EQS-News: HAMBORNER REIT AG: A solid start to 2026

PRESS RELEASE

HAMBORNER REIT AG: A solid start to 2026

• Operational business development in line with expectations in the first quarter of 2026
• Income from rents and leases decreased by 1.9% to €22.6 million
• FFO down 1.6% to €11.7 million
• Net asset value (NAV) per share at €9.27 (+2.2% YTD)
• Reduction in loan-to-value (LTV) to 43.1%
• Confirmation of forecast for full-year 2026

FINANCIAL RESULTS FOR THE FIRST QUARTER OF 2026

Duisburg, 7 May 2026 – HAMBORNER REIT AG recorded a largely stable and on-track business performance in the first quarter of 2026.

Income from rents and leases amounted to €22.6 million, 1.9% below the level of the same period last year. The decline is due in particular to property disposals made in the previous and current financial years. The revenue development was positively influenced by contractually agreed rent adjustments resulting from inflation (index-linked rent increases). On a like-for-like basis, rental income in the first three months was approximately €0.6 million, or 2.6%, higher than in the first quarter of the previous year.

As a result of lower rental income, Funds from Operations fell by 1.6% compared with Q1 2025 to €11.7 million. FFO per share fell accordingly to €0.14 (previous year: €0.15).

The company’s financial position remains comfortable. Influenced by the largely stable revenue and earnings development, as well as a value adjustment within the property portfolio, the loan-to-value ratio (EPRA LTV) fell to 43.1% compared to the end of 2025 (31 December 2025: 44.3%). The REIT equity ratio increased accordingly over the course of the first quarter and remains at a high level of 56.2% as at 31 March 2026 (31 December 2025: 54.7%).

PORTFOLIO DEVELOPMENT

During the first quarter of 2026, the transfer of ownership took place for the retail property in Ditzingen that had been sold at the end of 2025. As at 31 March 2026, the portfolio therefore comprised 63 retail and office properties with a total value of €1.341 billion. The portfolio’s performance was positively influenced by the adjustment of the fair value of an office property in Cologne by €4.4 million, or 8.3%. Accordingly, the net asset value (NAV) per share as at 31 March 2026 stood at €9.27, 2.2% above the level at the end of 2025 (€9.07).

OPERATIONAL PERFORMANCE

At an operational level business performance also proved largely stable and in line with plans. In the first three months of the financial year, contracts were concluded for rental space of approximately 9,900 m² (Q1 2025: approximately 3,600 m²), with the tenant retention rate remaining at a very high level of approximately 89%.

The average remaining term of the rental agreements (WALT) was largely stable and stood at 5.2 years as at 31 March 2025 (31 December 2025: 5.3 years), with remaining terms within the retail and office portfolios of 6.3 and 3.8 years respectively. The EPRA vacancy rate stood at 3.5% as at the reporting date, unchanged from the low level recorded at the end of 2025.

OUTLOOK

The Company remains fundamentally positive about the further course of 2026 and confirms the most recently published guidance regarding future business performance. Taking into account the forecast assumptions presented in the 2025 Annual Report, the company expects income from rents and leases of between €87.5 million to €89.5 million in the 2026 financial year. The operating result (FFO) is expected to be between €38.0 million and €42.0 million.

DIVIDEND & ANNUAL GENERAL MEETING

The company’s Annual General Meeting will take place on 3 June 2026 at the ruhrtech kampus in Essen. The Management Board and Supervisory Board intend to propose the distribution of 65% of the operating income generated in 2025, or a dividend of €0.39 per share. Taking into account the current share price, this would correspond to a dividend yield of 7.9%.

The agenda for the Annual General Meeting, including proposals for resolutions, as well as further information and documents, are available for download on the company’s website under the General Shareholders’ Meeting section.

KEY FINANCIAL AND PORTFOLIO FIGURES AS AT 31 MARCH 2026

The full interim statement for the first quarter of 2026 is available to download from the Financial Reports section of the company’s website. Further information on the key performance indicators presented can be found in the Glossary.  

ABOUT HAMBORNER REIT AG

HAMBORNER REIT AG a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around €1.3 billion. The portfolio focuses on attractive local supply properties such as large-scale retail assets, retail parks and DIY stores in city-centre locations, district centres and highly frequented edge-of-town sites in large and medium-sized German cities, as well as modern office properties in established locations.

HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainably attractive dividend strategy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.

CONTACT

Christoph Heitmann
Head of Capital Markets, Financing & Sustainability
Tel.: +49 (0)203 54405-32
Mail: info@ir.hamborner.de
Web: www.hamborner.de

DISCLAIMER

This press release has been issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from HAMBORNER's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by HAMBORNER and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should therefore not be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. HAMBORNER accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. HAMBORNER does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. HAMBORNER is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.