EgnsINVEST Ejd. Tyskland today published its financial results for the first half of the year, with results in line with the company's expectations.
In the first half of the year, EgnsINVEST Ejd. Tyskland achieved revenue of DKK 30.2 million and a pre-tax profit of DKK 18 million. Earnings before value adjustments (EBVAT) came in at DKK 7.1 million, while value adjustments amounted to DKK 10.9 million. Management describes the result as satisfactory and in line with the budget.
The positive value adjustment occurred in a property market with unchanged yield requirements, reflecting the company's ongoing work to increase rental income through rent increases, improved lease agreements, and efficient re-letting when a tenancy is vacated. At the same time, vacancy rates remain low in both residential and commercial properties, supported by continued demand for housing, particularly in Berlin. As of June 30, vacancy stood at 2.16% for residential and 8.14% for commercial properties, corresponding to a total vacancy rate of 2.78% (23 units).
The company is working systematically to renovate apartments upon tenant turnover in order to raise rents, and continues efforts to secure rent increases when re-letting commercial units. The company has unused credit facilities of DKK 54.8 million available for portfolio development, and is currently building, among other things, rooftop apartments that will be rented out at higher prices as soon as they are completed.
Since March 30 this year, EgnsINVEST Ejd. Tyskland has been running a share buyback program with the aim of reducing the company's share capital by the shares acquired. Through June 30, the company had repurchased a total of 7,770 own shares for a total of DKK 1,105,631, corresponding to approximately 0.34% of the share capital. In 2025, the company also carried out a share buyback program, under which a total of 39,036 shares were repurchased. In accordance with the board's recommendation, these were cancelled by the general meeting on May 27, 2026.
CEO Maibritt Lindstrøm comments on the financial results:
This spring, we entered into a new lease agreement with a company specializing in renting out holiday accommodation. A special permit is required to rent out apartments as holiday accommodation, and the entire market is tightly regulated because Berlin generally has a housing shortage. Today, it would be impossible to obtain such a permit. However, we hold one for some of our apartments, granted years ago before growth really took off in Berlin. The new contract has been agreed at a significantly higher rent than before. At the same time, the tenant has been responsible for the renovation and modernization of the apartments.