Prime Office (PRIMOF) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was DKK 99.4 million, down 1.6% year-over-year, mainly due to property sales in MC Property Fund Hamburg.

• Operating profit increased by 2.3% to DKK 57.0 million, while profit before value adjustments and tax fell 9.3% to DKK 34.5 million.

• Net profit for H1 2026 was DKK 28.2 million, nearly unchanged from H1 2025.

• Equity rose slightly to DKK 1,946.0 million, and liquidity improved to DKK 136.9 million.

Financial highlights

• Rental income from K/S Danske Immobilien (residential) rose 2.0% to DKK 62.8 million; Prime Office Kontor fell 1.8% to DKK 24.3 million.

• Operating expenses decreased 7.7% to DKK 32.9 million; admin expenses fell 1.8% to DKK 9.4 million.

• Value adjustment of investment properties was -DKK 0.3 million, a significant improvement from -DKK 3.4 million last year.

• Financial net expenses increased to DKK 22.5 million due to new debt for project financing.

• Loan-to-value (LTV) increased to 52.3% from 48.0% year-over-year; equity ratio declined to 40.2% from 43.6%.

Outlook and guidance

• Full-year 2026 revenue expected between DKK 195–210 million; operating profit DKK 105–125 million; pre-tax profit before value adjustments DKK 65–85 million.

• No change in guidance following the decision to divest German properties.

• Financial market uncertainty remains high due to geopolitical tensions and US trade policy.