DIMAND posts 54% rise in pre-tax profit, expands €2.19B pipeline

The Group’s operating profit rose 19.3% to €17.1 million, from €14.4 million in the corresponding period of 2025. Pre-tax profit attributable to the company’s shareholders increased by 53.6% to €22.7 million, from €14.8 million a year earlier.

At the same time, DIMAND’s Net Asset Value (NAV) increased to €240.1 million, reflecting the expansion of its investment base and the continued development of its projects.

Andriopoulos: Stronger Performance Expected in 2026

Commenting on the results, DIMAND CEO Dimitris Andriopoulos said the first-half figures confirm the Group’s continued growth momentum and the smooth implementation of its business strategy.

He noted that higher profitability, increased NAV and the expansion of the portfolio through selective investments and strategic partnerships reflect the company’s strategic choices.

Taking into account agreements and transactions completed after June 30, 2026, management expects full-year results to be even stronger.

New Investments in Ktima Kampa and Mesogeion Avenue

During the first half, DIMAND continued implementing its investment programme, with two developments standing out.

The first was the acquisition of 100% of Kantza Commercial S.A., which owns approximately 315,000 sq m of land in the Ktima Kampa area, spanning the municipalities of Pallini and Paiania.

DIMAND also acquired two plots with a combined area of approximately 5,700 sq m in the Kampa Triangle area of Pallini, further strengthening its presence in the wider area.

The second major development was the launch of an investment partnership with PPC for the joint development of a new model bioclimatic office complex at the former Plessa military camp on Mesogeion Avenue.

For the project, Powerhub Properties S.A. was established, with DIMAND and PPC each holding a 50% stake.

Gross Development Value Reaches €2.19 Billion

DIMAND significantly expanded its development pipeline.

As of June 30, 2026, the Group’s portfolio included 16 investment projects, compared with 13 at the end of 2025. The projects are at different stages of development and completion and include offices, logistics facilities, residential properties, hotels and mixed-use developments in urban areas across Greece.

The estimated Gross Development Value (GDV) of the projects upon completion reached €2.193 billion, compared with €1.357 billion at the end of 2025.

This represents an increase of approximately €836 million, largely reflecting the addition of new projects to the portfolio.

Meanwhile, the fair value of the Group’s real estate investments, including inventories, reached €241.3 million, compared with €174.6 million at the end of 2025.

The fair value of investments in joint ventures also increased to €111.4 million, from €96.4 million at the end of the previous financial year.

Higher Liquidity, Increased Net Debt

The Group’s cash and cash equivalents stood at €58.1 million as of June 30, 2026, compared with €50.1 million at the end of 2025.

Including restricted cash, available funds amounted to €61.4 million, compared with €53.4 million at year-end.

Net debt increased to €80.4 million, from €45.6 million at December 31, 2025, reflecting the acceleration of the Group’s investment activity.

As a result, the Net LTV ratio rose to 32%, from 24% at the end of 2025. According to management, despite the increase in leverage, the ratio remains at comparatively low levels.

Strong Pipeline for the Remainder of 2026

The first-half results highlight a Group that is expanding its investment footprint, with its development portfolio increasing both in terms of the number of projects and their overall value.

The rise in GDV to €2.19 billion, together with the new Ktima Kampa investments and the partnership with PPC for the Mesogeion Avenue project, significantly expands DIMAND’s pipeline for the coming years.

The strong growth in earnings and NAV during the first half, combined with transactions completed after the end of the reporting period, provides the basis for management’s expectations for further improvement in the Group’s overall performance in 2026.