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Hamborner REIT (HAB2) investor relations material
Hamborner REIT Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Rental income for H1 2026 was €45.1 million, down 1.3% year-on-year due to property disposals, but like-for-like rental income increased by 1.7%.
FFO reached €23.8 million (€0.29 per share), a 4.4% decrease year-on-year.
Operating performance remained resilient with a low vacancy rate of 4.1% and a weighted average lease term (WALT) of five years.
Net rental income was €37.3 million, nearly flat year-over-year.
Operating result dropped to €-6.6 million from €10.5 million, mainly due to €19.2 million in impairment losses on six properties.
Financial highlights
Income from passed on costs rose 7.3% due to higher ancillary tenant payments.
Operating expenses decreased 2.1% to €10.1 million, mainly from property disposals.
Maintenance expenses increased slightly to €3.6 million, with a 30% rise expected for the full year.
Interest expenses rose 8% due to refinancing at higher rates; interest income fell 15%.
EBITDA was €30.4 million (H1 2025: €33.3 million); EBIT was €-6.9 million (H1 2025: €12.7 million).
Outlook and guidance
Full-year 2026 guidance confirmed: rental income expected between €87.5–89.5 million, FFO between €38–42 million.
Guidance reflects recent disposals, higher maintenance, interest, and personnel expenses.
Maintenance costs projected to increase by about 30% in 2026, with higher financing costs also anticipated.
Company maintains confidence in its business outlook despite macroeconomic and geopolitical uncertainties.
Strategic focus remains on retail properties and gradual reduction of office exposure.
- Portfolio pivots to retail, maintains strong financials, and targets net zero emissions by 2045.HAB2
Company presentation - Rental income and FFO fell, but net profit rose and outlook remains stable with retail focus.HAB2
Q1 2026 - Portfolio shifts to retail focus, with strong ESG targets and resilient financials.HAB2
Company presentation - Rental income and FFO declined, but exceeded guidance; retail focus and €0.39 dividend proposed.HAB2
Q4 2025 - Rental income and FFO fell, but guidance was raised and equity ratios remained strong.HAB2
Q3 2025 - Rental and net profit up, FFO down slightly, and guidance raised amid stable portfolio.HAB2
Q3 2024 - Rental income and FFO rose, portfolio stable, guidance confirmed, but costs and risks remain.HAB2
Q2 2024 - Lower 2025 guidance and a reduced dividend payout reflect asset sales and higher costs.HAB2
Investor Update - Rental income up 2%, FFO down 5.5%; asset sales and rising costs shape 2025 outlook.HAB2
Q4 2024
Next Hamborner REIT earnings date
Next Hamborner REIT earnings date
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