Citycon Oyj
Sector unknown·CTY1S · Nasdaq Helsinki·Fiscal year to 31/12/2025
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Real estate
End markets
Market
“Financial performance: • Like-for-like net rental income in Q1–Q4/2025 increased 5.4%. • Total net rental income was EUR 209.2 million (Q1– Q4/2024: EUR 214.7 million). • EPRA Earnings was EUR 79.0 million (Q1–Q4/2024: EUR 91.9 million).”
Annual report 2025A · The company itself
Market
“• Q1–Q4/2025 average retail rent per sqm increased EUR 0.9 to EUR 27.7 (comparable FX). • Q4/2025 9.2% LFL occupancy cost ratio.”
Annual report 2025A · The company itself
Chains in: Interest rates weakens
Retail
End markets
Market
“The tenant mix of Citycon’s assets, consisting mainly of grocery and service-oriented tenants, is less reliant on consumer discretionary spending and the strategy has already demonstrated its strength and resilience throughout a variety of market conditions.”
Annual report 2025A · The company itself
Chains in: Consumer spending strengthens
Consumer spending
Macro
DriverNegative impact: weakens
“The tenant mix of Citycon’s assets, consisting mainly of grocery and service-oriented tenants, is less reliant on consumer discretionary spending and the strategy has already demonstrated its strength and resilience throughout a variety of market conditions.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“The most significant near-term risks and uncertainties in Citycon’s business operations are associated with the general development of the economy and consumer confidence in the Nordic countries and Estonia, and how this affects fair values, occupancy rates and rental levels of the shopping centres and, thereby, Citycon’s financial results.”
Annual report 2025A · The company itself
Chains in: Inflation weakens
Chains out: this strengthens Retail, strengthens Hospitality and leisure, strengthens Premium consumers, strengthens Grocery retail and private label
Inflation
Macro
DriverPositive impact: strengthens
“In addition, 95% of the Company’s leases are tied to indexation.”
Annual report 2025A · The company itself
DriverPositive impact: strengthens
“With comparable FX rates, average retail rent per sq.m increased by 0.9 EUR to EUR 27.7 in Q1–Q4/2025.”
Annual report 2025A · The company itself
Chains out: this weakens Consumer spending, strengthens Interest rates
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“The war in Ukraine continue to pose risks to economic health in Europe as well.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“The Nordic economies, like the rest of the global economy, are impacted by the uncertainty related mainly to politics and structural forces challenging the economies.”
Annual report 2025A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Interest rates
Macro
DriverNegative impact: weakens
“Rising interest rates could also put pressure on investment yields, which could potentially impact fair values.”
Annual report 2025A · The company itself
DriverNegative impact: weakens
“The period-end weighted average interest rate was 4,11%.”
Annual report 2025A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
Cement and building materials
Raw materials and inputs
InputNegative impact: weakens
“Costs of development projects could increase due to rising construction costs or projects could be delayed due to unforeseeable challenges.”
Annual report 2025A · The company itself
Chains in: Carbon tax and ETS prices weakens, Reconstruction of Ukraine strengthens
E-commerce
Technology
DriverNegative impact: weakens
“Increased competition locally or from e-commerce might affect demand for retail premises, which could lead to lower rental levels or increased vacancy, especially outside capital city regions.”
Annual report 2025A · The company itself
USD vs DKK/EUR
Macro
DriverMixed impact: mixed
“These estimates are based on comparable EUR–SEK and EUR–NOK exchange rates Divestments decreased total net rental income by EUR 18.4 million as per the table below, while Kista Galleria increased total net rental income by EUR 1.2 million.”
Annual report 2025A · The company itself
Chains out: this mixed effect United States
Nordics
Geography
Geography
“Like-for-like net rental income from the Finnish & Estonian operations increased by 7.7% in Q1–Q4/2025.”
Annual report 2025A · The company itself
Geography
“Like-for-like net rental income from Norwegian operations increased by 3.2%.”
Annual report 2025A · The company itself
Geography
“Like-for-like net rental income from the Swedish & Danish operations increased by 3.7%. sustainability-linked facility matures in October 2029 and it carries a one year extension option to October 2030.”
Annual report 2025A · The company itself
Denmark
Geography
Geography
“Like-for-like net rental income from the Finnish & Estonian operations increased by 7.7% in Q1–Q4/2025.”
Annual report 2025A · The company itself
Employment
Macro
DriverPositive impact: strengthens
“The common denominator for the Nordic countries is their strong financial position, thanks to high personal savings, strong public finances and robust job creation, which continue to persist.”
Annual report 2025A · The company itself
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 0.22 bn EUR |
| Revenue growth vs. the year before, same method | -5.2 % |
| EBITDA reported by the company | 0.23 bn EUR |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | 0.29 EUR |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✗ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (EUR), not converted to DKK. Quotes are shown as the company's own words in the report's original language.