 million from DKK 8.4 million in Q1 2025; EBVAT rose to DKK 6.7 million from DKK 3.7 million.

• Acquired full ownership of NTR Holding A/S and delisted it; purchased Dag Hammarskjölds Allé 13 in partnership with Tokara Ventures for residential conversion.

• Continued modernization and leasing of residential and commercial units, with low vacancy rates across the portfolio.

Financial highlights

• Revenue grew 37% year-over-year to DKK 17.6 million in Q1 2026.

• EBIT margin improved to 74.0% from 65.0% in Q1 2025.

• Financial net expenses increased to DKK 6.4 million from DKK 4.6 million, mainly due to a larger balance sheet and loan refinancing.

• Five out of 24 condominiums at Stadionvej 92-94 sold at prices about 20% above book value as of 31.12.2025.

Outlook and guidance

• 2026 EBVAT guidance maintained at DKK 24–27 million.

• Positive fair value adjustments of properties and debt expected in the range of DKK 25–40 million.

• Pre-tax profit for 2026 forecasted at DKK 49–67 million.

• Guidance subject to property transactions and developments in interest and credit markets.