Luxembourg-based commercial real estate firm Aroundtown SA reported first-half 2026 results on Monday, showing flat net rental income at €591 million compared with the same period last year.
Funds from operations I declined 4% year-over-year to €144 million from €150 million, while adjusted EBITDA remained stable at €500 million. Like-for-like rental growth reached 2.7%, and profit for the period totaled €218 million. Basic and diluted earnings per share were €0.08.
The company increased its stake in Berlin-listed Grand City Properties to 84% from 62.5% through a voluntary exchange offer and subsequent market purchases. Aroundtown also completed €350 million in asset disposals during the first half at approximately book values.
Bond activity included €550 million in new issuances and €475 million in repayments in H1, following €1.6 billion raised and €2.3 billion repaid year-to-date. The loan-to-value ratio rose to 43% as of June 2026 from 41% at year-end 2025.
Aroundtown’s EPRA net tangible assets climbed 3% per share to €8.0 from €7.8 in December 2025, totaling €9.1 billion. The company paid its first dividend since 2022, distributing €0.08 per share on July 6, following shareholder approval at the annual meeting on June 24.
Management confirmed full-year 2026 guidance and noted that FFO I decline was primarily driven by higher finance expenses, partly offset by increased income from Grand City Properties and lower perpetual notes coupons.
