NSI H1 FY26 EPRA EPS drops 20.3% to EUR 0.79; net rental income falls 11.1% to EUR 25.56 million
XLRE•Guidance and capital return
Guidance for full-year EPRA EPS was cut to €1.80-€1.90 from €1.90-€2.05, while an interim dividend of €0.75 was maintained and a buyback of up to 5% was launched.
H1 earnings and rental income decline
NSI NV posted H1 2026 EPRA earnings of €15.33 million, down 19.1%, with EPRA EPS sliding 20.3% to €0.79.
Net rental income fell 11.1% to €25.56 million, while the total investment result widened to a loss of €13.34 million from a loss.
Property values, vacancy and lease-up
EPRA NTA per share dropped 4.9% to €31.39, with investment property down 3.8% to €909.01 million and net LTV edging up 0.7 percentage points to 35%.
EPRA vacancy rose to 11.7% from 9.2%, with lease-up at Vivaldi II slower than expected at 11% occupancy and a 40% year-end target.
