sur Grand City Properties S.A., (ETR:GYC)
Grand City Properties Records Steady H1 2026 Financials
Grand City Properties S.A. (GCP) disclosed a 3% year-on-year increase in net rental income for H1 2026, reaching €219 million, supported by portfolio-wide rental growth. Adjusted EBITDA experienced a similar uptick, growing to €174 million. However, FFO I saw a 4% decline to €91 million, influenced by higher finance expenses and other factors.
The company's net profit dropped significantly to €129 million, compared to €210 million in the same period last year. This dip is mainly due to lower revaluation contributions. Despite this, GCP maintained a strong liquidity position with €1.4 billion in cash, representing 31% of total debt, and upheld a conservative balance sheet with an LTV of 33%.
The company completed notable acquisitions and maintained strategic financial maneuvers. This includes refinancing €600 million in perpetual notes and reinstating a dividend of €0.30 per share. These efforts align with GCP's continued focus on achieving robust financial health and operational strength.
R. P.
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