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Derwent London PLC REIT (GB:DLN)
LSE:DLN
Earnings Data
Report Date
Aug 06, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.46Last Year’s EPS
0.52Same Quarter Last Year
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a broadly positive strategic and operational picture: strong leasing and asset-management performance, an upgraded ERV outlook (+4% to +7% for 2026), a disciplined plan to recycle up to GBP 1bn of capital, healthy liquidity and a clear development pipeline with attractive IRRs (e.g., Baker Street 11.3%). However, near-term headwinds include higher finance costs after refinancing, a modest rise in vacancy, heavy near-term CapEx and a forecasted 3%–5% dip in 2026 EPRA earnings. Management nonetheless expects earnings growth from 2027 and substantial uplift by 2030, and the balance sheet is being managed conservatively while options (including buybacks) remain under review.Company Guidance
Strategic portfolio positioning
High-quality portfolio with 75% located in the West End and 81% within a 10-minute walk of an Elizabeth line station, targeting strong submarkets and occupier demand.
Strong asset-management performance (record year)
Record asset-management transactions generating almost GBP 60 million of rental income in 2025 (GBP 59m cited), including GBP 37.4m of rent reviews securing >7% above previous rents and new lettings of GBP 11.3m at ~10% above ERV.
Improved ERV guidance for 2026
Management increased 2026 ERV guidance to +4% to +7% for the portfolio based on improving occupational and investment market dynamics.
Development pipeline delivering income
Major schemes: 25 Baker Street delivering ~GBP 18m net-effective annualized rent (GBP 22m headline) and an ungeared IRR of 11.3%; Network expected to deliver ~GBP 11m net-effective (GBP 13.7m headline) with IRR 8%–9%. These two projects expected to add ~GBP 18m of rental income in 2026 vs 2025.
Active capital recycling plan
Plan to dispose of up to GBP 1 billion over the next 3 years (versus historic ~GBP 200m pa) with GBP 216m sold in 2025 and contracts/exchanges and offers already progressed (c. GBP 140–145m exchanged YTD, further amounts under offer/negotiation). Management cites up to ~GBP 250m of potential excess capital from the program.
Balance sheet and liquidity strength
Cash and undrawn facilities increased to GBP 627m, Fitch retained A- senior unsecured rating, weighted average unexpired debt term 4.2 years and net debt-to-EBITDA reduced to 9x (target to remain below 9.5x).
EPRA NTA and total accounting return
EPRA NTA rose to 3,225p per share and the group delivered a 5% total accounting return for 2025; EPRA NTA uplift was reported at 2.4% over the year.
Operational momentum into 2026
Strong start to 2026 with GBP 1.5m of new leases completed, GBP 14.4m under offer (including Network), GBP 4.4m in negotiations, and active disposal pipeline supporting redeployment into higher return opportunities.
GB:DLN 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
GB:DLN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 26, 2026 | 1830.00p | 1757.00p | -3.99% |
Aug 12, 2025 | 1889.79p | 1773.58p | -6.15% |
Feb 27, 2025 | 1851.34p | 1788.19p | -3.41% |
Aug 08, 2024 | 2154.74p | 2207.75p | +2.46% |
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 Derwent London PLC REIT (GB:DLN) report earnings?
Derwent London PLC REIT (GB:DLN) is schdueled to report earning on Aug 06, 2026, TBA (Confirmed).
What is Derwent London PLC REIT (GB:DLN) earnings time?
Derwent London PLC REIT (GB:DLN) earnings time is at Aug 06, 2026, TBA (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 Derwent London PLC REIT stock?
The P/E ratio of Derwent London plc REIT is N/A.
What is GB:DLN EPS forecast?
GB:DLN EPS forecast for the fiscal quarter 2026 (Q2) is 0.46.