Fonciere Inea (INEA) Q2 2026 TU earnings summary

Executive summary

• Rental income reached €38.8M for H1 2026, showing resilience despite a challenging market.

• Revenue decline of 5.5% year-over-year mainly due to ongoing asset disposal program.

• Strong leasing activity offset tenant departures, with over 21,000 m² commercialized, up 9% year-over-year.

Financial highlights

• Consolidated gross rental income (IFRS) was €38.8M in H1 2026, down from €41.1M in H1 2025.

• At constant scope, rental income decreased by only 0.7% despite market weakness.

• IFRS 16 impact contributed -2.3% to revenue variation.

• Positive rent indexation at 1.5%.

Outlook and guidance

• Majority of the 2026 asset disposal program expected in H2, targeting total disposals of around €40M for the year.

• Upcoming financial events: H1 2026 results on July 23 and Q3 2026 revenue on October 14.