alstria office REIT (AOX) Q3 2026 earnings summary

Executive summary

• 9M revenue declined 2.1% to €143.1m, while FFO rose 50.4% to €60.1m, supported by hedging-related financing savings.

• Net profit fell 50.5% to €49.0m, chiefly reflecting non-cash derivative fair-value losses and a prior-year bond repurchase gain.

• Net LTV declined to 54.2%; EPRA NTA increased to €14.32 per share.

Financial highlights

• Net rental income rose 1.5% to €128.2m as property operating expenses fell to €46.0m from €51.5m.

• FFO margin increased to 42.0% from 27.3%; SG&A decreased 7.0% to €23.4m.

• Equity rose 4.6% to €1,733m; investment property, excluding assets held for sale, was €4,224m.

Outlook and guidance

• FY 2026 guidance confirmed at €192m revenue and €74m FFO; 9M operational performance was on plan.

• Markets expected to remain challenging amid energy uncertainty, possible renewed inflation and a weak economic outlook.

• Year-end valuation movement expected to be roughly flat; the effect of invested CapEx remains uncertain.