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Fleming Properties (FLMNG) investor relations material
Fleming Properties Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q1 2026 was €1,911k, down from €2,021k year-over-year, mainly due to a break option exercised by a major tenant affecting 2,200 sqm of leased space.
Net operating income was €1,361k (down from €1,532k), and management result was €375k (down from €546k), reflecting lower rental income and higher operating costs.
Net profit for the period increased to €137k from €68k, primarily due to lower capex investments.
Financial position remains stable with a strong balance sheet and focus on leasing, cost control, and long-term value growth.
Financial highlights
Operating margin (net operating income/revenue) was 71.2% (down from 75.8%).
Return on equity improved to 0.9% (from 0.5%).
Equity per share was €0.9, and NRV per share was €1.0, unchanged year-over-year.
Market value of properties at period end was €109.8m (up from €108.2m).
Cash and cash equivalents at period end were €10.9m.
Outlook and guidance
Management remains cautiously optimistic about leasing vacant space before year-end despite a challenging rental market.
Focus continues on leasing, cost control, and long-term value creation.
- Net profit rebounded on stable income and property revaluations, with refinancing risk ahead.FLMNG
Q4 202519 Feb 2026 - Net profit returned, revenue and occupancy rose, and refinancing strengthened the balance sheet.FLMNG
Q3 202525 Nov 2025 - Net profit turned positive on stable revenue and lower leverage, despite higher interest costs.FLMNG
Q2 202526 Aug 2025 - Revenue up, debt reduced, equity strengthened, but profit pressured by higher financing costs.FLMNG
Q3 202413 Jun 2025 - Revenue and operating income rose, but property revaluations kept results negative.FLMNG
Q2 202413 Jun 2025 - Revenue up, profit down on higher interest; balance sheet and occupancy remain strong.FLMNG
Q1 20256 Jun 2025 - Revenue up, losses narrowed, debt reduced, and dividend proposed amid high occupancy.FLMNG
Q4 20246 Jun 2025
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