LEG Immobilien SE

LEG Immobilien SE reported like-for-like rent growth of 3.7% in the first half of 2026, within its full-year guidance corridor, and confirmed its full-year outlook for adjusted funds from operations of 220 to 240 million euros and funds from operations one of 475 to 495 million euros. Adjusted EBITDA grew 2.3% to 368.1 million euros with a margin of 77.8%, while the portfolio valuation rose 0.7%, marking the fourth consecutive positive revaluation. The loan-to-value ratio declined 210 basis points year-on-year to 45.5%, nearing the target of around 45%, and the company completed 42 million euros in disposals at or above book value. However, AFFO fell 12.7% to 110.5 million euros due to higher cash interest costs and capital expenditure phasing, and the transaction market remains challenging with low volumes and hesitant buyers. The company also highlighted that its Termeus Pro AI thermostat saves an average of 14% in energy consumption, supporting its green ventures growth.