HAMBORNER REIT AG reports business figures for the first nine months of 2026 and raises operating earnings forecast

PRESS RELEASE

HAMBORNER REIT AG reports business figures for the first nine months of 2026 and raises operating earnings forecast

• Transaction-related decline in rental income of 0.9% to €67.3 million
• Positive like-for-like rental growth of 1.5% in the existing portfolio
• FFO at €34.5 million or €0.42 per share (-6.0%)
• Development of operational portfolio figures in line with expectations
• Solid financing structure with an EPRA loan-to-value ratio of 44.2%
• Rental income guidance refined and FFO guidance raised for 2026

BUSINESS DEVELOPMENT

Duisburg, 10 November 2026 – In a persistently challenging macroeconomic and industry-specific environment, HAMBORNER REIT AG’s operating business developed largely in line with expectations during the first nine months of the current financial year. Revenue and earnings performance primarily reflected the impact of property disposals, a higher cost level and increased financing costs.

Income from rents and leases amounted to €67.3 million in the first nine months, 0.9 % lower than in the same period of the previous year. The decline was primarily attributable to property disposals that took place in both the previous and current financial years. Contractually agreed index-linked rent adjustments provided a positive offset. On a like-for-like basis, rental income increased by €1.0 million, or 1.5%, compared with the same period last year.

Funds from Operations (FFO) declined by 6.0% compared with the previous year to €34.5 million. FFO per share amounted to €0.42, compared with €0.45 in the same period last year. In addition to lower rental income, higher financing costs and increased expenditure on property operations and maintenance weighed on earnings.

The company’s balance sheet and financing structure remained stable, even in the persistently challenging interest rate and property market environment. The REIT equity ratio stood at 55.2% as at 30 September 2026, compared with 54.7% at the end of 2025. The EPRA loan-to-value (LTV) ratio, at 44.2%, remained virtually unchanged from the level at the end of 2025 (44.3%).

PORTFOLIO DEVELOPMENT

Following the transfer of ownership in the first quarter of the retail property in Ditzingen – which had already been sold at the end of 2025 – ownership of the office property in Neu-Isenburg, sold as part of the company’s strategic portfolio realignment, was transferred on 1 September 2026.

With the completion of the transaction, HAMBORNER has taken the first step in the strategic development of its property portfolio and towards the targeted reduction of its office exposure. The disposal strengthens the financial flexibility for targeted reinvestment in high-yield retail properties with attractive cash flow profiles.

The market values of the property portfolio remained unchanged during the third quarter. As at 30 September 2026, the company’s portfolio comprised 62 properties with a total market value of around €1.3 billion. The net asset value (NAV) stood at €8.85 per share, compared with €9.07 at year-end 2025 and €8.72 at the end of the first half of 2026.

OPERATING BUSINESS DEVELOPMENT

Operating portfolio indicators remained in line with expectations during the reporting period. The weighted average lease term (WALT) stood at 5.0 years as at 30 September 2026. The EPRA vacancy rate slightly increased to 4.4%, but remained at a comparatively low level.

Letting activities continued to develop positively during the year. Since the beginning of the year, the company has signed lease agreements covering around 27,500 m², with successful lease renewals with office tenants in particular contributing to the high tenant retention rate of around 85%.

OUTLOOK

For the remainder of the year, the company expects business performance to remain largely in line with expectations despite the persistently challenging macroeconomic conditions.

Based on the business performance in the first nine months and an updated estimate of expenses and income, the company refined its revenue guidance and raised its FFO guidance for the full year 2026.

For the 2026 financial year, income from rents and leases is now expected to be between €88.5 million and €90.0 million. Previously, a range of €87.5 million to €89.5 million had been forecast.

FFO is expected to range between €42.0 million and €44.0 million, compared with the previous guidance of €38.0 million to €42.0 million. The increase is partly attributable to successful letting activities during the current financial year, which required lower expenditure on letting incentives, tenant fit-outs and maintenance measures than originally planned.

KEY FINANCIAL AND PORTFOLIO FIGURES AS OF 30 SEPTEMBER 2026

The full financial statement for the third quarter of 2026 is available for download in the Financial Reports section of the company's website. Further information on the key performance indicators is available in the glossary.

ABOUT HAMBORNER REIT AG

HAMBORNER REIT AG is a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around €1.3 billion. The portfolio focuses on attractive local supply properties such as large-scale retail assets, retail parks and DIY stores in city-centre locations, district centres and highly frequented edge-of-town sites in large and medium-sized German cities, as well as modern office properties in established locations.

HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainably attractive dividend strategy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.

CONTACT

Christoph Heitmann
Head of Capital Markets, Financing & Sustainability
T.: +49 (0)203 54405-32
M: info@ir.hamborner.de
W: www.hamborner.de

DISCLAIMER

This press release has been issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from HAMBORNER's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by HAMBORNER and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should therefore not be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. HAMBORNER accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. HAMBORNER does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. HAMBORNER is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.