TAG Immobilien AG Q3 2025 Earnings Recap

TAG Immobilien reported a 4% year-on-year increase in FFO I for the first nine months of 2025, driven by robust rental performance, while guiding for further growth in 2026.

Key Takeaways

• FFO I increased to approximately EUR 136 million, bolstered by 6% growth in EBITDA from rental operations in Germany and Poland.
• A capital increase led to a significant reduction in LTV to 42.3%; pro forma LTV post-Resi4Rent acquisition expected at 46.1%.
• Guidance for 2025 FFO I raised to EUR 174-179 million, with expectations for a strong 9% growth in 2026 to EUR 187-197 million.
• Dividend payout ratio to rise to 50% of FFO I for FY 2026, signaling a nearly 30% increase in dividends.
• Notable sales activity in Poland with 1,973 units sold in the first nine months, setting the stage for robust Q4 results.