LAMDA Development SA
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LAMDA Development SA (LAMDA) investor relations material

LAMDA Development SA Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary5 Nov, 2026

Executive summary

  • 9M 2026 revenue was €420.275m and consolidated EBITDA was €34.804m; reported net loss was €58.308m.

  • Operating malls and Flisvos Marina set 9M records, while Ellinikon construction ramp-up costs and land-sale timing weighed on results.

  • Total investment portfolio reached €3.955bn; NAV was €1.499bn, or €8.70 per share.

Financial highlights

  • Revenue fell 5% YoY from €443.698m; residential sales revenue rose 27% to €272.2m, while land sales, joint ventures and other revenue fell to €29.3m from €114.5m.

  • EBITDA before valuations and other adjustments was €12.0m versus €98.4m; consolidated EBITDA was €34.804m versus €252.740m.

  • Net loss was €58.308m versus net profit of €117.351m; excluding Ellinikon, adjusted net profit attributable to equity holders was €77.665m.

  • Net investment-property valuation gains were €23.107m versus €150.870m; 2026 included €83.183m of mall/development gains and a €60.106m Ellinikon loss.

Outlook and guidance

  • FY 2026 CapEx target was ~€1.6bn; 9M Ellinikon construction added €415m, bringing project-to-date buildings and infrastructure CapEx to €1.405bn.

  • Ellinikon 2026 cash collections and buildings and infrastructure CapEx were each anticipated at €0.6bn.

  • Little Athens residential deliveries are expected to begin in Q1 2027; Riviera Galleria and Agios Kosmas Marina construction completion is expected in early 2027, with openings around Q3.

  • Around 100 Little Athens units were expected to launch by year-end, with another 100–150 over time to complete the first phase of ~1,300 units.

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