FEDNasdaq CopenhagenReal Estate ServicesIFRS · DKK

FAST EJENDOM DANMARK A/S

FAST EJENDOM DANMARK A/S is a Danish real estate company that owns and operates an investment property portfolio focused on rental income. Its business consists of letting properties, managing the underlying real estate, and selectively buying and selling properties within Denmark.

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Revenue113m DKK
+14.5 %y/y
Operating profit (EBIT)0.7m DKK
−99.4 %y/y
EBIT margin0.6%
−116.1 ppy/y
Net income94.1m DKK
+51.7 %y/y
Free cash flow-1.9m DKK
−115.4 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

0255075100125bn DKK2020: 64.9 bn DKK2020: EBIT 43.3 bn DKK20202021: 77.5 bn DKK2021: EBIT 119.8 bn DKK20212022: 0.08 bn DKK2022: EBIT 0.16 bn DKK20222023: 0.09 bn DKK2023: EBIT 0.08 bn DKK20232024: 0.10 bn DKK2024: EBIT 0.11 bn DKK20242025: 0.11 bn DKK2025: EBIT 0.00 bn DKK20250.110.00
RevenueOperating profit (EBIT)
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Business

Share of revenue
Rental income85 %

Leasing of investment properties to tenants under rental agreements.

Property operations5 %

Running costs and maintenance related to owned investment properties.

Property disposals10 %

Sales of investment properties and portfolio reduction activity.

Customers

The company serves tenants that lease space in its investment properties, generating recurring rental income. Because it is a property owner rather than a developer, its customer base is primarily leasing counterparties that value location, building quality, and stable occupancy. Property buyers are also relevant when assets are sold as part of portfolio management.

Property tenants

Tenants leasing space in the company's investment properties for ongoing occupancy.

Asset buyers

Investors or property owners buying properties that the company divests from the portfolio.

Local leasing market

Broader Danish leasing demand that supports occupancy and renewal conditions.

Strategy

The company is managing its property portfolio with a focus on disposals and continued rental execution. Recent disclosures indicate an emphasis on keeping occupancy stable while progressing with sales of investment properties. That approach reduces portfolio concentration and converts real estate assets into cash while the remaining portfolio continues to generate rental income.

Further property disposalsShort term

Selling assets is central to reducing and reshaping the portfolio.

Stable letting performanceShort term

Rental income remains the operating base of the business until assets are sold.

Geography

The business is centered in Denmark, where the company owns and manages its property portfolio. Its results depend on Danish leasing conditions, local maintenance costs, and the market for property transactions. Because the company has disclosed property sales in Jylland and on Funen, its asset base is tied to multiple Danish regions.

Risks

The key risks come from property market conditions, tenant demand, and execution of asset sales. Like other real estate owners, the company is exposed to interest rates, maintenance costs, vacancy risk, and valuation changes on investment properties. Portfolio reduction also creates execution risk if asset sales occur more slowly than planned or at less favorable prices.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Tenant demand and vacancy risk1Interest-rate and financing risk2Property valuation risk3Asset disposal 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. Tenant demand and vacancy riskImpact: HighLikelihood: Medium

    Rental income depends on keeping properties leased at satisfactory levels.

    Exposure: Investment property portfolio in Denmark

  2. Interest-rate and financing riskImpact: HighLikelihood: Medium

    Real estate companies are sensitive to borrowing costs and refinancing conditions.

    Exposure: Mortgage debt and property financing

  3. Property valuation riskImpact: HighLikelihood: Medium

    Investment property values can change with market yields and local demand.

    Exposure: Fair value of investment properties

  4. Asset disposal execution riskImpact: MediumLikelihood: Medium

    The company is pursuing further property sales, which depend on market liquidity and pricing.

    Exposure: Jylland and Funen property sales

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Accounting

Judgemental items
Fair value measurement of investment properties

Changes in property valuations can materially affect profit and equity.

Impact: Revaluation gains or losses

Rental income recognition

Lease income is the core recurring revenue stream and must be matched to lease periods.

Impact: Operating revenue comparability

Discontinued activities presentation

Property disposals may require reclassification and affect period comparability.

Impact: Continuing vs. discontinued profit

Borrowing cost recognition

Debt-related costs affect finance expenses and net result.

Impact: Net finance expense

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Last updated: 24/10/2026

FAST EJENDOM DANMARK A/S (FED) Revenue, Earnings & Financials 2025 – Clarifo