LAMDA Development SA (LAMDA) Q4 2025 earnings summary

Executive summary

• Consolidated EBITDA rose 29% year-over-year to €254m, with net results up 1.9x to €91m.

• Total investment portfolio reached €3.8b, and cash balance stood at €804m at year-end.

• Strong operational progress across all business segments, with record performances in malls and marinas.

• The Ellinikon Project saw robust residential sales and significant construction milestones.

Financial highlights

• Revenue declined 15% year-over-year to €567.2m.

• Group consolidated EBITDA before asset valuations dropped 52% to €81.8m.

• Net Asset Value (NAV) increased to €1.55b (€9.06 per share).

• Total cash increased to €804m, with net borrowings at €659m.

Outlook and guidance

• Continued strong commercial momentum expected, especially in residential and retail segments.

• Ongoing construction and leasing progress at The Ellinikon and retail developments.