Netherlands' CTP H1 adjusted EPRA earnings rise 11%
Netherlands' CTP H1 adjusted EPRA earnings rise 11%
Overview
Netherlands industrial real estate developer's H1 net income fell 84% yr/yr to €100 mln
Company-specific adjusted EPRA earnings rose 11.2% yr/yr to €240.9 mln
Gross rental income up 12.6% yr/yr, driven by record leasing activity
Outlook
CTP reiterates 2026 adj EPRA EPS guidance of €1.01-€1.03, up 9%-11% vs 2025
Company expects to reach €1 bln annualised rental income in 2027
CTP guides 2026 leasing volume between 1.4 mln sqm and 1.7 mln sqm
Result Drivers
RECORD LEASING ACTIVITY - Co said H1 leasing volume rose 55% yr/yr to 1.6 mln sqm, supporting rental income growth
STRUCTURAL DEMAND TRENDS - Co cited nearshoring, supply chain professionalisation and sector diversification as drivers of strong occupier demand
RENT INDEXATION AND REVERSIONS - Co said like-for-like rental growth of 4.7% was driven by CPI-linked indexation and rent reversion on renegotiations and expiring leases
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Net Income |
| EUR 100 mln |
|
H1 Adjusted EPRA Earnings |
| EUR 240.90 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 1 "hold" and no "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 Ctp NV is €21.00, about 26.4% above its July 29 closing price of €16.62
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 14 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.)