Austria's CA Immobilien H1 gross rental income falls 16% after property sales
Austria's CA Immobilien H1 gross rental income falls 16% after property sales
Overview
Austria real estate firm's H1 2026 gross rental income fell 16% yr/yr after property sales
Net rental income and EBITDA declined, recurring earnings (FFO I) down 12% yr/yr
Company completed major Berlin office project, expects recurring earnings above €90 mln for 2026
Outlook
CA Immo expects 2026 recurring earnings (FFO I) above €90m (€0.97 per share)
Company sees continued market challenges, including geopolitical tensions and inflation risks
CA Immo plans to expand its prime office portfolio in Berlin and Munich and continue non-core asset disposals
Result Drivers
PORTFOLIO SHRINKAGE - Co said rental income decline was mainly due to high-volume sales of non-core properties and reduced leasable area
OPERATING EFFICIENCY - Indirect expenses fell 11% due to changes in personnel expenses and increased operational efficiency
MARKET VALUE CORRECTION - Negative revaluation result driven by yield decompression in Germany affected portfolio valuations
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 FFO |
| EUR 55.6 mln |
|
H1 EBITDA |
| EUR 76.3 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for CA Immobilien Anlagen AG is €26.15, about 10.1% above its August 25 closing price of €23.75
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 16 three months ago
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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.)