Reitir fasteignafélag (REITIR) investor relations material

Executive summary

• Strong operational performance in H1 2026, with revenues and operating profit exceeding expectations and growing faster than costs.

• Real revenue growth of 7.4% year-over-year, driven by robust leasing activity and successful development projects.

• Significant project pipeline, including major new leases and development projects in healthcare, retail, and sustainable business centers.

• Key investments in hotel, office-to-nursing home conversion, and new eco-certified business center projects.

Financial highlights

• Rental income increased by 12.7% year-over-year to ISK 9,884 million in H1 2026, with real growth of 7.4%.

• Operating profit before revaluation/fair value changes rose by 16.2% year-over-year to ISK 6,593 million.

• Net profit for H1 2026 was ISK 1,567 million, down 43.5% from the previous year due to higher finance costs.

• Fair value gain on investment properties was ISK 3,895 million, compared to ISK 3,604 million last year.

• Total assets at June 30, 2026, were ISK 268,847 million; equity was ISK 77,238 million.

Outlook and guidance

• Full-year 2026 rental income now expected in the range of ISK 19,800–20,100 million, and operating profit before revaluation at ISK 13,200–13,500 million.

• Upward revision driven by stronger-than-expected price increases and real revenue growth.

• Continued focus on development and value-adding projects to drive future growth.

• New projects added in 2026 are expected to further enhance growth opportunities.