B-A-L Germany AG: Half-year results for 2026

Meissen (pta016/27.08.2026/09:30 UTC+2)

B-A-L Germany AG closed the first half of 2026 with earnings before interest and taxes (EBIT) of EUR thousand −60.0, compared with EUR thousand −26.0 in the corresponding prior-year period. EBITDA amounted to EUR thousand −29.2, compared with EUR thousand 4.2 in the first half of 2025. After taxes, the result for the first half of the year amounted to EUR thousand −73.1, compared with EUR thousand −38.4 in the prior-year period. Earnings performance was significantly impacted by extensive non-capitalizable renovation and modernization measures, as well as by one-off expenses in connection with the capital increase initiated in the first half of 2026.

Revenue amounted to EUR thousand 187 in the first half of 2026, compared with EUR thousand 196 in the prior-year period. Rental income decreased by 8.2% to EUR thousand 119.3, compared with EUR thousand 129.9 in the first half of 2025, primarily as a result of the sale of three residential units. The average vacancy rate in the first half of 2026 was 7%, slightly above the year-end 2025 level of 5%. The target set out in the 2023 Annual Report of achieving a sustainable occupancy rate of 97% is reaffirmed.

Due to further one-off costs arising in the second half of 2026 in connection with the capital increase, as well as additional non-capitalizable renovation and modernization expenses, the Management Board has adjusted the forecast published in the 2025 Annual Report and now expects EBIT for the 2026 financial year to be in a range of EUR thousand −90 to EUR thousand −100.

For the 2027 financial year, the Management Board expects a significant improvement in earnings and positive EBIT of between EUR thousand 60 and EUR thousand 70, based on the planned expansion of the property portfolio, the targeted reduction in the vacancy rate, and the elimination of significant one-off charges.

The complete financial information for the first half of 2026 will be published today in the 2026 Half-Year Report on the B-A-L Germany AG website. The financial information contained in the Half-Year Report has neither been audited nor subjected to a review by an independent auditor.

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Emitter:	B-A-L Germany AG Poststraße 5 01662 Meißen Germany
Contact Person:	Falko Zschunke
Phone:	+49 3521 459 6539
E-Mail:	f@bal-ag.de
Website:	www.bal-ag.de
ISIN(s):	DE000A1614B2 (Share)
Stock Exchange(s):	Free Market in Dusseldorf