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Retail Estates NV reported improved financial performance for the first quarter of its 2026-2027 financial year, supported by higher rental income and stronger earnings. Net rental income increased by 4.04% year-on-year to EUR 37.85 million, while EPRA earnings rose 7.68% to EUR 24.13 million. The company's occupancy rate remained stable at 97.71%, reflecting continued demand across its retail property portfolio. Retail Estates also maintained its expected gross dividend of EUR 5.25 per share for the financial year, indicating confidence in its operational performance and cash flow outlook.
Retail Estates NV recorded a net rental income of EUR 37.85 million during the first quarter of the 2026-2027 financial year, registering a 4.04% increase compared with the corresponding period of the previous year. The improvement reflects continued stable rental collections and the performance of its retail property portfolio, according to the company's latest quarterly update.
The company also reported EPRA earnings, a key performance measure used by European real estate companies, of EUR 24.13 million for the quarter. This represented a 7.68% increase over the same period a year earlier, indicating stronger operating performance despite a challenging market environment.
Retail Estates maintained an occupancy rate of 97.71% during the quarter, remaining broadly in line with the previous year. The consistently high occupancy level highlights the resilience of its portfolio and continued tenant demand across its out-of-town retail properties.
The company also reaffirmed its expected gross dividend of EUR 5.25 per share for the 2026-2027 financial year. This is in line with the guidance issued while announcing its annual results, when it projected stable rental growth and maintained confidence in its earnings outlook.
Retail Estates had closed the previous financial year with net rental income of EUR 145.79 million, EPRA earnings of EUR 91.90 million and an occupancy rate of 97.82%. During that period, the company also strengthened its balance sheet, expanded its sustainability initiatives and entered the French market through its first retail park acquisition, supporting its long-term growth strategy.
Source Reuters
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