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ARGO Properties (ARGO) investor relations material
ARGO Properties Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 rental revenue rose 15% YoY to €7.874m; net income reached €18.0m vs. €10.7m, supported by operating growth and property revaluation gains.
Portfolio strategy combines rental growth, apartment upgrades and sales, and expansion; 5,972 units were owned or in acquisition processes as of July 31, 2026.
H1 net income was €34.3m; June 30 shareholders’ equity was €532.8m and NTA was €568.6m, or €25.00 per share.
Financial highlights
Q2 rental income was €7.874m vs. €6.873m; H1 rental income was €15.529m vs. €13.601m.
Q2 operating profit before fair-value changes rose ~30% YoY to €6.4m; H1 reached €13.2m vs. €9.6m.
Investment-property fair-value gains were €21.1m in Q2 and €58.5m in H1; Q2 net income was €18.0m vs. €10.7m and H1 net income was €34.3m vs. €24.9m.
Q2 basic EPS was €0.80 vs. €0.50; H1 basic EPS was €1.54 vs. €1.11.
Apartment sales generated Q2 revenue of €6.2m and gross profit of €1.7m; H1 revenue was €15.2m and gross profit was €4.2m.
Outlook and guidance
2026 acquisition activity is expected to grow significantly vs. 2025; signed or exclusivity-stage transactions totaled €142.1m YTD, with €93.3m completed by the report date.
At least 5,685 apartments were identified as potential R2C inventory, with an estimated €481m profit pool subject to market, financing and execution uncertainties.
Management expects urban demand and constrained housing supply to support rental growth and residential values over the medium to long term.
Berlin development plans target ~18,310 sqm gross residential area; a preliminary permit application was filed in March 2026, with approval scope uncertain.
- Strong rental growth was offset by tax and valuation charges, driving a €12.946m Q1 net loss.ARGO
Q1 2023 - Strong rent growth met higher yields, fair-value losses and a small Q2 net loss.ARGO
Q2 2023 - 9.9% rent growth was offset by valuation losses that drove a Q3 net loss.ARGO
Q3 2023 - Rental growth and refinancing underpin expansion despite valuation-driven losses.ARGO
Q4 2023 - Rental growth, refinancing and R2C sales support the goal of doubling units by 2030.ARGO
Q1 2024 - Q2 rental revenue grew 17% as R2C sales and refinancing support expansion.ARGO
Q2 2024 - Rent growth and refinancing support a €265m R2C profit pipeline.ARGO
Q3 2024 - Rental growth restored Q4 profitability, with €363m in estimated apartment-sale upside.ARGO
Q4 2024 - Rental growth and fair-value gains lifted Q1 net income to €14.212m.ARGO
Q1 2025
Next ARGO Properties earnings date
Next ARGO Properties earnings date
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