Core Insights - The company reported strong revenue growth in the first quarter of 2025, with operating profit before valuation adjustments reaching 2.801 billion ISK, an increase of 10.2% year-over-year [1] - Total revenues for the quarter were 4.305 billion ISK, reflecting a 9.8% increase driven by significant investments made in the previous year [1] Investment Activities - The company invested approximately 3 billion ISK in the quarter and has invested 5.2 billion ISK year-to-date [2] - Major transactions include the acquisition of 201 Hotel in Kópavogur, expected to close in the summer, which is anticipated to generate immediate revenue growth [2] Growth Strategy - The company has made progress in all four pillars of its growth strategy, with investments in various projects and property acquisitions supporting growth and increased profitability [3] - By the end of 2028, the company estimates that investments of around 15 billion ISK in development and construction projects will yield an increase in revenue of 2.550 billion ISK [3] Ongoing Projects - Construction is underway at Kringlureit, where a new urban neighborhood is being developed, including plans for approximately 420 apartments in the first phase [4] - At Korputún, construction has begun, and the company has sold land to JYSK, with positive developments leading to a valuation increase of 1.1 billion ISK [5] Financial Performance - Key financial metrics for Q1 2025 include rental income of 4.305 billion ISK, operating profit before valuation adjustments of 2.801 billion ISK, and net profit of 1.094 billion ISK [10] - The company’s total assets increased to 235.890 billion ISK, with equity rising to 73.072 billion ISK [10] Future Outlook - The company anticipates annual revenues between 17.700 and 18.000 billion ISK, with operating profit before valuation adjustments projected at 11.750 to 12.000 billion ISK [11] - New agreements for Hilton Nordica and Reykjavik Natura, along with the acquisition of 201 Hotel, are expected to bring revenues and operating profit closer to the upper limits of the forecast [11]