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LEG Immobilien (DE:LEG)
XETRA:LEG
Germany Market
LEG
LEG Immobilien
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LEG Immobilien (LEG) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date
Aug 04, 2026
Before Open (Confirmed)
Period Ending
2026 (Q2)
Consensus EPS Forecast
1.64
Last Year’s EPS
1.22
Same Quarter Last Year
Analyst Consensus
Moderate Buy
Based on 10 Analysts Ratings

Earnings Call Summary

Q1 2026
Earnings Call Date:May 13, 2026|
% Change Since:
|
Earnings Call Sentiment|Positive
The call emphasized operational strength: steady like‑for‑like rent growth, margin expansion, strong cash generation, ample liquidity and disciplined balance‑sheet management. The company reconfirmed 2026 guidance and articulated clear mid‑term growth levers. Key challenges are a softer transaction market, higher refinancing costs on new issuance, timing/phasing effects on AFFO, and valuation/maturity timing risks that could make the 45% LTV target more difficult. Overall, positives around cash resilience, margin expansion and liquidity materially outweigh near‑term execution and market uncertainties.
Company Guidance
LEG fully reconfirmed 2026 guidance with AFFO of EUR 220–240m and FFO I of EUR 475–495m, an adjusted EBITDA margin around 78% and like‑for‑like rent growth steering into a 3.8–4.0% corridor (Q1 LFL 3.7%, net cold rent +3.3%); Q1 AFFO was EUR 58.6m, operating cash flow rose 14.5% YoY and adjusted EBITDA margin in Q1 was 77.4%. Balance‑sheet and financing metrics highlighted: LTV 46.2% (target ~45%), liquidity ~EUR 508m, hedging ratio ~98%, interest coverage 4.2x, average debt cost 1.8%, average maturity 5.8 years, 2026 maturities ~EUR 233m fully covered and next material bond EUR 500m in Nov‑2027. Other guidance/operational metrics: Q1 investments EUR 98m (EUR 8.82/sqm) with full‑year >EUR 35/sqm expected, vacancy 2.4%, disposal program up to 5,000 units (YTD ~1,000 units, EUR 74m proceeds), H1 valuation flat to +1%, and medium‑term AFFO growth ~5% (contributors: ~1ppt rent from subsidized units in 2028, ~EUR 20m Green Ventures by 2028, ~EUR 10m digital/AI by 2030); a scrip dividend (c.38% take‑up) would retain ~EUR 85m and lower LTV ~40bps.
On track for 2026 targets; guidance reconfirmed
Management reiterates full-year guidance: AFFO EUR 220–240m, FFO I EUR 475–495m and adjusted EBITDA margin ~78%. Q1 performance described as fully on track.
Strong like‑for‑like rent growth
Like‑for‑like rent growth of 3.7% in Q1 (average rent per sqm EUR 7.15); net cold rent rose 3.3%.
EBITDA margin expansion
Adjusted EBITDA margin expanded by 180 basis points year‑on‑year to 77.4%, demonstrating operational leverage.
AFFO and operating cash flow resilience
Q1 AFFO EUR 58.6m (within full‑year guidance range) and operating cash flow increased 14.5% year‑on‑year.
Balance sheet strength and liquidity
Liquidity > EUR 500m (cash and equivalents EUR 508m); hedging ratio ~98%; interest coverage ratio 4.2x; net debt fell by ~EUR 100m.
Improving LTV and disciplined deleveraging plan
LTV improved by 60 basis points vs year‑end 2025 to 46.2% and declined 220 basis points versus Q1 2025. Disposal program of up to 5,000 units and planned scrip dividend (prior acceptance ~38%) expected to retain ~EUR 85m and reduce LTV by ~40 bps if repeated.
Refinancing execution and maturity profile
Average debt cost 1.8% (25 bps above Q1 2025), average maturity 5.8 years. Closed ~EUR 350m refinancing in Q1 at average maturity 9.5 years and average rate 3.8%. 2026 maturities (~EUR 233m) are fully covered on a pro‑forma basis.
Operational portfolio metrics supportive
Like‑for‑like vacancy stable at a low 2.4%. Q1 adjusted investments EUR 98m (EUR 8.82/sqm), with deliberate more even quarterly CapEx phasing expected for 2026.
Medium‑term growth levers
Management targets ~5% mid‑term AFFO growth: subsidized units unlocking (~+1 pp rent growth from 2028), Green Ventures ~EUR 20m contribution by 2028, and digital/AI efficiency ~EUR 10m by 2030.
Disposals executed at/above book value
Year‑to‑date ~1,000 units signed/completed for ~EUR 74m proceeds (250 units transferred in Q1 for ~EUR 18m), with remaining ~750 units (~EUR 56m) scheduled from Q2; disposals deliberately limited to noncore and at/above book.

LEG Immobilien (DE:LEG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
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DE:LEG Earnings History

Report Date
Fiscal Quarter
Forecast / EPS
Last Year's EPS
EPS YoY Change
Press Release
Slides
Play Transcript
Aug 04, 2026
2026 (Q2)
1.64 / -
1.22―――
May 13, 2026
2026 (Q1)
1.50 / 1.09
0.9910.10% (+0.10)――
Mar 05, 2026
2025 (Q4)
1.51 / -5.16
1.7-403.53% (-6.86)――
Nov 12, 2025
2025 (Q3)
1.55 / 8.50
1.5466.67% (+7.00)――
Aug 07, 2025
2025 (Q2)
1.75 / 1.22
-1.94162.89% (+3.16)――
May 13, 2025
2025 (Q1)
1.42 / 0.99
0.70640.23% (+0.28)――
Mar 10, 2025
2024 (Q4)
1.52 / 1.70
-7.358123.10% (+9.06)――
Nov 08, 2024
2024 (Q3)
1.61 / 1.50
0.669124.22% (+0.83)――
Aug 09, 2024
2024 (Q2)
-5.09 / -1.94
-15.0887.14% (+13.14)――
May 15, 2024
2024 (Q1)
1.14 / 0.71
1.299-45.65% (-0.59)――
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:LEG Earnings-Related Price Changes

Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
May 13, 2026
€55.31€54.17-2.06%
Mar 05, 2026
€62.77€61.96-1.29%
Nov 12, 2025
€61.25€62.15+1.47%
Aug 07, 2025
€67.80€68.71+1.33%
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 LEG Immobilien (DE:LEG) report earnings?
LEG Immobilien (DE:LEG) is schdueled to report earning on Aug 04, 2026, Before Open (Confirmed).
    What is LEG Immobilien (DE:LEG) earnings time?
    LEG Immobilien (DE:LEG) earnings time is at Aug 04, 2026, Before Open (Confirmed).
      Where can I see when companies are reporting earnings?
      You can see which companies are reporting today on our designated earnings calendar.
        What companies are reporting earnings today?
        You can see a list of the companies which are reporting today on TipRanks earnings calendar.
          What is the P/E ratio of LEG Immobilien stock?
          The P/E ratio of LEG Immobilien is N/A.
            What is DE:LEG EPS forecast?
            DE:LEG EPS forecast for the fiscal quarter 2026 (Q2) is 1.64.