Ascencio (ASCE) H1 25/26 earnings summary

Executive summary

• Portfolio value reached €770 million across 100 properties in Belgium, France, and Spain as of 31/03/2026, driven by the acquisition of Horizon Provence retail park in France for €22.8 million.

• Focus remains on supermarkets and retail parks, with food retail accounting for 40% of rents.

• EPRA occupancy rate stood at 96.5%, reflecting strong tenant demand and successful reletting of units.

• 11 leasing transactions completed, with renegotiated rents exceeding estimated values by 9.1%.

Financial highlights

• Rental income rose to €27.2 million (+0.3% year-over-year), with like-for-like growth of +0.8%.

• EPRA earnings at €18.45 million, down 0.3% year-over-year; EPRA EPS at €2.80/share.

• Net result increased to €19.54 million from €18.68 million year-over-year, or €2.96 per share.

• Operating margin stable at 82.3%.

• Dividend maintained at €4.45/share, yielding 8.9%.

Outlook and guidance

• Continued focus on niche strategy in supermarkets and retail parks, with selective investments and cost control.

• Ongoing disciplined financial management and active market monitoring for value-creating acquisitions.

• Client-centric strategy to anticipate tenant needs.