Grand City Properties SA (DE:GYC)
XETRA:GYC
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Earnings Data
Report Date
Aug 12, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
0.57Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicates a predominantly positive operational and financial performance: solid like-for-like rental growth (3.5%), record-low vacancy (3.6%), portfolio valuation uplift (+3.2% LFL) and stronger leverage metrics (LTV down to 31%) alongside significant liquidity (EUR 1.6bn). Capital recycling and liability management actions improved coupon profile and extended maturities. Near-term headwinds are mainly financial: higher finance expenses and anticipated higher perpetual coupon costs from 2026 refinancing, a modest decline in FFO I guidance, timing lag for acquisition contributions, and macro/geopolitical uncertainty. Overall, the positives (operational strength, improved balance sheet, liquidity, ESG progress and successful liability management) outweigh manageable financing and timing challenges.Company Guidance
Like-for-like Rental Growth and Occupancy
Total like-for-like rental growth of 3.5% in 2025 (3.3% in-place rent + 0.2% occupancy contribution); vacancy reduced to a historic low of 3.6% (portfolio) and 2.7% in London; in-place rent reached EUR 9.7/sqm (+5% vs Dec 2024, CAGR 4.6% since 2021).
Strong Operational Income and EBITDA
Annualized net rent increased to EUR 429 million (from EUR 413m in 2024); adjusted EBITDA rose 1% to EUR 340 million; net rental income EUR 429 million.
Material Increase in Profit and EPS
Reported profit of EUR 588 million in 2025 vs EUR 242 million in 2024, driven by operational results, positive revaluation and one-off deferred tax income; basic EPS EUR 2.67.
Significant FFO II Uplift
FFO II increased to EUR 351 million in 2025 from EUR 205 million in 2024 (driven by higher profit margins on disposals and larger disposal volume); FFO I remained broadly stable at EUR 188 million.
Portfolio Valuation and Yield Stability
Portfolio value increased to EUR 8.9 billion (from EUR 8.6bn); like-for-like revaluation gain of 3.2% for 2025; rental yield stable at 4.9%; average value per sqm rose to EUR 2,335 (+~6% vs EUR 2,203).
Improved Leverage and Strong Liquidity
LTV decreased to 31% (from 33%); EPRA LTV decreased to 44% (from 46%); cash and liquid assets EUR 1.6 billion; 71% of portfolio unencumbered (EUR 6.4 billion).
Successful Liability Management
Issued EUR 600 million perpetual notes in Dec 2025 at 4.75% while buying back higher-coupon notes; average perpetual coupon reduced from 3.4% to 3.1%; issued EUR 250 million Series H bonds and repaid EUR 260 million of existing bonds.
Capital Recycling and Accretive Acquisitions
Disposals ~EUR 340 million (rent factor ~20, yield ~5.1%) with only ~1% capital loss; acquisitions ~EUR 300 million (London, acquisition factor ~13x, yield ~7.7%); continued capital recycling preserved leverage while upgrading portfolio quality.
ESG and Energy Efficiency Progress
Upgrades from S&P and Sustainalytics (top peer rankings), ISS prime, EPRA Gold award for 9th consecutive year; regulatory-ready assets increased from 78% to 84% (+6 ppt YoY); progress toward CO2 reduction targets.
2026 Guidance Reflects Continued Operational Momentum
Guidance: like-for-like rental growth ~3.5%, adjusted EBITDA expected to increase long single-digit, FFO I guidance EUR 175–185 million (FFO I per share EUR 0.99–1.05); LTV target maintained below 45%.
DE:GYC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:GYC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 12, 2026 | €9.48 | €9.51 | +0.32% |
Mar 04, 2026 | €10.46 | €10.32 | -1.34% |
Nov 13, 2025 | €10.96 | €10.68 | -2.55% |
Aug 13, 2025 | €11.04 | €11.06 | +0.18% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Grand City Properties SA (DE:GYC) report earnings?
Grand City Properties SA (DE:GYC) is schdueled to report earning on Aug 12, 2026, TBA (Confirmed).
What is Grand City Properties SA (DE:GYC) earnings time?
Grand City Properties SA (DE:GYC) earnings time is at Aug 12, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is the P/E ratio of Grand City Properties SA stock?
The P/E ratio of Grand City Properties SA is N/A.
What is DE:GYC EPS forecast?
Currently, no data Available