Nasdaq CopenhagenIFRS · DKK

Urban Partners A/S

Urban Partners A/S is a Danish alternative investment fund manager and investment platform based in Hellerup. The group invests through real estate and credit strategies, with a structure that includes managed funds, subsidiaries, and direct and indirect investment holdings.

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Revenue1,464m DKK
−6.7 %y/y
Operating profit (EBIT)143m DKK
+865.1 %y/y
EBIT margin9.7%
+10.9 ppy/y
Net income81.5m DKK
+229.7 %y/y
Free cash flow-24.4m DKK
−124.3 %y/y

Fiscal year 2025 · change from previous year

Development 2021–2025

-50005001,0001,5002,000m DKK2021: 631 m DKK2021: EBIT 68 m DKK20212022: 1,360 m DKK2022: EBIT 25 m DKK20222023: 1,402 m DKK2023: EBIT -415 m DKK20232024: 1,570 m DKK2024: EBIT -19 m DKK20242025: 1,464 m DKK2025: EBIT 143 m DKK20251,464143
RevenueOperating profit (EBIT)
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Business

Share of revenue
Real Estate Investments50 %

Direct and fund-based investments in real estate assets and related portfolios.

Credit Investments30 %

Private credit and lending strategies across managed vehicles and affiliates.

Fund Management15 %

Management of alternative investment funds, including administration and oversight.

Advisory and Portfolio Services5 %

Valuation, reporting, and portfolio oversight for investment structures.

Customers

Urban Partners serves investors who commit capital to alternative investment vehicles, including institutional and professional allocators. Its platforms are designed for investors seeking exposure to real estate and credit strategies, as well as for co-investment and managed portfolio structures.

Institutional investors

Pension funds, insurers, and similar allocators committing capital to real estate and credit funds.

Professional investors

Sophisticated investors seeking access to alternative asset strategies and managed mandates.

Co-investment partners

Partners that invest alongside Urban Partners in specific transactions or vehicles.

Fund limited partners

Investors in managed funds who rely on Urban Partners for sourcing, execution, and oversight.

Strategy

Urban Partners focuses on scaling and managing alternative investment platforms across real estate and credit. The annual report emphasizes portfolio monitoring, regulated valuation processes, and capital structure management to support fund operations and investor returns.

Expand managed alternative investment platformsMedium term

A broader platform increases assets under management and fee-earning opportunities.

Maintain rigorous valuation and governanceShort term

Frequent valuation and monitoring are central to investor confidence and fund reporting.

Preserve financing flexibilityShort term

The business uses external financing and must manage refinancing and liquidity risk across vehicles.

Geography

Urban Partners is headquartered in Denmark and operates as a Nordic-based investment platform. The filing references multi-country banking, foreign exchange exposure, and international investment activity, indicating that its portfolios and counterparties are not limited to Denmark.

Risks

Urban Partners is exposed to valuation risk, financing risk, and foreign exchange and interest-rate volatility because it holds financial instruments and investment assets across multiple vehicles and jurisdictions. As an alternative investment manager, its reported results can also be affected by judgment-heavy fair value estimates, goodwill impairment testing, and the performance of underlying portfolio assets.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Fair value volatility1Impairment risk2Interest-rate risk3Foreign exchange 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. Fair value volatilityImpact: HighLikelihood: High

    Other investments are measured at fair value through profit or loss, so portfolio price changes flow into earnings.

    ExposureManaged fundsDirect investmentsFinancial instruments
  2. Impairment riskImpact: HighLikelihood: Medium

    Goodwill and intangible assets must be tested for impairment using forecast cash flows and discount rates.

    Exposure: Goodwill and acquired intangibles

  3. Interest-rate riskImpact: MediumLikelihood: High

    The group has floating-rate interest-bearing liabilities, so higher rates increase financing costs.

    Exposure: External financing and working capital facility

  4. Foreign exchange riskImpact: MediumLikelihood: Medium

    Cross-border assets, liabilities, and cash flows expose the group to currency translation effects.

    Exposure: International fund and portfolio activity

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Accounting

Judgemental items
Fair value measurement

Other investments are carried at fair value, so valuation changes directly affect profit or loss.

Impact: Key driver of earnings volatility and balance sheet carrying values

Goodwill and intangible impairment

The group tests goodwill and certain intangibles annually using discounted cash flow assumptions.

Impact: Can create significant non-cash write-downs

Deferred tax assets

Recognition depends on the probability of future taxable profits within several years.

Impact: Affects balance sheet tax assets and effective tax rate

IFRS 16 leases

Right-of-use assets and lease liabilities reflect office and contract commitments.

Impact: Affects operating expenses, depreciation, and leverage presentation

Share-based payments

Warrants issued to partners and employees are equity-settled and recognized over vesting.

Impact: Affects personnel expense and equity reserves

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Last updated: 24/10/2026

Urban Partners A/S Revenue, Earnings & Financials 2025 – Clarifo