Germany's Aroundtown H1 rental income steady, FFO I falls 4%

Aroundtown SA

26/08/2026 06:01

Overview
German commercial real estate firm's H1 net rental income and adjusted EBITDA remained stable yr/yr
FFO I fell 4% yr/yr, mainly due to higher finance expenses
Company increased GCP stake to 84% from 62.5%, and completed share buyback program

Outlook
Company confirms FY 2026 guidance
Aroundtown expects increased GCP stake to support higher FFO I base going forward
Company expects conversion and refurbishment pipeline to generate €55 mln rental upside until 2030

Result Drivers
LIKE-FOR-LIKE RENTAL GROWTH - Co said 2.7% like-for-like rental growth offset impact from net disposals, supporting stable net rental income
HIGHER FINANCE EXPENSES - Co said FFO I fell mainly due to higher finance expenses, partially offset by increased GCP stake and lower perpetual notes coupons

Company press release: ID:nEQ4Yq0bxa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Rental Income
 
EUR 591 mln
 
H1 Net Profit
 
EUR 218 mln
 
H1 Adjusted EBITDA
 
EUR 500 mln
 
H1 FFO I
 
EUR 144 mln
 
H1 Basic EPS
 
EUR 0.08
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 7 "hold" and 4 "sell" or "strong sell"
The average consensus recommendation for the real estate rental, development & operations peer group is "buy."
Wall Street's median 12-month price target for Aroundtown SA is €2.50, about 23.2% above its August 25 closing price of €2.03
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
Aug 26 - Aroundtown posts lower half-year profit as German property prices fall
Aug 25 - Lithuania's INVL Baltic Real Estate H1 revenue rises, aided by high occupancy
Aug 25 - Switzerland's EPIC Suisse H1 rental income rises on new property completions

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)