Arco Vara (ARC1T) Q3 2026 earnings summary

Executive summary

• Q3 revenue was €997k vs €2.531m YoY and net loss was €380k vs net profit of €256k; losses were attributed to two developments still under construction.

• 9M net loss was €1.533m vs net profit of €214k; pre-sales revenue is expected to be recognized after real-right contracts in Q4.

Financial highlights

• 9M revenue was €5.316m, down €308k YoY; gross profit was €532k vs €1.672m.

• 9M operating loss was €1.441m vs operating profit of €622k; Q3 operating loss was €237k vs profit of €357k.

• Q3 real estate sales revenue was €860k vs €2.407m YoY; service revenue was €137k vs €124k.

• 9M operating cash flow was -€14.028m; financing cash flow was €11.622m, investing cash flow €2.616m, and period-end cash €2.993m.

Outlook and guidance

• Q4 revenue and profit were forecast to increase as revenue from pre-sales is recognized after real-right contracts; lili handovers were scheduled from November and Spordi from December 2026.

• Arcojärve detailed-plan approval was expected by year-end 2026, with a building permit targeted for H1 2027 and construction to start thereafter.

• All Botanica Lozen Stage I houses were sold; the final handover was scheduled for Q4 2026, with the full development due for completion by July 2029.