Despite a disappointing first half of 2025, Hamborner REIT has raised its full-year rental income forecast due to an unexpected delay in a planned property sale. The Duisburg-based real estate firm reported a 2.1% decline in rental income to €45.7 million, while Funds from Operations (FFO) dropped over 12% to €24.9 million, weighed down by higher maintenance, personnel, and administrative costs. Net profit fell 14% to €6.5 million. However, the company now expects annual rental income between €89.5 and €90.5 million, up from the previous €87.5–89.0 million range, as the unsold property continues to generate revenue.
Operational Challenges Persist
While investors responded positively, with shares rising 0.7% to €5.79, operational pressures remain. The FFO forecast remains unchanged at €44.0–46.0 million, reflecting persistent cost challenges. The failed sale raises questions about portfolio strategy, though it provides short-term income stability. The broader real estate sector’s gradual recovery from high interest rates and valuation uncertainties may offer some relief, but Hamborner REIT’s ability to manage rising costs will be critical for future performance.
