PRESS RELEASE Regulated information
Brussels, 12 August 2026, 5:55PM
HIGHLIGHTS
Nextensa delivers strong half-year results, supported by several successful transactions
Nextensa achieved strong results in the first half of 2026. The period was marked by several successful transactions, including the sale of Gewerbepark Stadlau in Vienna, the forward sale of The Rock and the sale of B&B Hotels in Cloche d'Or. The granting of the planning and environmental permits for Lake Side in Brussels and the reservation by Vicinity of a substantial residential portion of Bel Towers further underline the strong progress of the development portfolio. After the end of the half-year, further important milestones were reached with the sale of the Stairs office building in Cloche d'Or and the European Investment Bank (EIB) Group's selection of Treemont.
Portfolio optimisation and opertaing performance
On 14 January 2026, Nextensa completed the sale of the Gewerbepark Stadlau retail park in Vienna for net proceeds of €35.45 million. The transaction forms part of the continued optimisation of the investment portfolio. The operating result from investment properties decreased compared with the same period last year, due to lower rental income and lower property costs following several disposals in 2025. The investment portfolio recorded a 5.7% like-for-like decline in rental income in H1 2026, mainly as a result of anticipation of Proximus's arrival at Tour & Taxis.
Strong momentum in development activities
Cloche d'Or also saw several important transactions in the first half of 2026, including the forward sale of The Rock building, signed on 16 April, and completion of the sale of B&B Hotels, signed on 7 May. The sale of the Stairs office building was finalised on 1 July.
Net result
Lower overheads and lower financing costs resulted in a net profit (Group share) of €16.6 million (€1.68 per dividend-entitled share), compared with €19.9 million at 30 June 2025.
Further improvement in the financial position
Net financial costs, excluding revaluation effects, decreased by €2.8 million compared with the same period last year, mainly due to lower average debt utilisation. Net financial debt amounted to €550.3 million at the end of Q2 2026, compared with €592.8 million at the end of 2025 and €769.3 million at the end of 2024.
The average financing cost decreased from 2.90% to 2.65%, while the hedge ratio remained high at 97%. The financial debt ratio improved from 38.80% at the end of 2025 to 37.88% at the end of Q2 2026. This ratio does not yet take into account available cash of €31 million. Nextensa maintains a strong liquidity position, with approximately €205 million of undrawn committed credit facilities, enabling it to refinance the €100 million bond maturing in November 2026 through existing credit lines.
"We are not just developing real estate; we are building sustainable urban neighbourhoods that create lasting added value for their surroundings. The progress we are making today in Brussels, with Lake Side at Tour & Taxis and Bel Towers in the Northern Quarter, and in Luxembourg with Cloche d'Or, confirms that we are realising our long-term ambition step by step. Our strengthened balance sheet gives us the capacity to continue these projects and keep creating sustainable value for all our stakeholders." Michel Van Geyte - CEO Nextensa
