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Corestate Capital (CCAP) investor relations material
Corestate Capital Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
H1 2026 focused on value-preserving disposals of non-core assets, deleveraging, and developing Hannover Leasing as the real asset investment manager.
Disposal proceeds planned through end-2027 were revised down €10.7m, or 4.8%, to €212.3m; full repayment of the remaining ~€22.7m Super Senior Notes is planned by end-2026.
Financial highlights
H1 2026 revenue and gains were €12.6m vs €14.0m in H1 2025; EBITDA was -€11.9m vs -€8.3m.
H1 net profit was -€21.9m vs -€21.2m; adjusted net profit was -€20.6m vs -€19.4m; EPS was -€0.10 in both periods.
Cash and cash equivalents were €25.0m at 30 June 2026 vs €24.2m at 31 December 2025; net debt was €158.2m vs €153.6m.
Outlook and guidance
The planned August 2026 partial redemption will not occur as anticipated following revised disposal timing and lower expected proceeds; full repayment of ~€22.7m remaining Super Senior Notes is planned by end-2026.
End-2026 repayment depends on the planned sale of a remaining warehousing asset and other financial instruments by December; future disposal proceeds are intended for outstanding note liabilities.
2026 disposal proceeds forecast was cut from €61.8m to €46.5m; 2027 proceeds rose €4.6m to €69.3m.
- Deleveraging and asset disposals drive Q1 2026, with losses widening and AUM declining.CCAP
Q1 2026 - Revenue and EBITDA rebounded, with asset disposals and debt extension supporting stabilization.CCAP
Q4 2025 - Significant losses and deleveraging mark a challenging transition to a holding structure.CCAP
Q3 2025 - Revenue and EBITDA fell, but asset sales and liquidity support ongoing deleveraging.CCAP
Q2 2025 - Revenue up, profits down; asset sales and debt repayment drive 2025 strategy.CCAP
Q1 2025 - Net loss, lower equity, and delayed asset sales mark Corestate's ongoing restructuring.CCAP
Q3 2024 - EBITDA loss narrowed and asset sales accelerated, but AUM and equity ratio declined.CCAP
Q2 2024 - Losses narrowed and asset sales progressed, but liquidity remains a key challenge.CCAP
Q1 2024 - Restructuring nearly complete; focus shifts to asset sales and deleveraging amid market headwinds.CCAP
Q4 2024
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