Bleecker (BLEE) Q1 25/26 TU earnings summary

Executive summary

• Rental income for Q1 2025/2026 reached €6,874K, up 8.92% year-over-year, driven by recent acquisitions and new leases.

• 95.9% of rental income originated from Paris assets, with the remainder from the wider Ile de France region.

Financial highlights

• Rental income increased by €563K compared to Q1 of the previous year.

• Growth at constant scope supported by new lease commencements and rent indexation.

Outlook and guidance

• Investment policy is being adapted to focus on Parisian office buildings and recent activity parks in Ile de France, considering macroeconomic and international conditions.

• The group remains attentive to high-quality, secure assets and those with strong value creation potential.

• Confidence in ongoing strategy, with flexibility to consider alternative investment theses as conditions evolve.