Nextensa (NEXTA) H1 2026 earnings summary

Executive summary

• Net result group share for HY 2026 was €16.9M, down from €19.9M year-over-year, mainly due to lower rental income after disposals.

• Rental income decreased to €25.8M from €29.1M compared to HY 2025, reflecting asset sales.

• Major project sales and lettings in Luxembourg, including The Rock and Stairs office buildings, and B&B Hotels.

• Permit obtained for Lake Side at Tour & Taxis, with no appeals, enabling project execution.

• Divestment program progressing, including sale of Gewerbepark Stadlau for €35.45M.

Financial highlights

• Net result group share per share was €1.67 (HY 2026) vs €1.96 (HY 2025).

• Fair value of investment portfolio declined to €1.06B from €1.09B at year-end 2025.

• Rental yield at 6.00% as of 30/06/2026.

• Net financial debt reduced to €550.3M from €592.8M at year-end 2025.

• Financial debt ratio improved to 37.88% from 38.80%.

Outlook and guidance

• Rental income expected to remain lower in H2 2026 due to recent disposals, but will increase from 2027 as Proximus relocates to Tour & Taxis.

• Stronger balance sheet and robust liquidity with €205M undrawn credit facilities position the company for future project execution.

• Continued focus on ESG and climate-adaptive developments.

• Construction of new sustainable offices (Treemont, Montree) to start in late 2026 and 2027, with EIB Group contract for Treemont.