Press the button and be introduced to a new random company!

Introduce me >

Social media

facebook   Follow us on Twitter

Coverage

Eastnine

Eastnine

Send subscription Close

Eastnine is a Swedish long-term real estate manager of modern, sustainable offices and logistics premises at prime locations in the Baltics and Poland. A majority of the property value is located in Vilnius, where EAST is the largest prime office owner. The Baltics are growing faster than the Nordics and both the office and logistics markets are picking up speed. The region is also technically advanced and has an attractive tax regime.

Sustainability information

Real estate companies are subject to macro risks, supply of premises risk, supply of capital risk, debt availability risk, forex risk, regulatory risk, rental income risk, property cost risk, property value risk and ownership risk. We argue that the key specific risks related to Eastnine are macro risks, forex risks and portfolio risks.

Financials

EURm 2025 2026e 2027e
Rental income N/A N/A N/A
Sales 61,72 61,41 61,99
Rental growth 48,65 -0,51 0,94
NOI 57,65 56,86 57,4
NOI margin (%) 93,4 92,6 92,6
CEPS 0,3 0,33 0,35
CEPS growth (%) N/A N/A N/A
CEPS growth 28,87 11,01 4,78
DPS N/A N/A N/A
Dividend per share 0,11 0,12 0,13
EPRA NRV per share 5,11 5,48 5,9
EPS 0,43 0,42 0,47
EPS adj. 0 0 N/A
P/CEPS 13,6 12,2 11,7
P/E (x) 9,44 9,5 8,52
P/EPRA NRV 0,79 0,74 0,68
Implicit yield (%) 6,5 6,8 7
Dividend yield (%) 2,8 3 3,1
Net loan to value 46,97 42,54 39,71
LTV (%) 0 N/A N/A
EURm 2025 2026e 2027e
Rental income N/A N/A N/A
Sales 61,72 61,41 61,99
Other income N/A N/A N/A
Other income RE 0 0 0
Operating costs -4 -5 -5
NOI 57,65 56,86 57,4
NOI margin (%) 93,4 92,6 92,6
Adm. costs -5 -5 -5
All other income & costs 0 0 0
Recurring EBIT 53 52 52
Net financial items N/A N/A N/A
Net financial items RE -22 -19 -18
Income from property management 31 33 35
Value chg. realized 0 0 0
Value chg. unrealized 21 12 20
Value chg. derivatives 1 4 0
Pretax profit N/A N/A N/A
Pretax profit RE 54 49 54
Deferred tax N/A N/A N/A
Deferred profit tax -10 -7 -7
Current tax -2 -1 -1
Net profit N/A N/A N/A
Net profit RE 42 41 46
Minority interest 0 0 0
Div. Pref/D-shares and hybrids N/A N/A N/A
Dividend to preferred shareholders 0 0 0
Net profit to shareholders N/A N/A N/A
Net profit to shareholders RE 42 41 46
Cash earnings 29 32 34
Other related information N/A N/A N/A
Year N/A N/A N/A
Tax Rate (%) N/A N/A N/A
Tax Rate RE 22 15,4 15
Investments in developments -6 -6 -5
Acquisitions 0 0 0
Other investments N/A N/A N/A
Divestments 0 37 0
EPS 0,43 0,42 0,47
CEPS 0,3 0,33 0,35
Dividend per share 0,11 0,12 0,13
Payout ratio of CEPS 38,62 36,53 36,6
Rental growth 48,65 -0,51 0,94
NOI growth 49,52 -1,36 0,95
CEPS growth 28,87 11,01 4,78

Equity research

Read earlier research

Media

Eastnine - Company presentation with CEO Kestutis Sasnauskas and CFO Britt-Marie Nyman
Eastnine - Company presentation with CEO Kestutis Sasnauskas & CFO Britt-Marie Nyman

View more media

Main shareholders - Eastnine

Main shareholders Share capital % Voting shares % Verified
Peter Elam Håkansson 17.8 % 17.8 % 28 Apr 2026
Kestutis Sasnauskas 10.0 % 10.0 % 19 Feb 2026
Nordnet Pensionsförsäkring 7.8 % 7.8 % 28 Apr 2026
Arbona AB (publ) 6.0 % 6.0 % 31 Mar 2026
Avanza Pension 5.7 % 5.7 % 28 Apr 2026
Patrik Brummer 3.4 % 3.4 % 28 Apr 2026
Bonnier Fastigheter Invest AB 3.3 % 3.3 % 28 Apr 2026
Utmost International Isle Of Man Limited 3.0 % 3.0 % 17 Mar 2026
Gemsstock Limited 2.9 % 2.9 % 17 Mar 2026
Wealins S.A. 1.9 % 1.9 % 17 Mar 2026
Source: Holdings by Modular Finance AB