Aroundtown (ETR:AT1) reported stable first-half operating results for 2026, with rental growth offsetting the impact of asset sales, while higher financing costs reduced funds from operations.
Management said the company remains on track to meet its full-year guidance and is continuing to recycle capital through disposals, property investments and share repurchases
CEO Barak Bar-Hen said the macroeconomic and geopolitical backdrop remained mixed during the first half, but external volatility had not materially affected operations. He said the company’s residential and hotel holdings, which together represent 53% of the portfolio, continued to benefit from favorable market conditions, while the office segment remained relatively stable despite subdued economic activity. Stable rental income, lower FFO Net rental income totaled €591 million in the first half, unchanged from the prior-year period.
Like-for-like rental growth of 2.7% offset the reduction in rental income from net disposals. Adjusted EBITDA was also broadly stable at €500 million, compared with €501 million a year earlier. FFO I, a key recurring earnings measure for property companies, declined 4% to €144 million from €150 million, primarily due to higher financing expenses.