Finland's Citycon Q1 net rental income rises on rent increase

Citycon Oyj

13/05/2026 22:01

Overview

Nordic retail real estate owner's Q1 like-for-like net rental income rose 4.5% yr/yr

EPRA earnings per share for Q1 declined slightly from prior year

Company completed EUR 270 mln loan and early redemption of 2026 notes in April

Outlook

Citycon expects like-for-like net rental income to grow in 2026, Outlook assumes no major changes in macroeconomic factors

Guidance is based on comparable EUR–SEK and EUR–NOK exchange rates

Result Drivers

RENT INCREASES & LEASING SPREADS - Like-for-like net rental income grew 4.5% in Q1, driven by index-linked rent increases and positive leasing spreads, according to CEO Eshel Pesti

GENERAL MALL LEASING INCOME - Growth in general mall leasing, including specialty leasing, energy and parking, contributed to Q1 performance, per CEO

COST EFFICIENCY - Administrative expenses were reduced by 17.5%, supporting operating margin, CEO said

Company press release: ID:nWkr3Kwq4q

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Rental Income
EUR 51.80 mln
Q1 Adjusted EPRA Earnings
EUR 27 mln
Q1 Adjusted EPRA Earnings Per Share
EUR 0.15
Q1 EPRA Earnings Per Share
EUR 0.10


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 1 "hold" and 1 "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 Citycon Oyj is €3.80, about 29.9% above its May 13 closing price of €2.93

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)