NEPI Rockcastle, a leading commercial real estate company in Central and Eastern Europe, has reported a 3.5% increase in distributable earnings per share for the first half of 2026. The company's net operating income rose 3.8% to €318 million, driven by organic growth and a 37.6% increase in energy-related NOI. Despite the positive operational performance, shares traded down 1.18% to $8.01 following the presentation.
Operational Performance
NEPI Rockcastle delivered record-high operational results, with a 98.2% EPRA occupancy rate and a 99.2% collection rate. Tenant sales grew 2.7% on a like-for-like basis, outpacing the 2.6% consumer price index average for the period.
Strategic Expansion
The company's acquisition of MegaPark Barakaldo in Spain's Basque region marks its first strategic move beyond the CEE region. The transaction adds 81,000 square meters of GLA to the portfolio and offers attractive fundamentals, with GDP growth forecast at 2.4% for 2026 and 1.9% for 2027.
