on Grand City Properties S.A., (ETR:GYC)
Grand City Properties Reports Q1 2026 Results and Reinstates Dividends
Grand City Properties S.A. reported a solid Q1 2026 performance, with net rental income reaching €109 million, a 2% increase from the previous year. The company's adjusted EBITDA rose by 1% to €86 million, although FFO I decreased by 4% to €46 million due to higher finance expenses.
Despite net disposals, the firm achieved a 3.5% like-for-like rental growth, maintaining a low vacancy rate of 3.6%. Grand City's liquidity remains strong with €1.6 billion in cash and liquid assets. The firm's conservative financial approach is reflected in its low 32% loan-to-value ratio and €6.4 billion of unencumbered assets.
In line with its financial results and strengthened position, Grand City announced the reinstatement of dividends after a three-year hiatus, proposing a dividend of €0.30 per share for 2025. Future dividends are to be adjusted to 50% of FFO I per share.
R. H.
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