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Graphisoft Park SE Real Estate Development Earnings Release 2025
2012_rns_2026-02-02_ee3b035e-6481-4fbb-a7c8-c8fe549f1539.pdf
Earnings Release
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Extraordinary Profit Forecast Notification on the expected pro forma results for 2025
Due to several factors, the Company increases its forecasted pro forma profit for 2025 by nearly 1.7 million euros to 20.48 million euros.
As previously announced by the Company, it has repaid the preferential NHP loan, which expired at the end of 2025, with a principal amount of 6.5 million euros. During the term of the loan, the exchange rate difference related to principal repayments was recognized in profit after tax, while the impact of the loan revaluation was recognized in other comprehensive income as part of the hedge transaction. As a result of combining these two effects, the Company recognized a one-time exchange rate gain of 1.07 million euros upon closing the hedge transaction, which is presented separately in the pro forma results.
In addition, results from normal business operations are approximately 600 thousand euros higher than our previous forecast. The net financial result is 250 thousand euros more favorable, which is largely due to the fact that the stronger than expected HUF/EUR exchange rate resulted in lower than planned exchange rate losses on our assets denominated in Hungarian forints. In addition, rental revenues due to the fourth quarter development of ad hoc rental fees, and other income from leasehold improvements carried out at the request of tenants are also about 100-100 thousand euros higher than previously estimated. The remaining difference is due to planning and rounding differences, given that the budgeting was determined in the order of 100,000 euros, while the actual data was determined in increments of 1,000 euros.
The one-off extraordinary profit of 11.1 million euros from the sale of the Southern Development Area in 2025 is not affected by the current amendments. The Company's Board of Directors will later make a proposal on the use of the proceeds from this sale and the currently reported one-time and extraordinary profit of 1.07 million euros.
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| (million euros) | 2025 previous forecast | 2025 revised forecast |
|---|---|---|
| Rental revenue | 17.4 | 17.51 |
| Other income (net) | 0.5 | 0.61 |
| Operating expense | (2.4) | (2.35) |
| EBITDA | 15.5 | 15.77 |
| Depreciation | (6.3) | (6.22) |
| Operating profit | 9.2 | 9.55 |
| Net financial result | (1.4) | (1.14) |
| Profit before tax | 7.8 | 8.41 |
| Income tax expense | (0.1) | (0.10) |
| Net profit | 7.7 | 8.31 |
| Sale of the Southern Development Area | 11.1 | 11.10 |
| One-time effect of closing a hedge transaction | - | 1.07 |
| Net profit including one-off items | 18.8 | 20.48 |
The above factors will have a significant overall impact on the Group's financial results for 2025, and therefore the Company revises its profit forecast accordingly. Instead of the previously announced pro forma result of 18.8 million euros, the Company now forecasts a pro forma result of 20.48 million euros for 2025. These one-off items will not affect the 2026 financial year, and we maintain our previously published forecast for 2026.
Budapest, February 2, 2026
Graphisoft Park SE