CIBUSNasdaq StockholmReal EstateIFRS · SEK

Cibus Nordic Real Estate

Cibus Nordic Real Estate is a real estate company listed on Nasdaq Stockholm Mid Cap. The company specializes in acquiring, developing, and managing high-quality properties in Europe, primarily focusing on grocery retail chains as anchor tenants. With over 670 properties, Cibus's main tenants include well-known chains such as Kesko, Tokmanni, Coop, S Group, and Lidl. The company's strategy is to convert food retail locations into stable yield-generating assets, leveraging its expertise in the European real estate market.

Revenue167m SEK
+732.6 %y/y
Net income-4.8m SEK
−0.9 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

050100150200m SEK2021: 13 m SEK20212022: 17 m SEK2022: EBIT 126 m SEK20222023: 21 m SEK2023: EBIT 25 m SEK20232024: 20 m SEK2024: EBIT 42 m SEK20242025: 167 m SEK2025167
RevenueOperating profit (EBIT)

Business

Share of revenue
Property Acquisition40 %

Involves acquiring high-quality retail properties.

Property Development20 %

Focuses on developing retail real estate assets.

Property Management30 %

Managing properties with grocery chains as tenants.

Sustainability Initiatives10 %

Investing in solar panels and energy efficiency.

Customers

Cibus Nordic Real Estate primarily serves large grocery retail chains across Europe. These customers seek stable, high-quality retail locations to anchor their operations. The company's tenants include major players like Kesko, Tokmanni, Coop, and Lidl, who value Cibus's strategic property locations and management expertise. By focusing on daily goods store chains, Cibus ensures a steady demand for its properties, driven by the essential nature of grocery retail.

Grocery Retail Chains

Lease properties for stable retail operations.

Sustainability-focused Tenants

Attracted by solar panel installations.

Strategy

Cibus Nordic Real Estate's strategic priorities include expanding its property portfolio in existing and new markets, enhancing sustainability through investments in solar panels, and maintaining strong relationships with major retail tenants. The company aims to increase its market presence in continental Europe while ensuring stable returns from its current assets. By focusing on grocery-anchored properties, Cibus seeks to provide consistent yield and capitalize on the essential nature of grocery retail.

Expand in Continental EuropeMedium term

To increase market presence and diversify portfolio.

Sustainability InvestmentsLong term

To enhance property value and attract eco-conscious tenants.

Geography

Cibus Nordic Real Estate operates primarily in Europe, with a significant presence in the Nordic countries. The company's headquarters are in Stockholm, Sweden. Cibus's geographic focus allows it to leverage regional expertise and relationships with major retail chains. The company is also exploring opportunities in continental Europe to expand its property portfolio and enhance its market presence.

Risks

Cibus Nordic Real Estate faces several risks, including market fluctuations in property values, interest rate changes affecting financing costs, and tenant concentration risk with major grocery chains. Additionally, geopolitical risks in Europe could impact property operations and tenant stability. The company must also manage sustainability risks associated with its solar panel investments and regulatory changes in energy efficiency standards.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Tenant Concentration1Market Fluctuations2Interest Rate Changes3
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Tenant ConcentrationImpact: HighLikelihood: Medium

    Dependence on major grocery chains for rental income.

  2. Market FluctuationsImpact: HighLikelihood: Low

    Affects property values and investment returns.

  3. Interest Rate ChangesImpact: MediumLikelihood: Low

    Increases financing costs and impacts profitability.

Accounting

Judgemental items
Valuation of Investment Properties

Significantly impacts reported asset values and profitability.

Interest Rate Derivatives

Affects financial results and risk management.

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026

Cibus Nordic Real Estate (XSTO) – Real Estate | Financial Analysis – Clarifo