HAMBORNER REIT AG announces adjustment to portfolio strategy and publishes forecast for the 2026 financial year
23.02.2026 - 14:19:53 | dgap.de| HAMBORNER REIT AG / Key word(s): Strategic Company Decision/Forecast 23.02.2026 / 14:19 CET/CEST The issuer is solely responsible for the content of this announcement. PRESS RELEASE Concentration of strategic focus on retail properties in the local supply sector and DIY stores Expansion of investment profile to include core plus properties and adjustments in terms of lot sizes, locations, and tenant structures Medium-term reduction of the office share to 10–20% of the total portfolio volume Maintaining of target ratio for manage-to-core properties of 10–20% Expected reduction in revenue and operating result in financial year 2026 ADJUSTMENT OF THE PORTFOLIO STRATEGY Duisburg, 23 February 2026 – The retail property market, particularly in the food-oriented segment, remains comparatively stable and offers attractive future prospects. In contrast, the office market in Germany is subject to significant structural changes with possible long-term economic impacts. Among other factors, shifts in working models, demographic changes as well as the topics of digitalization and artificial intelligence are playing an increasingly significant role. The resulting growing user demands on the location, building, and space characteristics of office properties are leading to changes in investment requirements and risk-return assessments. In view of these assessments, the company's Management Board, following a strategic review and in close consultation with the Supervisory Board, has decided to further develop the corporate strategy. In future, the company will focus its strategy on retail properties in the local supply sector and DIY stores, positioning itself on the market as a retail REIT. HAMBORNER benefits in this respect from both its years of experience in building up its existing high-quality portfolio and its extensive network. The central element of the portfolio strategy with a focus on core properties characterized by long-term, solid leasing situation and a stable income structure remains unchanged. In addition, the company intends to make investments in the core plus segment in the future, which offer additional return and value potential with moderate risks and comparatively low investment and management needs. Besides that, the company plans to continue adding selected manage-to-core properties with increased letting, modernisation or repositioning requirements in order to unlock the resulting optimisation and value growth potential. The defined target ratio for manage-to-core properties remains unchanged at 10-20% of the total portfolio volume. As part of its strategic realignment, the company's acquisition profile is being selectively further developed and made more flexible. Going forward, in addition to its existing investment criteria, the company will also consider retail properties with an acquisition volume below €10 million, in order to broaden market access and increase its transactional capabilities. The investment spectrum within Germany will also be expanded regionally. In addition to the existing focus on metropolitan regions, attractive medium-sized and larger regional centres as well as rural main supply locations will be increasingly considered to take advantage of additional market opportunities. Furthermore, the company intends to further diversify its tenant structure in the future. In addition to established, creditworthy chains from the food retail and DIY sectors, complementary concepts in the areas of local supply and specialty retail will be added to the portfolio. This particularly includes additional providers from the FMCG (fast-moving consumer goods) and FMCG-related segments, whose business models are based on the regular, short-term demand for everyday goods and are characterized by high customer traffic as well as sustainably stable revenue structures. Of particular note are drugstores, non-food discount retailers, household goods and pet supply stores, as well as selected textile formats with high product turnover. As part of the strategic focus, the share of office properties in the total portfolio volume is to be reduced to 10–20% in the medium term. The adjustment is intended to be carried out gradually and in a results- and value-optimized manner, through selective disposals and the reallocation of the released capital into retail properties. Depending on further developments in the office market and the transaction environment, the company reserves the right to further reduce the office share of its portfolio over the long term. By reducing the office share and focusing on the retail properties described above, the company aims to maximize the growth potential of its platform, which has been further developed over recent years through an extensive transformation process, while maintaining an attractive risk and return profile. FORECAST FOR THE 2026 FINANCIAL YEAR The company’s Management Board today provided an initial assessment of the expected business development for the current year 2026. This is influenced by the continuing challenging macroeconomic environment and the ongoing uncertainty regarding further developments in the real estate and rental market. Based on current expectations, income from rents and leases for the 2026 financial year will amount to between €87.5 million and €89.5 million (current forecast for fiscal year 2025: €89.5–90.5 million). The decline compared with the previous year is mainly due to the selective disposal properties carried out in 2025. Funds from operations (FFO) are expected to range between €38.0 million and €42.0 million in the financial year 2026 (current forecast for the financial year 2025: €44.0–46.0 million). The expected decline results, on the one hand, from reduced rental income as a result of property disposals and, on the other hand, from higher expenses compared with the previous year. A significant part of the increasing cost burden is attributable to maintenance. This is due, on the one hand, to a postponement of measures originally planned for 2025 and, on the other hand, to additional expenses for ongoing maintenance as well as for measures in connection with letting activities in 2026, which are reflected in increased costs for tenant improvements. In addition, the company anticipates an increase in real estate operating expenses, which is primarily attributable to positive one-time effects from the previous year. During the 2025 financial year, the integration of new external facility management service providers led to a temporary reduction in services and associated costs during the transition phase. In the 2026 financial year, the company expects services to return to regular levels or to be selectively expanded, with corresponding effects on current operating expenses. Following a reduction in total liabilities and the associated interest costs in 2025, which resulted from the repayment of loans, an increase in interest expenses is expected for the current financial year. This is largely due to the refinancing of several mortgage-backed loans at higher interest rates in the second half of 2025. Further effects on operating result arise from increasing personnel capacities and filling vacant positions throughout 2025 and the first half of 2026, which is reflected in a projected increase in personnel costs. In view of the continuing uncertainties and limited momentum in the real estate investment market, the timing and volume of possible property acquisitions and disposals as well as resulting effects on revenue and earnings remains difficult to predict. For this reason, the company has decided not to include any purchases or disposals in its forecast. The company will provide further information on the expected business development and strategic adjustments in the course of the scheduled publication of the preliminary business figures for 2025 on Thursday, February 26, 2026. ABOUT HAMBORNER REIT AG HAMBORNER REIT AG a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around €1.4 billion. The portfolio focuses on attractive local supply properties such as large-scale retail assets, retail parks and DIY stores in city-centre locations, district centres and highly frequented edge-of-town sites in large and medium-sized German cities, as well as modern office properties in established locations. HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainably attractive dividend strategy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level. CONTACT Christoph Heitmann Head of Capital Markets, Financing & Sustainability T.: +49 (0)203 54405-32 M: info@ir.hamborner.de W: www.hamborner.de DISCLAIMER This press release has been issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from HAMBORNER's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by HAMBORNER and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should therefore not be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. HAMBORNER accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. HAMBORNER does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. HAMBORNER is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release. 23.02.2026 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. View original content: EQS News |
| Language: | English |
| Company: | HAMBORNER REIT AG |
| Goethestraße 45 | |
| 47166 Duisburg | |
| Germany | |
| Phone: | 0203/54405-0 |
| Fax: | 0203/54405-49 |
| E-mail: | info@hamborner.de |
| Internet: | www.hamborner.de |
| ISIN: | DE000A3H2333 |
| WKN: | A3H233 |
| Indices: | SDAX |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Hamburg, Hanover, Munich, Stuttgart, Tradegate BSX |
| EQS News ID: | 2280076 |
| End of News | EQS News Service |
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DE000A3H2333 | HAMBORNER REIT AG
