Nasdaq CopenhagenIFRS · DKK

COPENHAGEN CAPITAL A/S

Copenhagen Capital A/S is a Danish investment and real-estate holding company focused on owning, developing, and managing property assets in Denmark. Its activities center on creating value through active property management, development projects, and long-term ownership of real-estate investments.

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Revenue58.4m DKK
+17.7 %y/y
Operating profit (EBIT)40.0m DKK
+16.8 %y/y
EBIT margin68.6%
−0.6 ppy/y
Net income84.1m DKK
+1,054.1 %y/y
Free cash flow33.1m DKK
+100.1 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

0204060m DKK2021: 36 m DKK2021: EBIT 22 m DKK20212022: 43 m DKK2022: EBIT 28 m DKK20222023: 47 m DKK2023: EBIT 33 m DKK20232024: 50 m DKK2024: EBIT 34 m DKK20242025: 58 m DKK2025: EBIT 40 m DKK20255840
RevenueOperating profit (EBIT)
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Business

Share of revenue
Property ownership50 %

Direct ownership of income-producing real-estate assets held for long-term value and rental income.

Property management20 %

Management of owned properties, including tenant relations, maintenance, and leasing.

Property development20 %

Development and repositioning of real-estate assets to create long-term value.

Investment holdings10 %

Capital allocation into property-related investments and other real-estate assets.

Customers

The company primarily serves tenants and occupiers of its rental properties, who lease space for residential, commercial, or mixed-use purposes depending on the asset. It also interacts with counterparties involved in development and property transactions, including buyers, contractors, advisers, and financing providers. Demand is driven by the need for well-located, maintained real-estate assets and by investors seeking exposure to Danish property markets.

Property tenants

Lease space in the company's owned properties and value location, quality, and lease flexibility.

Occupiers and end users

Use the properties for residential or business purposes and need reliable building standards.

Property transaction counterparties

Buy, sell, or support property-related transactions and development projects.

Lenders and capital providers

Provide debt or financing backed by real-estate assets and cash flow.

Strategy

The company’s strategic logic is to preserve and grow value through disciplined property ownership, active asset management, and selective development. Its competitive position depends on maintaining attractive assets, optimizing occupancy and rental income, and executing development projects that improve long-term property value.

Active asset managementShort term

Improves occupancy, tenant quality, and cash generation from the property portfolio.

Property development and repositioningMedium term

Creates value by enhancing asset quality and adapting properties to market demand.

Capital disciplineLong term

Real-estate returns depend on financing structure, valuation, and prudent capital allocation.

Geography

Copenhagen Capital is based in Denmark and its business is centered on the Danish property market. The company’s operating exposure is therefore tied to local property demand, financing conditions, and asset values in Denmark, rather than broad international diversification.

Risks

The business is exposed to property-market cycles, including changes in rents, occupancy, and asset valuations. It also faces financing and interest-rate risk because real-estate ownership typically relies on debt and valuation-sensitive collateral, while development projects add execution and cost-overrun risk.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Property valuation volatility1Interest-rate and refinancing risk2Tenant demand and vacancy risk3Development execution risk4
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. Property valuation volatilityImpact: HighLikelihood: High

    Real-estate assets are marked by market assumptions and yield levels, so value can change materially.

    Exposure: Investment property portfolio

  2. Interest-rate and refinancing riskImpact: HighLikelihood: High

    Property businesses often use debt, and higher rates can reduce cash flow and asset values.

    Exposure: Mortgage and bank debt

  3. Tenant demand and vacancy riskImpact: HighLikelihood: Medium

    Rental income depends on occupancy, lease renewals, and market demand for the properties.

    Exposure: Rental properties

  4. Development execution riskImpact: MediumLikelihood: Medium

    Projects can be delayed, cost more than planned, or fail to achieve expected leasing outcomes.

    Exposure: Development pipeline

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Accounting

Judgemental items
Fair value of investment property

Property values are estimated using market-based assumptions, which can materially change reported assets and equity.

Impact: Changes in fair value flow through profit or loss and balance sheet values.

DCF valuation assumptions

The report references budget horizons, terminal value, discount rates, and inflation in property valuation.

Impact: Small assumption changes can move valuation gains or losses significantly.

Interest-bearing debt

The report references mortgage debt and weighted average interest rates, indicating sensitivity to financing costs.

Impact: Interest expense and covenant risk can affect cash flow and earnings.

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Last updated: 24/10/2026