NRE UP +4.1%
BROAD-BASED GROWTH ACROSS ALL INDICATORS
EPRA NTA UP +3.8% OVER 12 MONTHS
FULL-YEAR NRE and dividend GUIDANCE RAISED
The very strong performance in the first half of 2026 reflects the successful repositioning of the portfolio
around the Shop•Park model and excellent operational execution, in an otherwise volatile environment.
- NRE up +4.1% over 12 months to Euro 64.1 million, or Euro 0.69 per share[1] (+3.9%)
- EBITDA up +4.8%, with the margin expanding to 82.7% a 70bps improvement over 12 months
- Net rental income growth reaching +4.5%, driven by organic rental growth of +2.9%
Reversion of +2.3% and leasing dynamic taking over from an indexation at only +0.1%
- Market share gains with footfall up +4.5%, +370bp above the national panel
- Retailer sales growth of +2.3%, significantly outperforming the national benchmark
- Current financial vacancy held at 2.1% and retailer occupancy cost ratio limited to 11.1%
- Portfolio value up +4.6% over 12 months, with a stable yield rate of 6.63%
- EPRA NTA up +3.8% over 12 months to Euro 16.23 per share vs Euro 15.63 at end-June 2025
- Growth momentum sustained through the acquisition of a retail park in Toulouse
- Loan-to-value ratio of 41.9%[2], improving by 10bp year on year
[1] temporary increase in the average number of shares over the half-year due to the liquidity program
[2] including transfer taxes and real estate finance lease
