Peach Property Group AG: Clear operational improvement in first half-year 2026 – Guidance confirmed
Zürich (pta033/31.08.2026/18:45 UTC+2)
(All figures for the first half of 2026 are preliminary)
Ad hoc announcement pursuant to Art. 53 LR
- Average in-place rent in the Strategic Portfolio increases to EUR 6.68/m²; vacancy rate nearly halved and declines to 3.3 %
- NOI margin of the Strategic Portfolio improves to around 75 %
- Group Adjusted EBITDA increases by 25 % to around EUR 30 million compared with the prior-year period
- Funds from Operations (FFO) amount to around EUR 9 million despite disposals in the first half of the year
- Portfolio sale from December 2025 largely completed; additional 292 units sold and further 359 units notarised
- Repayment of loans totalling around EUR 170 million; Loan-to-Value ratio decreases to around 45 %
- Disposal of Swiss development project Peninsula nearly completed
- Positive operational development supports implementation of Strategy 2028
Peach Property Group AG ( «Peach Property Group»), a real estate investor focused on residential real estate in Germany, further improved its operational performance in the first half of 2026, according to preliminary figures.
Strategic Portfolio delivers higher profitability and continues to perform in line with expectations
As of 30 June 2026, the Strategic Portfolio comprised around 16,200 residential units, corresponding to 80 % of the total portfolio and around 85 % of total rental space. The market value of the core portfolio amounted to around EUR 1.5 billion as of 30 June 2026, compared with a total portfolio value of just over EUR 1.8 billion. Average in-place rent in the Strategic Portfolio increased to EUR 6.68/m², compared with EUR 6.47/m² as of 30 June 2025 representing growth of 3.2 %. Average market rent in the core portfolio stood at EUR 7.54/m² as of the reporting date (30 June 2025: EUR 7.38/m²), providing rental growth potential of approximately 13 %. Like-for-like net rental income increased by 5.1 % to EUR 42.3 million. Vacancy in the Strategic Portfolio also continued to improve, declining to 3.3 % based on target rent, compared with 6.3 % as of 30 June 2025. NOI of the Strategic Portfolio amounted to around EUR 32 million (30 June 2025: EUR 29.5 million). As a result, the NOI margin improved to 75 %, underlining the increasing profitability of the Strategic Portfolio.
At Group level, Adjusted EBITDA amounted to around EUR 30 million as of 30 June 2026 (30 June 2025: EUR 23.8 million). The Group's FFO reached around EUR 9 million in the first half of 2026 and therefore remains well on track to achieve the guidance of EUR 17 million to EUR 19 million for the 2026 financial year. This development confirms expectations for the current financial year.
Non-Strategic Portfolio further reduced
The sale of around 2,000 residential and commercial units notarised in December 2025 was largely completed in the first half of 2026. More than 85 % of the purchase price proceeds have already been received. The transaction generated net cash inflows of more than EUR 40 million. In addition, the Group also completed a number of additional individual and portfolio transactions. In total, a further 292 units were transferred, and an additional 359 units have already been notarised. Taking into account all notarised disposals, the remaining Non-Strategic Portfolio comprises around 3,000 units with a market value of approximately EUR 185 million. As of 31 December 2025, this portfolio still consisted of 5,399.
Swiss development project nearing completion
The disposal of the Swiss development project Peninsula is substantially complete. All residential units have now been sold, and the majority has already been handed over to the respective buyers. Full repayment of the project-related financing is expected by the end of 2026. The remaining investment properties in Wädenswil were also sold at the beginning of July. Closing of the transaction is expected in the second half of the year.
Capital structure further simplified
Following the disposals, loans totalling around EUR 170 million were repaid in the first half of the year. Among other things, after the successful tender offer in March 2026, the remaining amount of CHF 34.88 million under the convertible bond due in May 2026 was fully repaid. Together, these measures further improved the maturity profile of the Group's financial liabilities. The next scheduled loan maturity of around EUR 60 million will only fall due for refinancing in March 2028. The Loan-to-Value ratio decreased to around 45 %, compared with 49.2 % as of 31 December 2025. The Group remains committed to its medium-term target of sustainably reducing the LTV to below 45 %. The valuation of the portfolio increased by around 1 % due to investments and operational improvements.
Outlook 2026
Peach Property Group confirms its guidance for the 2026 financial year. The Company continues to expect FFO of EUR 17 million to EUR 19 million, like-for-like rental growth in the Strategic Portfolio of around 6.0 %, and a reduction in the vacancy rate in the Strategic Portfolio to around 3.5 % for the 2026 financial year. This would correspond to a vacancy rate of 2.8 % at year-end 2026. The operational improvements achieved to date are expected to translate into further profitability gains over the remainder of the year. Driven by continued rental growth and further vacancy reduction, the focus remains on improving the NOI margin, increasing rental income and further simplifying the capital structure.
In view of the overall positive trend, the Board of Directors of Peach Property Group has resolved to initiate, with the involvement of external advisors, an evaluation of strategic options for the future direction of the Group. The process is at an early stage. There is currently no certainty or assurance that the process will result in a transaction or any other strategic step. The Board of Directors will assess the results of this process in due course and decide on any further steps, taking into account the interests of the Group and its shareholders. Any communication to the market will be made in accordance with applicable legal and regulatory requirements.
Gerald Klinck, Chief Executive Officer and Chief Financial Officer of Peach Property Group:«The first half of 2026 marks an significant milestone for Peach Property Group. We have delivered on our commitments: the Group's balance sheet transformation is essentially complete, our portfolio strategy is taking effect and operational performance is improving. At the same time, with the repayment of the convertible bond, the improved maturity profile of our financial liabilities, the disposals from the Non-Strategic Portfolio and the substantial completion of the Swiss development project, we have made significant progress on key strategic priorities. The results achieved to date confirm our ambitious targets for 2026 and provide the basis for the continued consistent implementation of our Strategy 2028.»
Contacts:
Media, investors, and analysts
Gerald Klinck, Chief Executive Officer and Chief Financial Officer
+41 44 485 50 00 | investors@peachproperty.com
Media Germany
Rosenberg Strategic Communications GmbH & Co. KG
Jorg Keller, Director
+49 151 61527741 | j.keller@rosenbergsc.com
About Peach Property Group AG
Peach Property Group is a real estate investor with its investment focus on residential real estate in Germany. The group stands for many years of experience, expertise, and quality. Innovative solutions for tenants' needs, strong partnerships, and a broad value chain round out the profile, while digitalization and sustainability shape the operating business. The portfolio consists of high-yield properties, typically in German Tier II cities in the catchment area of metropolitan areas. Its activities therefore span the entire value chain, from site evaluation and acquisition to active asset management and the leasing or sale of real estate. In addition, the group develops selected properties in Switzerland for sale as condominiums, with the "Peninsula Wädenswil" development project being the last such project.
Peach Property Group AG is headquartered in Zurich and has its German group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366). The Board of Directors comprises Michael Zahn (Chairman), Cyrill Schneuwly, Beat Frischknecht, Urs Meister and Alexander Hesse.
Further information is available at https://peachproperty.com.
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| Emitter: |
Peach Property Group AG Neptunstrasse 96 8032 Zürich Switzerland |
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|---|---|---|
| Contact Person: | Gerald Klinck | |
| Phone: | +41 44 485 50 00 | |
| E-Mail: | investors@peachproperty.com | |
| Website: | www.peachproperty.com | |
| ISIN(s): | CH0118530366 (Share) | |
| Stock Exchange(s): | SIX Swiss Exchange; Free Market in Frankfurt, Stuttgart, Tradegate BSX |