Nasdaq StockholmIFRS · SEK

Iberian Yield Investment

Iberian Yield Investment AB is a Stockholm-based investment company focused on developing, owning, and managing residential real estate in Spain. Through its group structure, it participates in housing projects and long-term rental properties, with activity centered on Spanish urban markets.

Net income-50.0m SEK
+8.4 %y/y

Fiscal year 2025 · change from previous year

Development 2024–2025

-20-15-10-50m SEK2024: EBIT -19 m SEK20242025
RevenueOperating profit (EBIT)
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Business

Share of revenue
Property development45 %

Acquisition and development of residential projects and building rights in Spain.

Rental property ownership35 %

Long-term ownership and management of completed rental housing assets.

Project and portfolio management20 %

Active management of real estate investments and development pipeline.

Customers

The company’s end users are primarily residential tenants in Spanish rental housing projects, while its economic counterparties also include municipalities and public-sector bodies involved in housing tenders. Its investment and development model means value is created through leasing demand, project execution, and the ability to secure attractive sites and rights.

Residential tenants

Households renting completed apartments in the company’s Spanish housing projects.

Municipal and public-sector housing authorities

Public bodies involved in tenders, land allocation, and housing-related agreements.

Group and investment counterparties

Related entities and financing partners supporting project acquisition and development.

Strategy

The company’s strategy is to source and develop residential projects in Spain, then hold and manage selected assets for long-term rental income and portfolio value creation. It emphasizes active management, access to a pipeline of investment opportunities, and participation in projects with favorable risk-return characteristics.

Expand the Spanish residential development pipelineMedium term

A steady pipeline supports future project starts and portfolio growth.

Build and retain long-term rental housing assetsLong term

Ownership of completed rental units creates recurring housing exposure and portfolio value.

Use active project and portfolio managementShort term

Active oversight helps control execution risk and improve investment selection.

Geography

The company is headquartered in Stockholm but its operating focus is Spain, especially urban residential markets such as Málaga and Sevilla. Its business is tied to Spanish housing demand, local planning processes, and public policy affecting rental housing and development.

Risks

The main risks are political and regulatory changes affecting rental housing, along with macroeconomic weakness that can reduce demand and make project financing harder. As a real estate developer and landlord in Spain, the company is also exposed to planning, execution, and valuation risk across its project pipeline.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Macroeconomic and financing risk1Political and regulatory risk in rental housing2
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. Macroeconomic and financing riskImpact: HighLikelihood: Medium

    A downturn can reduce housing demand and make project funding more difficult.

    Exposure: Spanish real estate development

  2. Political and regulatory risk in rental housingImpact: HighLikelihood: Low

    Rules on taxation, subsidies, rent setting, and tenant protection can change project economics quickly.

    Exposure: Spanish rental housing market

  3. Project execution and approval riskImpact: Medium

    Development timelines depend on permits, construction progress, and tender conditions.

    Exposure: Málaga and Sevilla projects

Accounting

Judgemental items
K3 accounting for real estate development

Development costs, project progress, and asset classification affect when value is recognized.

Impact: Can materially affect reported assets and earnings timing

Property and project valuation

Carrying values depend on estimates of market value, project feasibility, and completion status.

Impact: Can change balance-sheet strength and impairment risk

Public grants and subsidies

The Sevilla project includes an EU Next Generation grant, which may affect project economics and accounting presentation.

Impact: Can influence project funding and reported income recognition

Publicly listed companies with a comparable business focus.

Last updated: 24/09/2026