CPI Europe (CPI) Q2 2026 earnings summary

Executive summary

• Net profit for H1 2026 was €158.3M, down 25% year-over-year, mainly due to lower revaluation results.

• Rental income increased by 3.8% to €291.4M, supported by the acquisition of the Czech Republic Residential portfolio.

• Asset management results rose 7.6% to €251.2M; operating profit (EBIT) was €267.2M, down 17.7% year-over-year.

• Strategic focus continued on portfolio optimization, including divestments and targeted acquisitions.

• Financing was strengthened with over €130M in new and extended loans.

Financial highlights

• Rental income: €291.4M (+3.8% YoY); asset management results: €251.2M (+7.6% YoY).

• Net profit: €158.3M (-25% YoY); EBIT: €267.2M (-17.7% YoY); EBT: €200.2M (-18.5% YoY).

• FFO 1 after tax: €119.4M (-9.5% YoY); revaluation results: €63.8M (-53.3% YoY).

• Cash and cash equivalents: €346.8M (+8.4% from YE 2025); net financial liabilities: €3.33B (-9.2% from YE 2025).

• Portfolio value: €8.57B (-1.5% from YE 2025); occupancy rate: 93.5%.

Outlook and guidance

• Continued focus on retail and residential segments, with further development of Czech Republic Residential and expansion of retail parks.

• Ongoing evaluation of combining retail assets with those of S IMMO and CPI Property Group.

• Active portfolio management and selective divestments/acquisitions to support growth.