DEMIRE delivers Q3 2026 results in line with expectations and confirms

DEMIRE delivers Q3 2026 results in line with expectations and confirms full-year guidance

• Rental income falls to EUR 33.9 million (previous year: EUR 41.4 million) due to a reduced portfolio

• EBIT returns to positive territory at EUR 10.9 million (previous year: EUR -28.1 million)

• FFO I* falls to EUR 2.8 million (previous year: EUR 8.3 million)

• Guidance for 2026 confirmed: rental income between EUR 42.5 million and EUR 44.5 million; FFO I* between EUR 0.5 million and EUR 2.5 million

Langen, 5 November 2026. DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) reported results in line with its full-year guidance for the first nine months of 2026. Declining revenues following continued property sales remain a key influencing factor.

A reduced portfolio base leads to a decline in rental income and FFO I

Rental income fell to EUR 33.9 million (9M 2025: EUR 41.4 million). Earnings before interest and tax (EBIT) rose to EUR 10.9 million over the same period (9M 2025: EUR -28.1 million). This significant increase is primarily attributable to the substantial negative effects in the prior period arising from high fair value adjustments on properties held for sale, as well as to write-downs on loans granted to the LIMES companies, which have now been deconsolidated (EUR 16.5 million).

Funds from Operations (FFO I) after tax, before minority interests and interests on shareholder loans fell as planned to EUR 2.8 million (9M 2025: EUR 8.3 million) as a result of reduced rental income following property sales.

Negotiations are at an advanced stage regarding further large-scale leases

The smaller portfolio and the continuing challenging economic environment reduced leasing activity in the first nine months of 2026 to 34,100 m² (9M 2025: 56,200 m²). Leasing activity was driven in particular by a lease renewal covering approximately 10,500 m² in Quickborn and a new lease covering approximately 10,000 m² in Bonn. Overall, new leases accounted for 64% of total leasing activity.

The EPRA vacancy rate (excluding properties classified as project developments) rose to 22.6 percent as of September 30, 2026 (December 31, 2025: 16.4 percent). The average remaining term of lease agreements (WALT) for the entire portfolio remained virtually unchanged at 4.6 years (December 31, 2025: 4.7 years).

Dr Dirk Rüffel, CEO of DEMIRE: “The challenging economic environment continues to weigh on the commercial real estate market and, in particular, on demand for larger office spaces. Nevertheless, in addition to leasing over 10,000 m² to the United Nations in Bonn, we have made further progress and are in advanced negotiations regarding additional large-scale leases in several properties.”