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Carmila (CARM) investor relations material
Carmila Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M 2026 operating momentum accelerated, with like-for-like net rental income growth rising to 2.1% from 1.4% in H1; full-year recurring EPS guidance of €1.87 was confirmed.
Retailer sales, occupancy, collections and leasing activity improved, while a September acquisition and strong credit access supported further growth.
Financial highlights
9M gross rental income was €327.9m versus €327.4m, up 0.2% reported; net rental income was €305.9m versus €301.4m, up 1.5% reported and 2.1% like-for-like.
Like-for-like net rental income growth outpaced indexation by 180 bps, supported by improved operating metrics, higher collections and innovation-driven revenues.
Retailer sales rose 3.2% like-for-like, 380 bps above the panel; footfall increased 1.1%, 20 bps above the panel.
Outlook and guidance
2026 recurring EPS guidance was reiterated at €1.87, based on 9M performance and the strength of the European footprint.
A new five-year strategic plan and future growth ambitions are scheduled for presentation at the Capital Markets Day on 19 November 2026.
- 2026 EPS guidance raised to €1.87 on strong leasing, acquisitions, and portfolio growth.CARM
H1 2026 - Organic net rental income grew 1.2% in Q1 2026, with Spain leading segment performance.CARM
Q1 2026 TU - 2025 saw 8.7% EPS growth, strong rental income, and a positive 2026 outlook with more acquisitions.CARM
H2 2025 - Net rental income up 9.9% and recurring EPS set to rise 7% in 2025, with robust leasing and ESG gains.CARM
Q3 2025 TU - 2025 EPS guidance raised to €1.79 as H1 leasing and rental income growth accelerate.CARM
H1 2025 - Net rental income up 6.2% and recurring EPS for 2024 confirmed at €1.65, driven by Galimmo.CARM
Q3 2024 TU - Galimmo acquisition and strong leasing drive growth, raising recurring EPS guidance to €1.65.CARM
H1 2024 - Q1 2025 net rental income up 15%, with robust leasing and confirmed EPS guidance.CARM
Q1 2025 TU - Recurring EPS up 4.5%, net rental income up 8.3%, and portfolio value rose 13% in 2024.CARM
H2 2024
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