Like-for-like tenant sales increased 3.8% in Q1 2026, outpacing inflation. Footfall remained stable at +0.6%, while average basket size improved 3.3%. EPRA vacancy stayed low at 1.8%, and cash collection remained strong at 98% for Q1 2026 and 99.9% for 2025 revenues as of May 2026.
"The first quarter confirms the quality of our portfolio," said CEO Marek Noetzel. "We continue to capture rental growth through indexation and active asset management, while maintaining high occupancy and strong collection rates. The momentum in markets such as Poland and Croatia remains encouraging, and our assets continue to demonstrate pricing power and resilience."
The group maintained a strong balance sheet with cash and cash equivalents increasing to €565 million from €314 million at end-2025. The loan-to-value ratio stood at 32.4%, below the company's 35% threshold. Investment property totalled €8.26 billion at 31 March 2026.
Development projects progressed as planned, with the Promenada Bucharest extension remaining on schedule for Q2 2027 opening. In renewable energy, the Chișineu-Criș project (54 MW) is expected to start operations by end-May 2026, while Ariceștii Rahtivani (60 MW) is planned for Q3 2026. The development pipeline exceeds €800 million over the next three years.
