Altareit
AREIT
ISIN FR0000039216 / Valor 501097
Altareit
UMushroom community rating:
About company
Altareit, a subsidiary holding 99.85% ownership under the Altarea group, functions as a comprehensive real estate developer specializing in a wide range of property asset classes. These include residential housing, office spaces, retail establishments, logistics facilities, hotels, serviced residences, photovoltaic infrastructures, and data centers. This diverse expertise enables Altareit to effectively address various aspects of urban development and transformation, ensuring adaptability and responsiveness to the evolving demands of the real estate market.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (09.03.2026):
Altareit — H1 2025: consolidated revenue for the first half of 2025 was €808.0m (‑23.8% year‑on‑year), while operating cash profit (FFO) improved materially to €38.4m (+32.2%). Net profit FFO rose to €23.9m (+76.7%), and the Group‑share net result was a loss of €(8.1)m (improved versus H1 2024).
Revenue
Consolidated revenue: €808.0m in H1 2025 (‑23.8% vs H1 2024). Residential: €736.1m (‑24.1%). Business property: €71.9m (‑20.8%).
Profitability (FFO)
FFO (funds from operations): €38.4m in H1 2025 (+32.2% vs H1 2024). Residential FFO ~€26.1m (‑1.2% vs prior year); Business property FFO €15.1m (x2.0).
Net result (Group share)
Net profit FFO (group share) €23.9m (+76.7%). Reported net result, Group share: loss of €(8.1)m (narrower loss vs €(10.5)m in H1 2024).
Residential activity & backlog
Residential backlog €2.5bn (excl. VAT) at 30/06/2025. New‑generation residential projects represented ~41% of residential revenue on progress (vs 8% in H1 2024). Notarised sales and commercial launches were lower in H1 but the company expects acceleration in H2.
Business property & pipeline
Business property pipeline: ~650,000 m² total, c.310,000 m² with granted permits (including a 75,000 m² logistics platform pre‑let). Business property backlog €141m (excl. VAT) at 30/06/2025.
New businesses
Altareit is scaling photovoltaics (126 MWp capacity including 81 MWp connected, 45 MWp under construction), developing data‑center initiatives (edge and hyperscale pipeline) and rolling out real‑estate asset management activities.
Balance sheet & liquidity
Available cash and equivalents €1,761m at 30/06/2025. Net debt €280m (increase vs year‑end 2024). Unused credit lines / available facilities ~€1.22bn; corporate revolving lines available (c.€700m of RCF capacity noted).
Financial metrics & rating
LTV 29.8% and ICR 8.5x at 30/06/2025. Gearing ratio ~0.37x. S&P confirmed Altareit’s BBB‑ rating in May 2025 with a negative outlook. The group repaid its July 2025 bond early (April 30, 2025) and had no outstanding bond maturities thereafter.
ESG / Taxonomy alignment
European Taxonomy: revenue alignment rate 73.8% in H1 2025 (eligibility 98.6%). Altareit highlights ongoing efforts to apply taxonomy criteria to developments launched since 2022, improving alignment versus 2024.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
1202 M
Market cap (USD)
1
Daily traded volume (Shares)
470 / 470
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
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Ratings & reviews
Anna Trillini
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