STEEN & STRØM PUBLISH HALF-YEAR REPORT 2025
OPERATING PERFORMANCE Steady sales growth and increased rental income
Year-to-date, sales in our shopping centers have grown by 1.3% on a like-for-like portfolio basis. Sweden shows the strongest increase at +3.1%, while Denmark and Norway saw slight declines of -0.4% and -0.9% respectively. Emporia (+5.6%) and Field’s (+1.1%) have been the main growth drivers, together with Bryggen in Vejle (+4.8%). The health & beauty segment leads growth (+4.6%), followed by supermarkets and cinemas (+3.5%).
Gross rental income rose by 4.8% on a like-for-like basis, driven mainly by indexation and solid performance across several centres. Total gross rental income reached NOK 830.9 million, an increase of 7.8% including currency effects. Net rental income increased by 10% to NOK 742.5 million, supported by higher variable revenues and lower bad debt provisions.
Operating income reached NOK 958.3 million and pre-tax profits NOK 796.3 million, both significantly above last year’s figures. The improvement is mainly due to an increase in the fair value of our properties and stronger earnings from joint ventures.