7 May, 2026
Q1 2026 Financial results
Strong start to the year with solid operating performance driven by rental growth and high occupancy
- EPRA earnings per share increased by 6%, including 2.7% like-for-like rental growth
- 30,000 m² of space (re)let with an average rent increase of 20%, driven by several exceptional lettings above ERVs
- Occupancy remains high at 99.6%, supported by the renewal of 79% of leases expiring in 2026
Track27 remains on schedule through disciplined execution
- 88% of the targeted Track27 investment volume has now been secured (+€70 million vs. year-end 2025). In the next few months, Montea expects to invest €90 million in direct yielding acquisitions, which are currently in the exclusive negotiation phase, at a NIY of over 6.5%
- Remaining Track27 investments are fully covered by the available investment capacity, with net debt/EBITDA at 7.3x and LTV at 37.4%
- Outlook confirmed with EPRA earnings per share expected to reach €5.23 in 2026 (+7% y/y) and €5.60 in 2027 (+7% vs. 2026)
Corporate governance supporting growth strategy: transition to a one-tier board of directors proposed at the General Shareholders’ Meeting.