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Montea (MONT) investor relations material
Montea Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
EPRA EPS rose 6% year-over-year to €1.13, driven by 2.7% like-for-like rental growth and 99.6% occupancy, with 30,000 m² (re)let at a 20% average rent uplift.
Track27 investment program is 88% secured, with €70 million invested in Q1 and €90 million in direct yield acquisitions in negotiation at NIY above 6.5%.
Portfolio value increased 1% quarter-over-quarter to €3.2bn, with high occupancy outperforming market average by 500 bps.
79% of 2026 lease maturities already (re)let or extended, supporting rental growth.
Financial highlights
Net rental income rose 12% year-on-year to €37.3 million, with total property result up 9% to €37.4 million.
EPRA result reached €26.4 million, up 7% year-on-year; EPS at €1.13, up 6%.
Operating margin stable at 85%, targeting 88% for 2026 and 90% for 2027.
Loan-to-value at 37.4%, adjusted net debt/EBITDA at 7.3x, interest cover at 4.1x, and average cost of debt at 2.2%.
EPRA NTA increased 4.6% year-over-year to €82.97.
Outlook and guidance
2026 guidance: EPRA EPS of €5.23 (+7% YoY), dividend of €4.19 (+7% YoY), and minimum 2.5% like-for-like rental growth.
2027 guidance: EPRA EPS of €5.60 (+7% vs 2026), €150 million investment volume target.
Operational margin target of 90% by 2027, average cost of debt not to exceed 2.5%, and occupancy above 98%.
- EPRA earnings up 18% y/y to €112.8m; portfolio value €3.2bn, 99.8% occupancy.MONT
Q4 202513 Apr 2026 - EPRA earnings up 16% to €44.9M, 100% occupancy, and BBB+ Fitch rating achieved.MONT
Q2 202423 Jan 2026 - Record portfolio growth, robust earnings, and 8% EPS growth guidance for 2025.MONT
Q4 202411 Dec 2025 - EPRA earnings up 20% to €54M, portfolio at €3B, 99.7% occupancy, and 75% of growth plan secured.MONT
Q2 202523 Nov 2025 - EPRA earnings up 22% y/y, high occupancy, and €235m invested drive strong 9M 2025 results.MONT
Q3 20255 Nov 2025 - EPRA earnings up 16% YoY, recurring EPS up 4%, and portfolio expands with strong occupancy.MONT
Q3 202413 Jun 2025 - Q1 2025: 25% EPRA earnings growth, 9% EPS growth, €2.9bn portfolio, 99.9% occupancy.MONT
Q1 20255 Jun 2025
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