Core Insights - The company reported strong growth in revenue and EBITDA for the first nine months of 2025, with operating revenue reaching ISK 9,296 million, a 9.2% increase year-on-year [4][5] - The company has updated its outlook for 2025, expecting operating revenues between ISK 12,360 and 12,610 million, with rental income estimated between ISK 10,650 and 10,870 million [13][14] Financial Performance - Operating revenue for the first nine months was ISK 9,296 million, with rental income contributing ISK 7,980 million, reflecting a real growth of 5.1% year-on-year [4] - EBITDA for the period was ISK 5,968 million, marking a 7.8% increase compared to the previous year [5] - Profit before income tax was ISK 4,755 million, and total profit for the period was ISK 3,804 million [5] - The Net Operating Income (NOI) ratio was 72.6%, slightly down from 73.4% in the same period of 2024 [6] Balance Sheet Overview - Total assets amounted to ISK 163,349 million, with investment properties valued at ISK 152,811 million [7] - The company's equity was ISK 53,071 million, resulting in an equity ratio of 32.5% [7] - Total liabilities were ISK 110,278 million, with interest-bearing liabilities at ISK 88,360 million [8] - The loan-to-value ratio was 55.7% at the end of the period [9] Real Estate Portfolio - The company signed a purchase agreement for all shares in Festing hf., which includes properties totaling approximately 43,000 square meters [10] - The occupancy rate improved to 95.6%, an increase of 2.0 percentage points from the beginning of the year [11] - The company signed lease agreements for nearly 30,500 square meters during the first nine months [12] Updated Outlook - The company expects a 2025 occupancy rate between 94-95% and anticipates annual rental income to increase by ISK 470 - 510 million once the target occupancy is achieved [15][16] - The updated outlook does not include income or expenses from Festing hf.'s properties for 2025 [14] Organizational Changes - A new organizational structure was announced to enhance customer service and streamline communication, reducing the executive management team from seven to four members [17]