PRODEA Investments announces that adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) amounted to €49.9 million in the 1st half of 2026 compared to €31.0 million in the 1st half of 2025, also reflecting the realization of capital gains from the sale of investment properties.
The group's turnover in the 1st half of 2026 amounted to €75.2 million compared to €112.4 million in the 1st half of 2025.
The decrease is mainly due to rental income being formed at €29.2 million compared to €69.1 million as a result of the implementation of the company's strategy aimed at reshaping the composition of the investment portfolio with an emphasis on commercial warehouses and the hotel sector and, on the other hand, the sale of mature or non-strategic properties or property portfolios in all the countries where the group operates.
It is noted that revenues from the hotel sector increased and amounted to €33.2 million compared to €25.7 million in the 1st half of 2025, positively affected mainly by the reopening of the 5-star hotel The Landmark Nicosia Autograph Collection.
Operating profits for the period, adjusted for gains from the revaluation of real estate investments at fair value, depreciation, non-recurring expenses and other non-cash items, amounted to €9.4 million. compared to €41.4 million, while the result for the period, adjusted as above, amounted to a loss of €11.5 million compared to a profit of €4.7 million in the 1st half of 2025.
The group's total comprehensive income amounts to €4 million.
The main factors that affected the half-year results are, on the one hand, the increase in revenues from the hotel sector, the reduction in direct expenses related to properties, real estate taxes and duties, and financial expenses, and on the other hand, the aforementioned decrease in rental income and the increase in depreciation of the hotel pillar.
The fair value of assets under management amounted to €1,926.2 million compared to €1,952.5 million on 31 December 2025.
On 30.06.2026, the group's cash and cash equivalents amounted to €206.8 million and the company's to €121.5 million. From 30.06.2025 until today, the group has reduced its debt obligations by €712.8 million. On 30.06.2026, the group's net LTV was 46%.
The group's Net Asset Value (NAV) on 30 June 2026 amounted to €3.94 per share.
The Chief Executive Officer, Mr. Aris Karytinos, states:
«As we have already announced, our group is in a transitional phase during which we are reshaping the composition of our portfolio in order to develop specific pillars with an emphasis on logistics and high-end hospitality, while continuing the exploitation and management of selected commercial properties. At this stage, we are developing our new product in the focus pillars by leveraging our strong capital adequacy. It is worth noting the following: • Our collaboration in the logistics sector with Invel Real Estate and LGT Capital partners was recently announced, proving the confidence of institutional investors in the expertise and capabilities of our group.
• The full renovation and repositioning of the hotel The Landmark Nicosia – Autograph Collection has already been completed, while the renovations of our hotel units in Paros and Porto Heli are being launched and the full reconstruction of Emblems in Cortina (Italy) is progressing rapidly.
• The capital gains in the valuations of our investment properties, which for many years were recorded “on paper,” were confirmed by the market through the sales we have carried out in recent years and which allowed us to proceed, for the 2025 financial year alone, with a dividend distribution of €455.2 million.
PRODEA Investments continues its investment activity in line with its current strategy with the aim of creating added value for its shareholders.»