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RomReal Ltd. Interim / Quarterly Report 2025
8160_rns_2026-02-27_081c0c42-b0ee-454e-aeb8-86f659e3fdfd.pdf
Interim / Quarterly Report
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Q4
RomReal Limited
Fourth Quarter 2025 Report
27 February 2026
romreal
RomReal is a Company focusing on the Romanian Real Estate market. The Company owns premium properties in the Constanta region.
romreal
Highlights Fourth Quarter 2025
Net Asset Value (NAV)
- Net Asset value was EUR 0.39 (NOK 4.65, before any tax) per share, up 7.5% from Q3 2025. EUR/NOK was 11.82 end of Q4 2025 versus 11.74 by the end of 3Q 2025.
Operational highlights
- During 4Q 2025 the company sold two plots on Oasis.
- During 4Q 2025 the company sold two apartments from total eight apartments sold in Oasis.
- During 4Q 2025 the company signed a presale agreement for another one apartment in Oasis, due date for the final contract July 2026.
- Total infrastructure investments during 2025 were EUR 0.44m, mainly related to Oasis.
Financial Results
- Net Result for the quarter was a gain of EUR 1,139,000, compared to a loss of EUR 1,540,000 in 4Q 2024. Net change in cash flow for the quarter was a positive EUR 345,000 compared to negative of EUR 260,000 in the same period last year. This was mainly due to sale of plots and capitalized expenses related to infrastructure.
- At the end of the quarter, the Company had a cash position of EUR 6.0 million and EUR 0.5m unsettled receivables related to binding sales agreements, totalling EUR 6.5m, or about EUR 0.16 per share. The outstanding seller financing agreements are followed up with extra attention.
Macro and real estate market highlights
- The National Bank of Romania policymakers decided to keep the key rate at 6.50% on 17 February 2026.
- The central bank also notes that the annual inflation rate entered a mildly downward path at the beginning of 2025 Q4, falling to 9.69 percent in December from 9.88 percent in September, under the impact of the significant declines in the dynamics of fuel and VFE prices during this period. In January 2026, the annual inflation rate again fell marginally to 9.62 percent.
- Following the May 2025 election, the Government first fiscal package with both spending cuts and tax increases is starting to bite. Further tightening packages are in the process. As an example, the Constitutional Court on 18th February 2026 ruled that a new law gradually extending the retirement age to 65 years (was 49 years) and reducing pension as a percent of salary for magistrates was lawful.
- Romania's GDP contracted by 1.9 percent in 4Q 25 (quarter on quarter) reducing the annual growth to 0.6 percent. The 1.9 percent q/q contraction was the sharpest since 2012, excluding during the pandemic. The 3Q quarterly drop was 0.2 percent according to the National Institute of Statistics.
- Asking prices for apartments and houses in Romania increased in the 4th quarter of 2025 compared to Third quarter of 2025 (EUR 1,909/m2) to EUR 1,965/m2 at the end of 4Q 2025 and EUR 1,974/m2 at the end of January 2026. In Constanta, average prices increased by 1.36% during the Fourth quarter of 2025 (EUR 1,943/m2 at the end
RomReal Limited Fourth quarter 2025
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of December 2025 compared to EUR 1,917/m2 at the end of September 2025), according to www.imobiliare.ro index.
Key Financial Figures
| EUR '000 | Q4 2025 | Q4 2024 |
|---|---|---|
| Operating Revenue | 438 | 281 |
| Operating Expenses | (1,639) | 1,492 |
| Other operating income/ (expense), net | (681) | (408) |
| Net financial income/(cost) | 29 | 63 |
| Pre-tax result | 1,425 | (1,556) |
| Result for the period | 1,139 | (1,540) |
| Total assets | 16,787 | 15,216 |
| Total liabilities | 927 | 525 |
| Total equity | 15,860 | 14,692 |
| Equity % | 94.5% | 96.6% |
| NAV per share (EUR) | 0.39 | 0.36 |
| Cash position | 5,987 | 3,255 |
| Short term bank deposits | - | 603 |
Movement in Net Asset Value
The Net Asset Value (NAV) increased to EUR 16,231,000 at the end of Q4 2025 compared to EUR 14,756,000 at the end of Q3 2025.
| Asset base | Q4 2025 | Q3 2025 | ||||
|---|---|---|---|---|---|---|
| EUR '000 | EUR/ share | NOK/share | EUR '000 | EUR/ share | NOK/share | |
| Investment property | 2,377 | 0.06 | 0.70 | 2,607 | 0.06 | 0.76 |
| Assets held for sale | 0 | 0.00 | 0.00 | 0 | 0.00 | 0.00 |
| Inventories | 8,062 | 0.20 | 2.36 | 6,515 | 0.16 | 1.90 |
| Cash | 5,987 | 0.15 | 1.75 | 5,642 | 0.14 | 1.64 |
| Other assets/(liabilities) | (566) | (0.01) | (0.17) | (8) | (0.00) | 0.00 |
| Net asset value | 15,860 | 14,756 | ||||
| NAV/Share | 0.39 | 4.65 | 0.37 | 4.30 | ||
| Change in NAV vs previous quarter | 7.5% | 0.1% |
The average number shares used in the NAV calculation above is 40,335,322, shares and unchanged from Q3 2025 (deducted for own shares).
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Valuation of Properties
The end of year 2025 independent valuation of the Company's property was executed by Colliers Romania. The property portfolio was evaluated in accordance with the ANEVAR Valuation Standards 2013, which include the International Valuation Standards, issued by the IVSC in 2011. The valuation also complies with the International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB); and it is performed in accordance with the RICS Valuation Standards, 8th edition. A new external valuation is scheduled to take place during December 2026.
| EUR '000 | Y/E 2020 | Y/E 2021 | Y/E 2022 | Y/E 2023 | Y/E 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Property value | 13,420 | 13,192 | 10,118 | 9,702 | 9,309 | 9,487 | 9,463 | 9,122 | 10,439 |
| NAV | 15,035 | 16,826 | 16,230 | 16,931 | 14,692 | 14,427 | 14,744 | 14,756 | 15,860 |
| Market cap | 8,687 | 7,860 | 6,826 | 7,570 | 10,326 | 10,568 | 9,358 | 10,041 | 10,886 |
| Market cap/NAV | 58% | 47% | 42% | 45% | 70% | 73% | 63% | 68% | 69% |
Property value / NAV / Market cap (EUR '000)
Cash Flow
| EUR '000 | Q4 2025 | Q4 2024 |
|---|---|---|
| Net cash flow from operating activities | (164) | (355) |
| Net cash flow used in investing activities | 509 | 95 |
| Net cash flows from financing activities | - | - |
| Net cash change during period | 345 | (260) |
Operating cash flow for Q4 2025 was positive EUR 345,000 compared to a negative EUR 260,000 in the same quarter last year. The net positive change is mainly explained by the cash collected from sale of plots and capitalized expenses made during the quarter. The net cash from investing activities includes the collections made in respect of the sold plots.
Market Facts – Macro-Politics
The National Bank of Romania policymakers decided to keep the key rate at 6.50% on 17 February. The NBR's decision took into account inflationary pressures, political risk and the ongoing fiscal policy uncertainty.
Romania's GDP contracted by 1.9 percent in 4Q 25 (quarter on quarter) reducing the annual growth to 0.6 percent. This is flash GDP data and breakdowns are not available yet, but both private consumption and private investments were probably the main contributors to the drop. The 1.9 percent q/q contraction was the sharpest since 2012, excluding during the pandemic. The 3Q quarterly drop was 0.2 percent according to the National Institute of Statistics. With the two last quarters in negative territory, Romania entered into a "Technical recession". Because of the negative carryover effect, most forecaster's are reducing their 2026 GDP forecast to about 1 percent. 2026 should be a solid year for EU fund inflows, with strong public investment.
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The central bank notes that the annual inflation rate entered a mildly downward path at the beginning of Q4.2025, falling to 9.69 percent in December from 9.88 percent in September, under the impact of the significant declines in the dynamics of fuel and VFE prices during this period. In January 2026, the annual inflation rate again fell marginally to 9.62 percent.
Real Estate market facts
The transaction market:
Based on data from Colliers 2025 market report of February 2025, the investment market volume was EUR 525m, versus EUR 750m in 2024. This is a decrease of about 30% from 2024 and well below the last five average of EUR 848m. According to Colliers, the largest transactions in 2025 was the Mas Rei retail portfolio around EUR 58m and the Equilibrium 1 office building for EUR 52m. Yields have been relatively stable in 2025, and Colliers see prime retail shopping centres at 7.25%, prime offices at 7.5% and the prime industrial assets at 7.75%, all more or less unchanged from 2024.
The retail market:
According to Colliers, some 184,700m2 was added in 2025, up from 169,900m2 in 2024. The yearly average of the last 5 years is about 144,000m2. The projected additions for 2026 is about 231,500m2. The biggest addition was Mall Moldova with 58,900m2.
The industrial and logistics market:
Based on data from Colliers 2025 market report, the gross take-up in 2025 was 990,400, versus 618,200 m2 in 2024. With the 2025 additions, the total stock is about 8,000,000m2. The average gross-take up in the last 5 years has been 761,400 m2. About half of the 2025 volumes derived from the Bucharest region including the three largest additions. Rents have stabilised during 2025 in the range EUR 5 per m2 in the Bucharest region. Vacancy remains low and about 5% according to Colliers.
The residential market:
According to Colliers, the residential supply continued to pull back in 2025 and reached about 58,000 new units, a reduction of about 5 percent from 2024. This is the lowest level since 2017. Asking prices for apartments and houses in Romania increased in the 4th quarter of 2025 compared to Third quarter of 2025 (EUR 1,909/m2) to EUR 1,965/m2 at the end of 4Q 2025 and EUR 1,974/m2 at the end of January 2026. In Constanta, average prices increased by 1.36% during the Fourth quarter of 2025 (EUR 1,943/m2 at the end of December 2025 compared to EUR 1,917/m2 at the end of September 2025), according to www.imobiliare.ro index.
Operational Overview
Lakeside (No.1 on the table) – The final transfer of the agreed land (promenade area), about 700m2 took place at the end of 2025 and therefore the Lake Side project is closed, and no more property is available for sale. There is a minor on-going dispute with the Road Administration Authorities.
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Oasis (No. 2 on the table) - Common areas like a playground, a minor marina and a social area (inside/outside) is expected to be completed before the end Q3 2026. The sales and marketing/advertising activities is going on, and so far, nine apartments and two plots of land are sold. On the second apartment structure, vital external works like hydro isolation is finished. Interior works will not start before a satisfactory sales progress is realised in the first apartment block. The lakeview on the second apartment structure is better than on the first structure.
Industrial Park (No. 3 on the table) – The development activity in the neighbourhood is expanding including various NATO/Romanian defence projects. The works to renew the infrastructure building permit is expected before the end of the Q2 2026. The Company has finalised the work of electricity including a transformer inside the plot during 4th quarter 2025. The Company is experiencing a steady number of enquires by potential buyers of plots on the land and digging and other visual activities on the land should result in more decisive progress in certain negotiations. This work is expected to commence during summer 2026. There is also an on-going dispute with the Road Administration Authorities on this project.
Balada Market (No. 5 on the table) – The project is for sale and some enquiries are ongoing. The Company has completed the works for a new PUZ application and initial feedback has been received and the architects are responding to the local building authorities in the municipality of Constanta. Meantime, there are regular meetings with potential buyers.
Ovidiu Residence 3 (No. 4 in the table, 7,100 sqm) – The project is for sale.
The Property Portfolio
The Company's land bank consists at the end of December 2025 of 4 plots with a total size of 144,811 m2:
| Plot name | Location | Size (m2) |
|---|---|---|
| 1 Ovidiu (Oasis) | Constanta North/Ovidiu | 20,407 |
| 2 Centrepoint | Constanta North/Ovidiu | 110,116 |
| 3 Ovidiu Residence 3 | Constanta North/Ovidiu | 7,100 |
| 4 Balada Market | Central Constanta | 7,188 |
| Total | 144,811 |
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Shareholder Information
Updated list from 20 February 2026.
| Rank | Name | Holding | Ownership |
|---|---|---|---|
| 1 | SIX SIS AG | 10,335,747 | 24.98% |
| 2 | GRØNSKAG, KJETIL | 6,023,006 | 14.56% |
| 3 | THORKILDSEN, WENCHE | 5,392,985 | 13.04% |
| 4 | SAGA EIENDOM AS | 3,386,636 | 8.19% |
| 5 | AUSTBØ, EDVIN | 2,108,500 | 5.10% |
| 6 | Danske Bank A/S | 1,738,392 | 4.20% |
| 7 | GRØNLAND, STEINAR | 1,659,867 | 4.01% |
| 8 | Kvaal Invest | 1,307,300 | 3.16% |
| 9 | Orakel as | 1,101,000 | 2.66% |
| 10 | Energi Invest as | 1,100,000 | 2.66% |
| 11 | RomReal Ltd | 1,032,461 | 2.50% |
| 12 | Spar Kapital Investor as | 940,236 | 2.27% |
| 13 | THORKILDSEN INVEST AS | 829,478 | 2.01% |
| 14 | Arild Persson | 722,912 | 1.75% |
| 15 | Anders Hoen | 689,557 | 1.67% |
| 16 | AKSEL MAGDAHL | 379,573 | 0.97% |
| 17 | Citibank | 220,000 | 0.53% |
| 18 | Jo Egil Aalerud | 166,864 | 0.40% |
| 19 | Eurotrade AS | 161,952 | 0.39% |
| 20 | Nordnet Bank | 141,318 | 0.34% |
| TOP 20 | 39,437,784 | 95.39% |
The total issued number of shares at the end Q4 2025 was 41,367,783.
(13) Thorkildsen Invest AS is a Company controlled by the Kay Thorkildsen family.
(2) Chairman Kjetil Grønskag owns directly and indirectly 6,023,006 shares corresponding to 14.56%.
The above list is the 20 largest shareholders according to the Euronext VPS print out; please note that shareholders might use different accounts and account names, adding to their total holding.
(11) RomReal owns 2.50% of its own shares.
RomReal Limited Fourth quarter 2025
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Outlook
The Board believe the CPI has peaked, and we will gradually start to see reduced inflation during 2026. On 18 February 2018, the Romanian Central bank adjusted their 2026 and 2027 CPI prognosis to 3.9 percent and 2.7 percent, respectively. This should gradually result in increased activity within the real-estate space including the residential market. The main risk is the domestic political stability, is the Government coalition able to keep together?
INFORMATION ON FINANCIAL CONDITION AND OPERATING RESULTS
Accounting Principles
The condensed consolidated interim financial statements for the Fourth quarter of 2025, which have been prepared in accordance with IFRS as adopted by EU and IAS 34 Interim Financial Reporting, give a true and fair view of the Company's consolidated assets, liabilities, financial position and results of operations. The accounting policies applied in the preparation of the quarterly result are consistent with the principles applied in the financial statements for the year to 31 December 2024. The financial statements have been prepared on a going concern basis.
To information presented in the interim report for the Fourth quarter of 2025 includes a fair review of important events that have occurred during the period and their impact on the condensed financial statements, the principal risks and uncertainties for the remaining of 2025, and major related party transactions.
Comparative data for Q4 2025 and Q4 2024
The interpretations below refer to comparable financial information for Q4 2025 and Q4 2024. They are prepared for RomReal on a consolidated basis and use consistent accounting policies and treatments.
Operating Revenue
The operating revenue during Q4 2025 was EUR 438,000 compared to a total of EUR 281,000 reported in Q4 2024. This consists of the revenue resulting mainly from the disposals made during the quarter as well as the rent earned by the Company in respect of some of the plots.
Operating Expenses
Total operating expenses amounted to a positive EUR 1,639,000 in Q4 2025 compared to a total negative EUR 1,492,000 in Q4 2024. The main elements of cost relate to the administrative expenses (EUR 229,000) and the payroll costs (EUR 102,000). The unrealised gain in respect of the inventories portfolio was EUR 1,986,000.
Other operating income/ (expense), net
The other operating income/ (expense) during the quarter was a loss of EUR 681,000, compared to a loss of EUR 408,000 during the same period of the previous year. The vast part of the total amount is represented by the cost of the disposed assets.
Profit/ (loss) from operations
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During Q4 2025, RomReal generated an operating gain of EUR 1,396,000, compared to a loss of EUR 1,619,000 in Q4 2024.
Financial Income and expense
Financial result for Q4 2025 was a net gain of EUR 29,000 compared to a net financial gain of EUR 63,000 in Q4 2024. During the quarter the RON lost 0.34% compared to EUR.
The Company's policy is to hedge these effects by retaining most of its cash in Lei, receiving negotiated interest from the bank and by denominating all receivables in Euros. Although not reflected from an accounting perspective, practice in real-estate is that transactions are denominated in EUR and payments made at the exchange rate ruling at the date of payment, hence reducing the risk of cash losses due to exchange rate movements.
Result before tax
The result before tax in Q4 2025 was a gain of EUR 1,425,000 compared to a loss before tax of EUR 1,556,000 in Q4 2024.
Cash and cash equivalents
The Company's cash and cash equivalents position at end of Q4 2025 was EUR 5,987,000 compared to EUR 3,858,000 as at end of Q4 2024.
RomReal portfolio / sale transactions to be completed in 2026 - 2027.
| Nomreal portfolio / sale transactions to be completed in 2026-2027 | ||||||
|---|---|---|---|---|---|---|
| No | Plot name | Location | Agreed sale value (EUR) | Installments [email protected] | To cash 2026 | To cash 2027 |
| 1 | Ovidiu 5 ha plot 40.054 sqm | Ovidiu Constanta | 2,958,480.00 | 2,835,969.91 | 122,510.09 | |
| 2 | Ovidiu Oasis plot Cocorilor 2 | Ovidiu Constanta | 125,000.00 | 125,000.00 | ||
| 3 | Ovidiu Oasis plot Cocorilor 4 | Ovidiu Constanta | 125,000.00 | 125,000.00 | ||
| 4 | Ovidiu Ind park 15.534 sqm Promissory | Ovidiu Constanta | 554,190.00 | 432,960.98 | 121,229.02 | |
| 5 | Ovidius Oasis block J ap.3 | Ovidiu Constanta | 114,495.80 | 97,488.61 | 17,007.20 | |
| 6 | Ovidiu Oasis block J ap.18 | Ovidiu Constanta | 100,000.00 | 60,491.55 | 39,508.45 | |
| 7 | Ovidiu Oasis block J ap.22 | Ovidiu Constanta | 90,000.00 | 86,789.74 | 3,210.26 | |
| 8 | Ovidiu Oasis block J ap.28 | Ovidiu Constanta | 86,776.86 | 66,115.70 | 20,661.16 | |
| 9 | Ovidiu Oasis plot 33,34 | Ovidiu Constanta | 79,504.13 | 57,810.20 | 11,363.63 | 10,330.56 |
| 10 | Ovidiu Oasis block J ap.33 Promissory | Ovidiu Constanta | 120,000.00 | 4,132.23 | 115,867.77 | |
| Total | 4,353,447 | 3,891,759 | 451,358 | 10,331 |
Taxation
The Company is required to calculate its current income tax at a flat rate of 16%. Starting 2024 all Group companies are subject to 16% tax on taxable profits.
The Company accounts for deferred tax on all movements in the fair values of its investment properties at a flat rate of 16%. Any change in the deferred tax liability or change in the deferred tax asset is reflected as an element of income tax in the profit and loss statement. The Company recognises deferred tax asset for the amount of carried forward unused tax losses to the extent that it is probable that future taxable profits will be available against which the unused tax losses can be utilised.
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CONSOLIDATED INCOME STATEMENT (UNAUDITED)
Figures in thousand EUR
| Q4 2025 | Q4 2024 | YTD 2025 | YTD 2024 | |
|---|---|---|---|---|
| Rent revenue | 69 | 87 | 268 | 276 |
| Revenue from sale of assets | 369 | 194 | 2,035 | 1,766 |
| Operating revenue | 438 | 281 | 2,303 | 2,042 |
| Payroll expenses | (102) | (88) | (362) | (351) |
| Management fees | (16) | (27) | (104) | (119) |
| Inventory (write off)/reversal | 1,986 | (1,183) | 2,114 | (1,182) |
| General and administrative expenses | (229) | (194) | (944) | (752) |
| Operating expenses | 1,639 | (1,492) | 704 | (2,404) |
| Profit/(loss) before other operating items | 2,077 | (1,211) | 3,007 | (362) |
| Other operating income/(expense), net | (681) | (408) | (1,259) | (1,402) |
| Profit from operations | 1,396 | (1,619) | 1,749 | (1,764) |
| Financial income | 35 | 61 | 172 | 276 |
| Financial costs | - | 0 | 0 | 0 |
| Foreign exchange, net | (5) | 2 | 22 | 21 |
| Result before tax | 1,425 | (1,556) | 1,943 | (1,467) |
| Tax expense | (286) | 16 | (450) | (227) |
| Result of the period | 1,139 | (1,540) | 1,493 | (1,694) |
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CONSOLIDATED BALANCE SHEET
Figures in thousand EUR
| ASSETS | Dec 31, 2025 | Dec 31, 2024 |
|---|---|---|
| Non-current assets | ||
| Investment properties | 2,377 | 2,607 |
| Property, plant and equipment | 47 | 44 |
| Non-current trade receivables | 10 | 200 |
| Deferred tax asset | - | - |
| Total non current assets | 2,435 | 2,852 |
| Current assets | ||
| Inventories | 8,062 | 6,701 |
| Short term investments | - | 603 |
| Other short term receivables | 304 | 1,805 |
| Cash and cash equivalents | 5,987 | 3,255 |
| Total current assets | 14,352 | 12,365 |
| Assets held for sale | - | - |
| TOTAL ASSETS | 16,787 | 15,216 |
| EQUITY AND LIABILITIES | Dec 31, 2025 | Dec 31, 2024 |
| --- | --- | --- |
| Equity | ||
| Share capital | 103 | 103 |
| Contributed surplus | 87,117 | 87,117 |
| Treasury shares | (186) | (186) |
| Other reserves | 160 | 160 |
| Retained earnings | (75,961) | (74,268) |
| Result of current period | 1,493 | (1,694) |
| FX reserve | 3,133 | 3,458 |
| Total equity | 15,860 | 14,692 |
| Non current liabilities | ||
| Deferred income tax | 426 | 122 |
| Total non current liabilities | 426 | 122 |
| Current Liabilities | ||
| Other payables | 501 | 403 |
| Contract liabilities | - | - |
| Tax payable | 0 | 0 |
| Total current liabilities | 501 | 403 |
| TOTAL EQUITY AND LIABILITIES | 16,787 | 15,216 |
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STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)
Figures in thousand EUR
| Dec 31, 2025 | Dec 31, 2024 | |
|---|---|---|
| Profit for the year | 1,493 | (1,694) |
| Other comprehensive income | ||
| Exchange differences on translation of foreign operations | (325) | -65 |
| Other comprehensive income for the year, net of tax | (325) | (65) |
| Total comprehensive income for the year, net of tax | 1,168 | (1,759) |
CASH FLOW STATEMENT (UNAUDITED)
Figures in thousand EUR
| Dec 31, 2025 | Dec 31, 2024 | |
|---|---|---|
| Net cash flow from operating activities | (1,064) | (1,804) |
| Net cash flow from investing activities | 3,795 | 1,579 |
| Net cash flows from financing activities | - | - |
| Net cash change during period | 2,732 | (225) |
| Cash at beginning of period | 3,255 | 3,480 |
| Cash and cash equivalents at end of the period | 5,987 | 3,255 |
STATEMENT OF CHANGES IN EQUITY (UNAUDITED)
Figures in thousand EUR
| Dec 31, 2025 | Dec 31, 2024 | |
|---|---|---|
| Equity at the beginning of the period | 14,692 | 16,931 |
| Result for the period | 1,493 | (1,694) |
| Other changes | (325) | (546) |
| Equity at the end of the period | 15,860 | 14,692 |
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Responsibility Statement
We confirm that, to the best of our knowledge, the condensed consolidated interim financial statements for the Fourth quarter of 2025, which have been prepared in accordance with IFRS as adopted by EU and IAS 34 Interim Financial Reporting, give a true and fair view of the Company's consolidated assets, liabilities, financial position, and results of operations. To the best of our knowledge, the interim report for the Fourth quarter of 2025 includes a fair review of important events that have occurred during the period and their impact on the condensed financial statements, the principal risks and uncertainties for the remaining period of 2025, and major related party transactions.
27 February 2026
The Board of Directors RomReal Limited Hamilton, Bermuda:
Kjetil Grønskag (Chairman & CEO), Bendt Thorkildsen (Director) and Heidi Sørensen Austbø (Director).
Questions should be directed to: Kjetil Grønskag: Chairman & CEO, +44 776 775 4119
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CONTACT INFORMATION
RomReal Limited
Postal address: 22 Queen street, Hamilton HM11, Bermuda Telephone: Tel- +1-441-293-6268
Fax +1-441-296-3048 | www.RomReal.com
Visiting address: 54 Cuza Voda street, Constanța, Romania
Tel: +40-241-551488 Fax: +40-241-551322
IR
Kjetil Gronskag
+44 776 775 4119 | [email protected]
For further information on RomReal, including presentation material relating to this interim report and financial information, please visit www.RomReal.com.
DISCLAIMER
The information included in this Report contains certain forward-looking statements that address activities, events or developments that RomReal Limited ("the Company") expects, projects, believes or anticipates will or may occur in the future. These statements are based on various assumptions made by the Company, which are beyond its control and are subject to certain additional risks and uncertainties. The Company is subject to a large number of risk factors including but not limited to economic and market conditions in the geographic areas and markets in which RomReal is or will be operating, counterparty risk, interest rates, access to financing, fluctuations in currency exchange rates, and changes in governmental regulations. For a further description of other relevant risk factors, we refer to RomReal's Annual Report for 2024. As a result of these and other risk factors, actual events and our actual results may differ materially from those indicated in or implied by such forward-looking statements. The reservation is also made that inaccuracies or mistakes may occur in the information given above about current status of the Company or its business. Any reliance on the information above is at the risk of the reader, and RomReal disclaims any and all liability in this respect.
RomReal Limited Fourth quarter 2025