Aroundtown SA earnings date
Aroundtown SA (AANNF) Q2 2026 Earnings Report
AANNF Q2 2026 EPS Results
- Actual EPS
- $0.09
- Consensus EPS
- $0.09
- Beat/Miss
- Met expectations
- One Year Ago EPS
- $0.13
AANNF Q2 2026 Revenue Results
- Actual Revenue
- $421.10M
- Expected Revenue
- $419.25M
- Beat/Miss
- Beat by +$1.84M
- YoY Revenue Growth
- +0.37%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 08/26/2026
- Time
- Before Open
- Conference Call
- Wednesday, August 26, 2026
Aroundtown SA's next earnings date is estimated for November 25, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
The call presents a constructive operational story: stable net rental income, positive like‑for‑like growth (particularly in residential and hotels), active capital recycling with accretive buybacks and disposals, strong liquidity and sustainability progress. These positives are tempered by higher finance expenses, a short‑term decline in FFO I, weaker office dynamics, and refinancing headwinds in 2027–2028. Management has articulated clear mitigation measures (proactive refinancing, conversions, accretive CapEx, and continued disposals) and expects an inflection by 2029 if rates stabilize.
Aroundtown guided 2026 FFO I of EUR 275–305 million (EUR 0.24–0.27 per share) and a dividend per share of EUR 0.120–0.135 (50% FFO I payout policy, AGM subject), noting mid‑term upside from like‑for‑like rental growth of ~2–3% p.a. (c. EUR 100m over 3–4 years) plus EUR 55m of rental upside from conversions/repositionings by 2030; H1 metrics cited to support this include LFL rent growth of 2.7% (residential 3.5%, hotels 4.4%, offices 0.9%), portfolio value EUR 25.2bn, annualized rent EUR 1.16bn (5% headline yield; hotels 5.7% stabilized), EPRA NTA EUR 8.0, liquidity EUR 3.9bn + >EUR1bn undrawn, hedging ratio 95%, pro‑forma cost of debt ~2.6% (2.4% at 30 June), average debt maturity 3.9 years (4.7y including liquidity), LTV within the 45% Board limit, and an expected ICR above ~3x at year‑end with an anticipated FFO inflection from 2029 as refinancing headwinds ease.
- Stable Net Rental Income with Organic GrowthNet rental income of EUR 591 million in H1 2026, stable vs H1 2025, supported by like‑for‑like rental growth of 2.7% across the portfolio.
- Solid Adjusted EBITDA and FFO II outperformanceAdjusted EBITDA of EUR 500 million (vs EUR 501 million in H1 2025). FFO II of EUR 268 million, up from EUR 200 million in H1 2025, driven by higher disposal gains.
- Shareholder Returns and Buyback ExecutionShare buyback program launched in January (approx. EUR 250 million program) executed at an average discount of ~67% to EPRA NTA (Dec 2025), and shareholder allocations (buyback + dividend) of roughly EUR 340 million in 2026 to date, delivering meaningful accretion to NAV and FFO per share.
- Resumption of Dividend and Clear Payout PolicyDividend payment resumed (first since suspension), dividend policy set at 50% of FFO I per share; 2026 dividend guidance of EUR 0.120–0.135 per share.
- Balance Sheet Liquidity and HedgingHigh liquidity: EUR 3.9 billion cash plus >EUR 1 billion undrawn credit lines; hedging ratio ~95%; pro‑forma cost of debt ~2.6% (2.4% as of 30 June); average debt maturity 3.9 years (4.7 years including liquidity).
- Progress on Capital Recycling and Accretive DeploymentClosed disposals of EUR 350 million (signed ~EUR 390 million YTD) executed around book value with a disposal gain of EUR 125 million; proceeds being redeployed into higher‑yield acquisitions and CapEx (acquisitions at >7% residential yields; conversions/hotel repositionings reported yields ~10–19% on CapEx for highlighted projects).
- Portfolio Quality and Operational KPIsPortfolio value EUR 25.2 billion; annualized rental income EUR 1.16 billion; rental yield ~5% (hotel stabilized yield 5.7%); WALT 7.3 years; EPRA vacancy stable at 7.6%; in‑place rent EUR 11.8/sqm; 160,000 sqm renewed (avg WALT 5.1y) and 130,000 sqm newly signed (avg WALT 7.8y).
- Residential & Hotel OutperformanceResidential (33% of portfolio) like‑for‑like rental growth 3.5%; hotels (20%) like‑for‑like rental growth 4.4% — together these asset classes (53% of portfolio) are primary drivers of rental growth and defensive cash flows.
- Sustainability Milestones76% of commercial portfolio BREEAM‑certified (81% of offices, 72% of hotels); first BREEAM Outstanding score achieved (Astropark, Frankfurt); demonstrated energy upgrade example in Leipzig (EPC F→A, >75% reduction in final energy demand, >85% reduction in primary energy demand) with asset uplift and added units.
- Increased Exposure to Defensive Residential EarningsStake in Grand City Properties increased opportunistically to ~84% (from 81.5%), expected to add ~EUR 10 million FFO from 2027 onward, increasing exposure to German and London residential markets.
AANNF Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Nov 25, 2026 | 2026 (Q3) | ―- | 0.35 | ― | ― |
| Aug 26, 2026 | 2026 (Q2) | 0.090.09 | 0.13 | -33.33% (-0.04) | |
| May 27, 2026 | 2026 (Q1) | 0.060.06 | 0.22 | -75.00% (-0.17) | |
| Mar 04, 2026 | 2025 (Q4) | ―0.13 | 0.28 | -53.94% (-0.15) | |
| Nov 26, 2025 | 2025 (Q3) | ―0.19 | 0.1 | 91.11% (+0.09) | |
| Aug 27, 2025 | 2025 (Q2) | 0.130.13 | 0.18 | -25.00% (-0.04) | |
| May 28, 2025 | 2025 (Q1) | 0.220.22 | 0.04 | 400.00% (+0.18) | |
| Mar 26, 2025 | 2024 (Q4) | 0.240.28 | -0.88 | 131.95% (+1.16) | |
| Nov 27, 2024 | 2024 (Q3) | ―0.10 | -1.05 | 109.47% (+1.15) | |
| Aug 28, 2024 | 2024 (Q2) | ―0.18 | -1.05 | 116.84% (+1.22) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
