UBM Development AG

UBM Development AG swung to a profit before tax of over EUR7 million in H1 2026, reversing a loss of EUR6 million a year earlier, with revenue up 36% year-on-year. The Austrian property developer sold more than 200 premium apartments, matching last year's record, and executed its first asset sales at or above book value, generating around EUR21 million in cash. Equity stood at EUR374 million with an equity ratio of 36.6%, above the 30%-35% target range, while net debt fell to EUR475 million from EUR546 million, a reduction of EUR71 million. The company also issued EUR25 million in Genussrecht capital in the first quarter. Despite the strong results, management refrained from providing formal guidance for the second half due to market volatility, citing a challenging German market and slower-than-expected hotel asset sales.