Nextensa NV(NEXTAB.XD,NEXTA.BR), a property investor and developer, on Monday reported higher first-quarter profit despite a decline in rental income and earnings from development projects.
In the quarter, lower financing costs and portfolio adjustments helped offset weaker top-line contributions.
For the first quarter, net profit group share climbed to 9.58 million euros from 7.83 million euros last year.
Earnings per share jumped to 0.94 euro from 0.77 euro a year earlier.
Net financial costs decreased by 2.8 million euros year-over-year, mainly due to a lower average debt level.
Rental income, meanwhile, declined to 13.60 million euros from 15.95 million euros in the prior year following several divestments in 2025.
Income from development projects fell to 1.61 million euros from 3.37 million euros in the previous year.
Net asset value or NAV group share was 84.18 euros, higher than 83.15 euros last year.
Looking ahead, Nextensa expects its development pipeline to become the main driver of results amid the decreasing contribution from the investment portfolio following disposals.
The start of construction of key projects at Cloche d'Or, including The Rock, Terraces and Eosys, is expected to support margin recognition from the second quarter and further accelerating in the second half of 2026.
On the Brussels stock exchange, shares of Nextensa were gaining 0.11 percent, changing hands at 47.25 euros.
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