Heima profit more than quadruples to ISK 4.6 billion
Thursday 27th August 2026 on 21:01 in
Iceland
Heima, a real estate company, posted a profit of 4.6 billion Icelandic krónur in the first six months of 2026, more than four times the 1.1 billion recorded in the same period last year, mbl.is reports.
The company’s operating revenue totalled 8.7 billion krónur, including 8.3 billion in rental income. Rental income rose 16.1% year on year, while real growth in rental income from the comparable property portfolio was 3.1%.
EBITDA reached 5.8 billion krónur, an increase of 14.6% from the same period last year. The valuation change on investment properties amounted to 7.7 billion krónur during the first half of the year.
Investment properties were valued at 243 billion krónur at the end of the period, while interest-bearing debt stood at 146 billion. The equity ratio was 32.1%.
Visitor numbers at Smáralind, a property owned by Heima, rose 27% in the second quarter compared with the same period last year. Turnover among its operators increased by 21%. In the first quarter, visitor numbers had risen 20% year on year and operator turnover had increased 18%.
During the second quarter, Silfursmári 12 was added to the portfolio. The property contains 2,700 square metres of office and retail space and is already fully leased.
Heima chief executive Halldór Benjamín Þorbergsson said the company’s operations remained stable and its income base was strong. The occupancy rate was 96%, while public bodies and registered companies accounted for 42% of rental income, he said.
Heima has updated its full-year guidance to reflect price levels and developments in rental income. Rental income for 2026 is now expected to range from 16.85 billion to 17.2 billion krónur, while EBITDA is forecast at between 12.05 billion and 12.4 billion.
The company signed 26 leases covering approximately 9,070 square metres during the second quarter. These included a new agreement with Rarik for 2,450 square metres at Dvergshöfði 4, as well as renewed agreements with Líf og List at Smáralind and BBA//Fjeldco at Katrínartún 2.