on Grand City Properties S.A., (ETR:GYC)
Grand City Properties Reports Robust 9M 2026 Results
Grand City Properties S.A. announced strong operational results for the first nine months of 2026, with net rental income rising to €331 million, a 4% increase from €320 million in the same period of 2025. The company's like-for-like rental growth remained steady at 3.3%, with a low vacancy rate of 3.6%.
Adjusted EBITDA also saw a 4% increase, reaching €265 million. However, the FFO I decreased by 4% to €136 million due to higher finance expenses and a rise in perpetual notes attribution. Profit dropped significantly to €182 million compared to €410 million in 2025, primarily because of lower revaluation gains.
In 2026, Grand City Properties completed acquisitions worth approximately €200 million, while making disposals amounting to €39 million. The company increased its FY 2026 FFO I guidance, expecting it to reach between €185 million and €195 million, boosted by the acquisition of a 20.04% stake in LEG Immobilien SE.
R. E.
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