RomReal (ROM) Q1 2026 earnings summary

Executive summary

• Net Asset Value (NAV) per share decreased by 1.6% to EUR 0.39 compared to Q4 2025, with total NAV at EUR 15.7 million, reflecting market and operational headwinds.

• Net loss for Q1 2026 was EUR 249,000, a slight improvement from a EUR 259,000 loss in Q1 2025.

• Cash position at quarter-end was EUR 6.1 million, up from EUR 3.3 million in Q1 2025, mainly due to plot sales and capitalized infrastructure expenses.

• One apartment sold in Oasis during Q1 2026; nine apartments and two plots sold to date; presale agreement for another apartment signed in Q4 2025.

Financial highlights

• Operating revenue for Q1 2026 was EUR 170,000, up from EUR 64,000 year-over-year, driven by asset disposals and rental income.

• Operating expenses increased to EUR 333,000 from EUR 307,000, mainly due to higher administrative and payroll costs.

• Net financial income was EUR 6,000, reversing a EUR 60,000 loss in Q1 2025.

• Net cash flow for the quarter was positive at EUR 116,000, mainly due to asset sales and capitalized infrastructure expenses.

• Total equity increased to EUR 15.7 million from EUR 14.4 million year-over-year.

Outlook and guidance

• Economic recovery in Romania is delayed due to negative CPI and GDP trends and lack of a functioning government.

• The residential real estate market is largely frozen, and ongoing sales processes have slowed significantly.