During the first half of fiscal year 2026, BriQ Properties REIC (the “Company” or the “Group”):
I. INCREASED THE VALUE OF ITS REAL ESTATE PORTFOLIO
On June 30, 2026, the Company’s real estate portfolio included 52 properties with a fair value of €296 million, based on the valuations of 30.06.2026, compared with 51 properties worth €282 million on 31.12.2025.
The breakdown of the portfolio value as of 30.06.2026 is analyzed into logistics 35%, offices 26%, retail stores 23%, hotels 14% and other uses 2%.
During the first half of 2026, the Group made investments totaling €7.2 million, which include:
• the purchase of a 10,555 sq.m. plot in Metamorfosi, Attica for €3.6 million (including acquisition expenses of €96 thousand), with the aim of developing a new high-specification industrial building, with an area of 4,180 sq.m. For the development, the Company will invest an additional €3.4 million during 2027-2028, while it has already signed a 25-year lease agreement with a company in the food sector with a gross yield of 7.5%.
The delivery of the building is estimated to take place in mid-2028. Other uses 14% 2%
• the completion of the construction of AENORA Offices, 2,393.40 sq.m., with LEED Gold certification specifications on Poseidonos 42 in Kallithea, Attica and
• the start of construction of the 3rd warehouse and distribution building (KAD3) with a total area of 7,828.81 sq.m. at the Aspropyrgos Logistics Park, for which a 10-year lease has already been signed. Delivery of KAD 3 is estimated to take place in October 2027.
In addition, in April 2026 the property at D. Gounari 3 in Piraeus was delivered to the tenant, which is to be converted at its expense into a 45-room 4-star hotel under the name “The Modernist Piraeus”. The hotel is estimated to be ready to operate during the summer season of 2027.
II. INCREASED NET PROFITS: The Company presented increased profits in the first half of 2026, compared with the corresponding period of the previous year.
More specifically:
▪ Rental income remained at €10.7 million compared with €10.9 million, despite the reduction in the number of investment properties following the sale of eight (8) properties during fiscal year 2025, as the loss of rents from the sold properties was offset by the annual adjustments and amendments of the existing leases.
▪ Gains from the revaluation of properties at fair value amounted to €6.7 million compared with €2.3 million for the corresponding period last year.
▪ Following the sale of the 8 properties during 2025, as a result of the capital recycling program implemented by the Company, as well as consistent management, direct property-related expenses including ENFIA, as well as the Company’s other operating expenses, were reduced by 18% and amounted to €1.6 million compared with €1.9 million.
▪ As a result of the reduction in expenses, adjusted1 earnings before interest, taxes and depreciation (Adjusted EBITDA) increased marginally and amounted to €9.1 million, compared with €9.0 million.
▪ The Company’s profitability margin (Adjusted EBITDA / Rental income) amounts to 85% with a corresponding cost-to-income ratio (Cost Ratio) of 15%.
▪ Adjusted earnings before taxes (Adjusted EBT) increased by 21% and amounted to €7.3 million, compared with €6.0 million, due to lower borrowing rates (3.38% vs. 4.09%) and a 15% reduction in borrowing (€106.0 million vs. €124.6 million) following the 2025 capital recycling program.
▪ Adjusted1 net profits after taxes increased by 25% and amounted to €6.8 million compared with €5.5 million, while adjusted1 net earnings per share (Adj. EPS) were 0.145/share, compared with €0.122/share.
▪ Funds from operations (F.F.O.) increased by 25% and amounted to €6.1 million, compared with €4.9 million, while F.F.O. per share increased by 19% to €0.130/share compared with €0.109/share.
Regarding the Group’s balance sheet figures as of 30.06.2026 compared with 31.12.2025, the following key figures are presented:
▪ Total equity (N.A.V.) attributable to the Company’s shareholders on June 30, 2026 increased by 6.2% and amounts to €184.5 million compared with €173.7 million on December 31, 2025, while NAV / share increased by 4.0% and amounted to €3.87 compared with €3.72.
▪ Total borrowing remained at low levels at €106.0 million compared with €101.9 million on December 31, 2025, corresponding to L.T.V. (Loans / Real estate investments) of 35.8% and Net L.T.V.
((Loans – Cash and cash equivalents)/Real estate investments) at 34.4%, compared with 36.2% and 34.6% respectively on December 31, 2025.
▪ The Company is protected from interest rate volatility, as 97% of the Company’s loan obligations as of 30.06.2026 bear a fixed preferential interest rate, due to interest rate swap (IRS) agreements entered into during the period October 2025 – February 2026 totaling €100 million and loan agreements amounting to €3.0 million under the RRF, resulting in the weighted average cost of debt (WACD) for the first half of 2026 amounting to 3.38%. The Company has entered into a total of 5 bond loans totaling €21.5 million under the RRF concerning investment plans totaling €29.2 million, and 50% of each investment plan is financed at an exceptionally preferential fixed interest rate of 0.35%.
III. PROTEPOSES THE DISTRIBUTION OF AN INTERIM DIVIDEND:
Following the approval of the Financial Results for the first half of 2026, the Company’s Board of Directors proposes the distribution of an interim dividend to shareholders in the net amount of €0.10 per share, i.e. a total amount of €4.8 million, increased by 25% per share compared with the interim dividend of the corresponding period last year (€0.08 / share).
The dividend distribution will be made through the four-year dividend reinvestment program (2025 – 2028) as approved by the Annual General Meeting of April 29, 2025, giving shareholders the option, if they so wish, to reinvest in new shares of the Company the amount of the dividend due to them, in whole or in part.
The dividend distribution is scheduled to take place on Thursday 26.11.2026, when the new shares will simultaneously be admitted to trading.
IV. FORECASTS FOR 2026:
The Company’s priority for 2026 remains the development of its properties in Aspropyrgos, Paros and Metamorfosi, which are expected to be completed during fiscal years 20272028. In addition, the Company continues to seek investment opportunities in the real estate markets in which it operates, to implement an energy upgrade program for its real estate portfolio, and to remain focused on maximizing its rental income, alongside prudent management of its expenses.
Management estimates that the results will continue the upward course recorded in the first half, with the result that net distributable profits will be higher compared with 2025, in line with the Company’s longstanding policy of high dividend yield.