Strategic investments in motion at Trade Estates

Operating profitability remained on an upward trajectory, with adjusted EBITDA reaching €8.2 million, up 4.4%. Net profit showed an even stronger increase, rising 19% year-on-year to €4.9 million in the first quarter of 2026. At the same time, funds from operations (FFO) amounted to €5.3 million, marking a 14.9% increase.

On the balance sheet, total assets stood stable at €661.1 million as of 31 March 2026. Gross Asset Value of the property portfolio edged up to €603 million, while net asset value (NAV) increased to €347 million, or €2.87 per share, compared with €340 million or €2.81 per share at the end of 2025.

Visitor traffic across Trade Estates’ retail parks reached 5.2 million, up 7.7% year-on-year, while total tenant sales amounted to €115.9 million, an increase of 9.5%. On a like-for-like basis, growth stood at 4.6%.

Investment plan of €132.4 million in progress

During the first quarter, the company implemented a series of strategic initiatives to strengthen its portfolio. Among others, it acquired the remaining 55% stake in Evitenco S.A., which owns a new logistics centre in Aspropyrgos set to serve Inter IKEA’s operations across Southeast Europe and the Middle East.

At the same time, the company is participating through a joint venture in the tender for the redevelopment of the Gonos military site in Thessaloniki, aiming to develop a major logistics and business hub.

Trade Estates also acquired a new plot in Heraklion, Crete, for the development of the Top Parks Heraklion 2 retail park, while completing the first Top Parks project in the same area, which is already 80% leased to tenants including Ikea and Sinsay. The company further divested its stake in Sevas Ten S.A., recording a €2.35 million gain, and strengthened the tenant mix of Smart Park with new major retailers such as TGI Fridays, Public, Moustakas, Kiabi, and Pandora.

CEO Dimitris Papoulis stated that first-quarter results confirm a strong start to the year and the resilience of Trade Estates’ business model, despite geopolitical challenges and inflationary pressures. He emphasised that the company remains focused on operational efficiency, prudent financial management, and the execution of its investment plan.