Q1 2026 Citycon Oyj Earnings Call Transcript

May 15, 2026 / 07:00 AM GMT
Release Date Price: €2.88 (-0.52%)

Key Points

Positve
  • Citycon Oyj (FRA:TY2B) reported a like-for-like growth in net rental income (NRI) of 4.5% for Q1 2026.
  • Retail occupancy rates are high at 94.8%, indicating strong demand for their properties.
  • Tenant sales increased by 3.5%, reflecting positive retail performance.
  • The company successfully decreased administrative costs by 17.5%, improving operational efficiency.
  • Citycon Oyj (FRA:TY2B) secured two loans totaling EUR 490 million, enhancing financial stability.
Negative
  • EPRA earnings per share decreased from $0.11 to $0.10 compared to the same quarter in 2025.
  • The company experienced increased financial expenses due to higher interest rates and bond issuance.
  • Loan-to-value ratio increased to 49.4%, which may indicate higher leverage.
  • There is uncertainty regarding potential negative rating actions from S&P due to increased secured debt.
  • Some asset divestment proposals were below book value, which were rejected, indicating challenges in asset sales.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CTY1S.HE - Citycon Oyj
Q1 2026 Citycon Oyj Earnings Call
May 15, 2026 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Momenta, everybody. Good morning.

Happy to have you here on this Friday to summarize our Citicon first quarter of 2026.

Next to me is Helik and after I will give you the management review, the operational, I will leave the floor to Helik.

We had a solid.

First quarter and the operational results are the following. We have like-for-like growth in NRI 4.5%. Our retail occupancy is almost 95%, 94.8%. The rent per square meter grew by 0.9% to â¬28.4 per square meter.

The footfall grew by 2.1% and the tenant sales grew by 3.5%, which is a good indicator.

Our valuation grew by eur2.2 milliono and the NRI margin is almost 90%, 89.9.

The key achievements in the quarter, we focused on the
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