UBM Development AG: Latest figures confirm turnaround in first half of 2026
Wien (pta010/27.08.2026/07:00 UTC+2)
- Marked improvement in earnings before and after taxes
- Revenue momentum continues
- Equity ratio above target corridor at 36.6%
- Resi sales match previous year's record
- First asset sales at or above book value to fund Affordable Housing
Vienna, 27.08.2026 – UBM Development AG ("UBM") has recorded a positive result for H1 as well, both before and after tax. This is a marked improvement in earnings of over €13m year on year. Revenue increased by over 36% to €81.2m – this is primarily because apartment sales remained at the same all-time high as in the corresponding six-month period in 2025.
At 36.6%, the equity ratio is above the target corridor of 30-35%. Net debt has fallen to €475m, the lowest level since 31st March 2022.
"The turnaround is clearly reflected in the figures. The results from the first six months of this year have confirmed that we are on the right track," observes UBM CEO Thomas G. Winkler.
Pilot project for affordable housing
UBM is taking a new approach with its innovative affordable housing product – unlike conventional construction, prefabricated elements represent a new angle. Thanks to the high degree of prefabrication, construction time is expected to be 30% shorter. UBM is developing its first pilot project in this area with the construction of 92 residential units on Viktor-Kaplan-Strasse in Vienna. By using renewable energy in the form of a heat pump and balcony solar power station for each residential unit, operating costs are being kept below €2 per square metre of living space.
Given that fewer than 2,300 privately financed apartments are expected to be completed in Vienna in 2026, UBM's new product is set to benefit from a surge in demand for private rental apartments.
First asset sales yield over €20m in cash
In order to free up additional funds for implementing its Affordable Housing strategy, UBM is pushing ahead with the sale of standing and non-strategic assets.
Since the company announced plans to rebalance its portfolio in Q1, it has already sold its first assets either at or above the book value. For instance, a leasehold rights package in the greater Vienna area was sold for around €34.8m and a non-strategic property in Styria for €10m. These two disposals alone free up over €20m in cash.
Outlook
The low level of building permits and completions means that housing will be in short supply in future. UBM expects demand to remain high for several years in the Affordable Housing segment. Because of this, UBM's operational focus in the coming quarters will remain on rebalancing its portfolio and establishing a project pipeline for affordable housing.
Earnings and financial indicators in detail
UBM generated Total Output of €179.9m in the first half of 2026, an increase of 28.2% year on year. Earnings before taxes (EBT) amounted to €7.3m, which was a significant improvement compared with the €-5.8m loss from the same period in 2025. Similarly, the marked rise in earnings after taxes turned around the prior-year figure of €-6.6m to a positive total of €6.2m. Equity (6.7% increase to €373.9m) and net debt (10% reduction to €474.6m) also generated distinct improvements compared with the same period last year. Cash and cash equivalents went down to €84.4m following the repayment of bonds, promissory note loans and financial liabilities.
Key performance indicators H1 2026 – UBM Development AG
| Key earnings figures (in €m) | 1-6/2026 | 1-6/2025 | Change |
| Total Output1 | 179.9 | 140.3 | 28.2% |
| Revenue | 81.2 | 59.6 | 36.3% |
| Earnings before taxes (EBT) | 7.3 | -5.8 | >100% |
| Earnings after taxes | 6.2 | -6.6 | >100% |
| Key asset and financial figures (in €m) | 30.06.2026 | 31.12.2025 | Change |
| Total assets | 1,021.5 | 1,092.3 | -6.5% |
| Equity | 373.9 | 350.2 | 6.7% |
| Equity ratio (in %) | 36.6% | 32.1% | 4.5PP |
| Net debt2 | 474.6 | 527.6 | -10.0% |
| Cash and cash equivalents | 84.4 | 117.7 | -28.3% |
| Key share data and staff | 30.06.2026 | 30.06.2025 | Change |
| Earnings per share (in €)3 | 0.10 | -1.32 | >100% |
| Share price (in €) | 17.05 | 21.00 | -18.8% |
| Market capitalization (in €m) | 127.4 | 156.9 | -18.8% |
| Staff | 188 | 218 | -13.8% |
1 Total Output includes the revenue from fully consolidated companies, the proportional share of revenue from companies consolidated at equity, and the revenue from property sales in the form of share or asset deals.
² Net debt equals current and non-current bonds and financial liabilities, excluding leasing liabilities, minus cash and cash equivalents.
3 Earnings per share after deduction of hybrid capital interest.
UBM Development is one of the leading developers of timber construction projects in Europe. The strategic focus in the premium segment is on major cities such as Vienna, Munich, Frankfurt and Prague. Besides this, UBM operates as a pioneer of Affordable Housing in urban areas with a demand, also outside of major cities. With over 150 years of experience, UBM offers all development services from a single source, from planning to marketing. The company's shares are listed on the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.
(end)
| Emitter: |
UBM Development AG Laaer-Berg-Straße 43 1100 Wien Austria |
|
|---|---|---|
| Contact Person: | Victor Eggenberger | |
| Phone: | +43 664 80 1873 104 | |
| E-Mail: | investor.relations@ubm-development.com | |
| Website: | www.ubm-development.com | |
| ISIN(s): | AT0000815402 (Share) AT0000A35FE2 (Bond) AT0000A3FFK1 (Bond) AT0000A3K955 (Bond) AT0000A3PGY9 (Bond) XS2355161956 (Bond) | |
| Stock Exchange(s): | Vienna Stock Exchange (Official Trade); Free Market in Frankfurt (Scale) |