Aroundtown's Q1 2026 Results Align with Projections Despite Reduced Profit

Aroundtown SA has reported its Q1 2026 results, which are consistent with their guidance. The company's net rental income increased by 1% year-over-year to €297 million, driven by a 3% like-for-like rental growth. Adjusted EBITDA remained stable at €250 million. However, FFO I decreased by 8% to €70 million, attributed to higher finance expenses. Despite reduced earnings, FFO I per share was maintained at €0.07 due to a share buyback program.

Net profit dropped to €119 million from €319 million in Q1 2025, as no property revaluations occurred this quarter. The company's EPRA NTA rose slightly to €8.3 billion, supported by share buybacks. Aroundtown's disposals amounted to €300 million year-to-date, targeting accretive growth opportunities.

The company's increased stake in Grand City Properties to 81.5% bolstered Aroundtown's position, leading to a raised absolute FFO I guidance for FY 2026. Proactive management of perpetual notes aims to optimize financial structures in the long term.