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Vastned (VASTB) investor relations material
Vastned Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
The real estate portfolio's fair value rose by €17.8 million (+1.4%) compared to 31 December 2025, reaching €1.29 billion, driven by higher market rents and successful redevelopment projects.
EPRA earnings per share for H1 2026 were €1.02, with net rental income up to €34.1 million (+1.6% like-for-like), and a high occupancy rate of 99.0%.
The optional dividend had a 74.5% participation rate, strengthening financial capacity and balance sheet flexibility.
Financial highlights
Net rental income increased to €34.1 million from €33.6 million year-over-year, mainly due to indexation and lower vacancy.
Operating result reached €42.8 million, up from €42.2 million in H1 2025.
Net result was €33.1 million, up from €26.2 million year-over-year.
EPRA earnings totaled €17.0 million, with an EPRA NTA per share of €39.73.
Debt ratio (EPRA LTV) improved to 38.9% from 39.1% at year-end 2025.
Outlook and guidance
EPRA earnings per share for 2026 are expected between €2.05 and €2.15, assuming a stable portfolio and new share count post-dividend.
Dividend forecast for 2026 is €1.90 gross per share.
Management maintains a focus on prudent growth, risk management, and attractive returns.
- High occupancy, stable results, improved leverage, and merger progress define H1 2024.VASTB
Q2 202424 Jun 2026 - Portfolio growth, high occupancy, and merger synergies offset by rising financing costs in 2026.VASTB
Q4 202523 Jun 2026 - EPRA earnings declined, net result rose, and a merger with interim dividends was approved.VASTB
Q3 202422 Jun 2026 - Portfolio value up 1.3%, net result surges, and 2025 EPRA EPS guidance reaffirmed.VASTB
Q1 202522 Jun 2026 - Merger completed, high occupancy, stable dividend, and strong financials despite asset sales.VASTB
Q4 202422 Jun 2026 - EPRA earnings and portfolio value grew, while leverage improved and occupancy stayed high.VASTB
Q1 202625 May 2026 - Portfolio value up 2.1%, occupancy at 98.6%, and 2025 guidance raised after strong nine months.VASTB
Q3 202527 Oct 2025 - EPRA earnings per share guidance raised to €2.00–€2.10 as portfolio value and occupancy remain strong.VASTB
Q2 202528 Jul 2025
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