Citycon Oyj · OMXHEX:CTY1S
Citycon Oyj — Q1 2026 Earnings Presentation
14 slides from Citycon Oyj's earnings presentation, May 15, 2026
Slide 1: Q1/2026 Interim Results
%%- Citycon Interim Results
Slide 2: Q1/2026 quarter highlights
Q1/2026 quarter highlights +4.5% 94.8% +0.9% 28.4 EUR LFL NRI growth*/** Retail economic occupancy Retail avg. rent / sq.m. Retail avg. rent / sq.m. rate increase*/*** +2.1% +3.5% +2.2 MEUR 89.9% LFL footfall LFL tenant sales Fair value net gain NRI margin of investment properties*** *With comparabl
Slide 3: Key achievements in Q1/2026
Key achievements in Q1/2026 – General mall leasing income growth of above 25% in Q1/2026 versus Q1/2025 – New leases signed 18,700 sqm – 17.5% decrease in administrative expenses compared to Q1/2025 – We have signed two new loans for EUR 490m, additionally we have a EUR 250 million accordion option
Slide 4: Continued strong cash flow
Continued strong cash flow LFL net rental income growth by segment Q1/2026* Retail average rent per sq.m. (EUR)* 4.8% 27.9 28.0 28.1 28.4 4.5% 4.5% 4.5% 27.5 Norway Sweden & Finland & Total** Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Denmark Estonia** Like-for-like net rental income growth was driven
Slide 5: General mall leasing
General mall leasing – Above 25% growth of general mall leasing income in Q1/2026 versus Q1/2025 ‒ New long-term specialty leasing deals signed and opened during Q1/2026 ‒ New media and advertising screens installed across centers ‒ New possibilities created by reshaping the centers to create additi
Slide 6: Looking ahead
Looking ahead — We continue the work on optimising our asset portfolio by identifying and carrying out potential asset divestments. Following Q1/2026 we have been approached by several potential buyers related to selected assets in Finland, Sweden and Norway. — We will focus on increasing the genera
Slide 7: Financial overview
Financial overview &. Citycon
Slide 8: Key financials
Key financials QTD EUR million Q1/2026 Q1/2025 Change (%) FX Adjusted % Q1-Q4/2025 NRI 51.8 50.1 3.5% 1.8% 209.2 Direct operating profit 45.8 42.7 7.2% 5.3% 183.3 EPRA earnings 19.0 19.4 -2.0% -5.1% 79.0 EPRA earnings excl. Hybrid bond interests 27.0 28.0 -3.5% -5.6% 113.3 EPRA EPS, EUR 0.10 0.11 -1
Slide 9: Detailed EPRA earnings bridge Q1/2026
Detailed EPRA earnings bridge Q1/2026 1.3 0.1 1.5 0.6 19.4 -0.3 -2.4 0.6 19.0 -0.6 18.4 -1.2 Actual Q1/2025 NRI loss from Remaining G&A Other operating Financial Hybrid bond Direct current One-time and Actual Q1/2026 FX impact Actual Q1/2026 divestments assets NRI income and inc.&exp. interests and
Slide 10: Recent financing actions
Recent financing actions Q1/2026 Actions: ‒ A new EUR 520 million facility signed in January of which EUR 270 million was drawn in February and EUR 250 million remains available under an accordion option. ‒ In March Citycon completed a EUR 5 million open market repurchase of its 2029 bond. ‒ In Janu
Slide 11: Well-managed debt maturity profile
Well-managed debt maturity profile Fixed interest rate ratio Average debt maturity Weighted average Liquidity Share of secured debt As of 31 March 2026 Proforma* interest rate (incl. hedges) As of 31 March 2026 As of 31 March 2026 As of 31 March 2026 74.6% 3.7Y 4.22% € 152.7M ~18% Diversified fundin
Slide 12: Key credit metrics
Key credit metrics Loan to value (IFRS) Net debt to EBITDA (IFRS) 47.3% 49.4% 10.7x 46.3% 46.9% 46.4% 46.9% 44.9% 9.6x 9.9x 9.3x 9.3x 9.3x 9.0x 2023 2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 2023 2024 Q1/2025 Q2/2025 Q3/2025 Q4/2025 Q1/2026 Interest coverage ratio (IFRS) Weighted average interest
Slide 13: %%- Citycon
%%- Citycon
Slide 14: %- Citycon
%- Citycon &. Citycon