Pioneer Property Group H1 25

PPG H1 financial report

Highlights of the half-yearly 2025 report
 Contractual rental income for the first half of 2025 was MNOK 76.5 compared to MNOK 49.2 for the
first half of 2024. The large increase is due to the acquisition of Norlandia Holding, completed in Q4
2024.
 Operating profit (EBIT) for the first half of 2025 was MNOK 56.8 compared to MNOK 44.1 for the first
half of 2024.

Profit for the first half of 2025 for total operations amounted to MNOK 14.2, compared to MNOK 17.5 for the
first half of 2024. The increased lease income has been offset by increasing interest cost (räntor sjunker så vinst bör öka H2). The fair value
adjustment in 1H 2025 is in line with the fair value adjustment in 1H 2024.
At the end of the first half of 2025, PPG had total assets of MNOK 3,040.7 mainly compromised of MNOK
2,299.5 as investment property, investment in associated companies of MNOK 337.6, MNOK 50.8 in Hospitality
Invest bonds and a cash balance of MNOK 79.3. Total equity amounted to MNOK 1,218.3 (1,257.1 in 1H 2024).
At the end of the first half total borrowings amounted to MNOK 1.715,5 (2.029.6 in 1H 2024).

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