Ascencio (ASCE) Q1 2026 earnings summary

Executive summary

• Acquired Horizon Provence retail park in France for €22.8 million, expanding the portfolio to nearly 100 properties across Belgium, France, and Spain.

• Portfolio value increased to €770.7 million at 31/12/2025, with rental income of €13.3 million for the quarter.

• EPRA occupancy rate remained high at 96.6%, reflecting strong tenant demand.

Financial highlights

• Rental income decreased by 1.3% year-over-year due to prior disposals, but rose 0.3% on a like-for-like basis.

• EPRA earnings fell 2.6% to €9.2 million, mainly from disposals and lease renegotiations.

• Net result increased to €10.5 million from €9.0 million year-over-year, driven by portfolio and hedging gains.

• EPRA earnings per share was €1.39, down from €1.43; net result per share rose to €1.59 from €1.36.

• EPRA NTA per share increased to €68.56 from €67.14.

Outlook and guidance

• Commercial real estate on city outskirts remains resilient, with defensive positioning and higher yields.

• Stable debt levels and available financing lines position the company for further acquisitions.