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Report for the 4th quarter and preliminary results of 2025

The Group had a satisfactory development in the fourth quarter, with profit before income tax amounting to NOK 568 million (1 262 million in the same period last year).

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Highlights of the report for Q4 20251:

  • The Group had a satisfactory development in the fourth quarter, with profit before income tax amounting to NOK 568 (1 262) million.
  • The Group’s rental income in the fourth quarter amounted to NOK 1 022 (960) million.
  • Fair value adjustments of investment properties amounted to NOK 192 (504) million, and fair value adjustments of interest rate derivatives totalled NOK -11 (189) million in the quarter.
  • Profit before tax, fair value adjustments and currency result amounted to NOK 478 (527) million in fourth quarter.
  • The Group’s financial position is solid. By the year-end the Group’s equity ratio was 50 % (51 %), while the liquidity reserve amounted to NOK 9 021 (6 561) million.
  • Retail sales in the shopping center portfolio in the fourth quarter were NOK 19 111 (18 266) million, an increase of 5 % compared to the same quarter last year.
  • In the fourth quarter, an agreement was signed to purchase the property Storgata 5 -7 of approximately 6 500 square meters in central Oslo.
  • Thon Gruppen AS launched a voluntary offer to purchase all outstanding shares in Olav Thon Eiendomsselskap ASA, and received acceptances that increased its ownership interest to 94,8 % at the end of the offer period in January 2026. Following the compulsory redemption of remaining minority shareholders at the end of January 2026, Thon Gruppen's ownership interest increased to 100 %.

1The figures in brackets are for the corresponding period/date last year.

OTE Report for Q4 2025 - frontpage