Fleming Properties (FLMNG) Q2 2026 earnings summary

Executive summary

• Revenue for H1 2026 was €3,937k, nearly flat year-over-year, reflecting high occupancy and stable cash flows.

• Net profit for H1 2026 increased to €1,115k from €912k year-over-year, mainly due to positive unrealized property value changes.

• A major lease extension with SOK until 2040 secures €83 million in contracted rental income and extends average lease term to 14.5 years.

• Operational performance remained stable, with management results largely unchanged and improved period results.

Financial highlights

• Q2 2026 revenue was €2,026k, up from €1,900k in Q2 2025; H1 2026 revenue was €3,937k versus €3,921k in H1 2025.

• Q2 2026 net operating income was €1,610k (Q2 2025: €1,551k); H1 2026 net operating income was €2,971k (H1 2025: €3,083k).

• H1 2026 management result was €984k (H1 2025: €1,157k); Q2 2026 management result was €609k (Q2 2025: €611k).

• H1 2026 net profit was €1,115k (H1 2025: €912k); Q2 2026 net profit was €978k (Q2 2025: €844k).

• Property value increased to €110.4m as of June 30, 2026 (Dec 31, 2025: €109.8m).

Outlook and guidance

• The long-term lease extension with SOK and stable cash flows provide a strong foundation for future value creation.

• No significant events have occurred after the reporting period.