Kaldalón hf. has completed the sale of unsecured six-month bills in series KALD 26 0901. Offers were received totaling ISK 1,340 million, with flat interest rates ranging from 7,95% to 8.58% per annum. Bills with a nominal value of ISK 1,040 million were sold at an interest rate of 8.04%. The payment and settlement date is Monday, 1 March 2026. An application will be submitted for the bills to be admitted to trading on the Nasdaq Iceland Main Market, and the first trading day will be announced with at least ...

Core Insights - The presentation of the 2025 Management Accounts for Kaldalon hf. has been shared, indicating a focus on future financial performance and strategic planning [1][2] Group 1 - The document includes detailed financial projections and management strategies for the year 2025 [1] - Kaldalon hf. aims to enhance its operational efficiency and market positioning through these management accounts [2]

Core Viewpoint - Kaldalón hf. demonstrated strong performance in 2025, achieving significant growth in operating revenues and profits, while maintaining a positive outlook for 2026 [3][14]. Financial Performance - Operating revenues for 2025 reached ISK 5,598 million, compared to ISK 4,508 million in 2024 [2]. - Operating profit before fair value adjustments increased to ISK 4,387 million from ISK 3,548 million year-on-year [2]. - Profit before tax decreased to ISK 3,525 million from ISK 4,311 million in the previous year [2]. - The cash balance at the end of the period was ISK 1,090 million, down from ISK 1,727 million in 2024 [2]. - The return on equity was 12.5%, a decline from 13.3% in 2024 [2]. Growth Strategy - The company is on track to achieve its target of a ISK 100 billion property portfolio, with operating profit and rental income increasing by 24% year-on-year [7]. - Kaldalón invested approximately ISK 8 billion in property acquisitions and development during the year [11]. - The company has a relatively young property portfolio, with ongoing construction projects to meet stable demand for commercial properties [12][14]. Market Position and Outlook - Kaldalón's operating outlook for 2026 is positive, with expected operating revenues between ISK 6,200 million and ISK 6,350 million [15]. - The forecast assumes a 4.3% year-on-year inflation rate and a comparable occupancy ratio [15]. - The company plans to propose a dividend payment of ISK 1,000 million to shareholders for the financial year [17]. Financing and Debt Management - The company has shifted from bank financing to market-issued bonds, with approximately 36% of interest-bearing debt financed by banks at year-end [10]. - Inflation-indexed average interest rates declined by 8% year-on-year, contributing to improved performance [10].

Group 1 - Kaldalón hf. will publish its unaudited management accounts for the financial year 2025 on February 12, after market close [1] - An open presentation meeting will take place on February 13 at 08:30, with access via Entrance A [1] - The management will review operations for the year, interim financial results, and future outlook during the meeting [2] Group 2 - Presentation materials will be available on Kaldalón hf.'s website at the start of the meeting [2] - Further inquiries can be directed to Högni Hjálmtýr Kristjánsson, Chief Operating Officer [3]

Core Viewpoint - Kaldalón hf. has successfully issued a new green bond series, KALD 100240 GB, aimed at financing environmentally sustainable projects, with a nominal amount of ISK 3,000 million and a yield of 3.90% [1][3]. Group 1: Bond Details - The bond series is CPI-indexed, has a 14-year term, and features a 30-year amortization schedule with equal semi-annual payments [1]. - The bonds are secured under a general collateral framework and are part of the company's ISK 40,000 million issuance programme [1]. Group 2: Issuance and Trading - The scheduled payment and settlement date for the bonds is set for Tuesday, 10 February 2026, with plans for admission to trading on Nasdaq Iceland [2]. - Landsbankinn's Corporate Advisory and Capital Markets managed the issuance and sale of the bonds, as well as the application for trading admission [2]. Group 3: Sustainability Framework - Kaldalón hf. issues the bonds in accordance with its Green Finance Framework, which supports financing or refinancing of environmentally certified real estate and projects aligned with its sustainability policy [3]. - The Green Finance Framework has undergone an independent external review, ensuring its credibility [3].

Group 1 - Kaldalón hf. purchased 400,000 of its own shares for a total consideration of ISK 10,840,000 as part of its share buyback program [1] - Following the latest transactions, Kaldalón hf. now holds a total of 21,002,721 treasury shares, which is 1.93% of the company's total issued share capital [2] - The buyback program commenced on 29 October 2025, with a maximum target of 9,000,000 shares and a total consideration limit of ISK 250,000,000 [3] Group 2 - The total number of shares purchased under the buyback program reached 6,812,800, equivalent to 0.63% of the issued share capital, with a total purchase price of ISK 177,841,394 [2] - The buyback program was conducted in compliance with the Icelandic Companies Act and relevant EU regulations on market abuse [4]

Core Viewpoint - Kaldalón hf. has successfully signed a purchase agreement for all real estate assets owned by FÍ fasteignafélag, marking a significant expansion of its property portfolio in the Greater Reykjavík area [1][3]. Group 1: Transaction Details - The total purchase price for the real estate portfolio is ISK 13,150 million, financed through the issuance of equity and bonds [4]. - The transaction involves the delivery of 228,112,591 new shares in Kaldalón and bonds amounting to ISK 7,232.5 million, with bonds issued at a yield of 3.93% [4]. - The bonds will be listed on Nasdaq Iceland and sold at par, with a margin of 120 basis points above the average yield of the Icelandic government bond yield curve [4]. Group 2: Property Portfolio - The acquired portfolio consists of 11 properties totaling approximately 25,200 square meters, including a hotel, an embassy, a healthcare facility, and office premises [2]. - Key assets include a 100-room hotel at Hverfisgata 103, office premises at Borgartún 25, and a healthcare facility in Glæsibær [2]. Group 3: Financial Impact - The estimated increase in Kaldalón's annual net operating income (NOI) from the transaction is approximately ISK 870 million, with a potential increase to ISK 960 million upon full leasing of one development asset [7]. - Following the transaction, Kaldalón's total property portfolio will expand to approximately 170,000 square meters, with operating revenues expected to increase by approximately ISK 1,050 million annually [9]. Group 4: Strategic Comments - The CEO of Kaldalón expressed satisfaction with the acquisition, highlighting the central location of the properties and the presence of strong tenants, indicating a strategy to streamline the portfolio and enhance revenue [8]. - The Chairman of the Board of FÍ Eignarhaldsfélag noted the successful development of FÍ fasteignafélag and the milestone achieved through this transaction [9].

Core Viewpoint - Kaldalón hf. has successfully signed a purchase agreement for all real estate assets owned by FÍ fasteignafélag, marking a significant expansion of its property portfolio in the Greater Reykjavík area [1][3]. Property Portfolio Details - The acquired portfolio consists of 11 properties with a total floor area of approximately 25,200 square meters, including a hotel, an embassy, a primary healthcare facility, and office premises [2]. - Key assets include a 100-room hotel at Hverfisgata 103, office premises at Borgartún 25, an embassy at Laufásvegur 31, and a healthcare facility in Glæsibær [2]. Financial Aspects of the Transaction - The total purchase price is ISK 13,150 million, financed through the issuance of equity and bonds [4]. - The transaction involves the delivery of 228,112,591 new shares in Kaldalón and bonds amounting to ISK 7,232.5 million, with bonds issued at a yield of 3.93% [4]. - The issue price of the new shares is based on an average trading price of ISK 25.94 per share over the last 10 trading days prior to the offer acceptance [4]. Conditions for Completion - Completion of the transaction is contingent upon satisfactory technical inspections, approval from the Icelandic Competition Authority, and necessary amendments to bond terms [5][6]. Expected Financial Impact - The estimated increase in Kaldalón's annual net operating income (NOI) from the acquired properties is approximately ISK 870 million, with a potential increase to ISK 960 million upon full leasing of one development asset [7]. - Following the transaction, Kaldalón's total property portfolio will expand to approximately 170,000 square meters, with operating revenues expected to increase by approximately ISK 1,050 million annually [9]. Strategic Comments - The CEO of Kaldalón expressed satisfaction with the acquisition, highlighting the central location and strong tenant base of the properties, and the intention to streamline the portfolio to enhance revenue [8]. - The Chairman of the Board of FÍ Eignarhaldsfélag noted the successful development of FÍ fasteignafélag and the milestone achieved through this transaction [9][10].

Core Points - A transaction involving the purchase of 10,370,000 shares in Kaldalón by IREF ehf. has been reported, with the shares being acquired from Loran ehf. and Premier eignarhaldsfélag ehf. [1] - The transaction is in compliance with Article 19 of MAR and the Icelandic Act No. 60/2021, indicating regulatory oversight [1]. Company Summary - IREF ehf. is the buyer of the shares, which are equally owned by the sellers, Loran ehf. and Premier eignarhaldsfélag ehf. [1]

Core Viewpoint - Kaldalón hf. has successfully completed the sale of unsecured six-month bills, indicating strong market interest with total offers reaching ISK 1,400 million and a competitive interest rate range of 8.01% to 8.11% per annum [1] Group 1: Sale Details - The nominal value of the bills sold was ISK 1,000 million, with the highest interest rate set at 8.11% [1] - The payment and settlement date for the bills is scheduled for Monday, 1 December 2025 [2] - Landsbankinn hf. managed the sale of the bills, highlighting its role in facilitating the transaction [2] Group 2: Trading Information - An application will be submitted for the bills to be admitted to trading on the Nasdaq Iceland Main Market [2] - The announcement of the first trading day will be made with at least one day's notice, ensuring transparency for potential investors [2]