LEG Immobilien SE (LEG.DE) Wednesday said that its rental growth was 3.7 percent, on a like-for-like basis, in the first quarter. While adjusted EBITDA rose 6 percent, its AFFO fell from a year ago. The company also confirmed its annual outlook.
The German residential property company said that first-quarter net operating income climbed 5.2 percent to 195.8 million euros from 186.0 million euros in the same period last year. Adjusted EBITDA rose 6 percent in the first three months to 183.6 million euros from 173.4 million euros in fiscal 2025.
According to LEG Immobilien, FFO I for the period rose to 114.7 million euros from 114.3 million euros in the year-ago quarter, and FFO II also increased 1.9 percent to 114.5 million euros from 112.4 million euros in the prior-year quarter.
Quarterly AFFO declined 6 percent to 58.6 million euros or 0.78 euros per share from 62.3 million euros or 0.84 euros per share in the year-ago period.
Looking ahead, LEG Immobilien reaffirmed its fiscal 2026 outlook of like-for-like rental growth of 3.8 percent to 4.0 percent, an adjusted EBITDA margin of around 78 percent, and AFFO of 220 million euros and 240 million euros.
On the XETRA Exchange, LEG.DE ended Tuesday's trading at 58.20 euros, down 2.02 percent.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.