Alma íbúðafélag hf. Financial Summary for Mid-2025
The board of Alma íbúðafélag hf. has approved the financial statement for the first half of 2025.
The revenue of the group reached 2.871 billion kr., which includes rental income of 2.590 billion kr. and other operational revenues of 280 million kr. The operational profit before adjustments and depreciation (EBITDA) amounted to 2.127 billion kr., reflecting an increase of 147 million kr. compared to the same period last year. The profit for this period totaled 769 million kr.
As of June 30, 2025, the total assets of the group amounted to 114.482 billion kr., comprising investment assets valued at 79.661 billion kr., and listed shares worth 4.627 billion kr. The equity on the last day of June 2025 was recorded at 37.627 billion kr.
In 2024, Langisjór ehf., the parent company of Alma íbúðafélag hf., made a takeover offer for Eik fasteignafélag hf. under the takeover laws and completed that process in mid-October 2024. Among the partners involved was Brimgarðar ehf., a subsidiary of Alma íbúðafélag. The group’s stake in Eik is now recorded for the first time under the equity method since they acquired a 20% share in Eik. As of the end of the period, the recorded value of the group’s stake in Eik was 10.857 billion kr.
Statement from Ingólfur Árni Gunnarsson, CEO of Alma íbúðafélag hf.:
"The operations of Alma íbúðafélag have performed well during this period, with a strong demand for rental housing from our company. We maintain a solid liquidity position, a reliable customer base, and ongoing demand for our services, all while establishing a renowned brand within the Icelandic housing market.
We have also continued to divest properties that do not align with our investment strategy. During this period, the company sold 25 apartments while acquiring one. By the end of June, our asset portfolio comprised 1,003 apartments along with 64,000 square meters of commercial space. In the latter half of the year, Alma is set to receive new apartments at Heklureitnum. These assets conform to our strategy that prioritizes high-quality, well-located apartments near public transport and essential local services.
We are currently working to simplify the group's operations through the merger and sale of inactive companies. This process is expected to conclude in the coming months, reducing the subsidiaries from twelve to six.
In recent months, we have been focusing on streamlining operations to enhance efficiency and build a robust future position. Alongside this, sustainability has been a priority—addressing the expectations of tenants and investors while strengthening the company for the long term."
For more information, contact Ingólfur Árni Gunnarsson, CEO, at ingolfur@al.is.
Frequently Asked Questions
What are the key financial metrics for Alma íbúðafélag hf.?
The key metrics include total revenues of 2.871 billion kr., operational profit of 2.127 billion kr., and profit for the period at 769 million kr.
What does the company's asset portfolio consist of?
As of June 30, 2025, the company holds 1,003 apartments and 64,000 square meters of commercial space.
What strategic actions has Alma íbúðafélag hf. taken recently?
Alma has sold properties not aligned with their investment strategy and is working on simplifying group operations through mergers and sales.
How has the company performed compared to last year?
The company noted an increase in operational profit by 147 million kr. compared to the same period last year.
Who can be contacted for more details regarding the financial report?
Ingólfur Árni Gunnarsson, the CEO, can be contacted for more information.
