Peach Property Group (PEAN) H1 2026 earnings summary

Executive summary

• Achieved strong operational and financial progress in H1 2026, with like-for-like net rental income in the Strategic Portfolio up 5.1% year-over-year to EUR 42.4 million and vacancy reduced to 3.3%.

• Adjusted EBITDA increased 25% to EUR 29.9 million, with operating profit (EBIT) at EUR 29.0 million and group loss narrowing to EUR 3.6 million.

• Strategic focus sharpened by disposing of non-strategic assets, with portfolio sales and asset disposals supporting liquidity and deleveraging.

• Organizational restructuring, including relocation of Swiss functions to Germany, is complete.

• Sustainability initiatives advanced, with a CDP B/B- rating, EPRA Gold Award, and greenhouse gas intensity below the 2030 target.

Financial highlights

• Rental income for H1 2026 was EUR 53.2 million, with net cold rent in the strategic portfolio up 3.2% to EUR 6.68/sqm.

• Adjusted EBITDA rose 25% year-over-year to EUR 29.9 million; FFO stable at EUR 8.9 million.

• NOI margin in the strategic portfolio improved to 75%.

• EPRA NTA per share at EUR 18.49 as of June 30, 2026.

• Market value of the real estate portfolio was EUR 1.81 billion, with the strategic portfolio at about EUR 1.5 billion.

Outlook and guidance

• Full-year 2026 guidance confirmed: like-for-like net rental income in the Strategic Portfolio expected to increase by ~6%, with FFO projected between EUR 17–19 million.

• Vacancy in the strategic portfolio expected to fall below 3% by year-end.

• LTV target of below 45% maintained for 2028 and beyond.

• Target Vision 2028 aims for further operational improvements and sustainable growth.