Care Property Invest (CPINV) Q3 2026 earnings summary

Executive summary

• Portfolio fair value was €1,379.5m across 158 healthcare projects in four countries; Q3 YTD rental income rose 12.1% to €61.595m and adjusted EPRA earnings rose 11.62% to €37.033m.

• FY2026 guidance is at least €1.13 adjusted EPRA EPS and €1.00 gross DPS; EPRA LTV was 47.63%, with a strategic objective to remain below 50%.

Financial highlights

• Net rental result was €61.445m, up 11.84% YoY; operating cash result was €54.133m, up 11.41%.

• Adjusted EPRA earnings were €37.033m, up 11.62%; adjusted EPRA EPS was €0.8761 versus €0.8970, reflecting the higher share count after the Dec. 2025 capital increase.

• Net result was €54.7m versus €36.4m; a €19.6m non-cash fair-value gain on hedging instruments materially supported the result.

• Like-for-like investment-property fair value decreased 0.04%; total portfolio fair value was down 1% from 31 Dec. 2025.

• Cash operating margin was 88%; operating margin excluding non-cash elements was 87.89%, up from 86.70%.

Outlook and guidance

• FY2026 rental income guidance is at least €82m, an expected ~11% increase; adjusted EPRA EPS guidance increased to at least €1.13 from €1.11.

• FY2026 gross dividend guidance remains €1.00 per share, or €0.85 net after 15% withholding tax; stable dividend is anticipated barring unforeseen circumstances.

• Existing agreements are expected to generate income for an average 12.77 years; new projects are expected to be EPS-accretive within three years.

• Average rental indexation was 2.44%; committed development cash outflows were €7.8m at 30 Sep. 2026.