CTP N.V. signed leases totalling 1,576,000 sqm in the first half of 2026, a 55% increase compared with the same period last year, including a new quarterly record of 813,000 sqm in Q2. Gross rental income rose 12.6% year-on-year to €413.3 million, while annualised rental income reached €858 million as at 30 June 2026. Like-for-like rental growth came in at 4.7%, supported by indexation and rent reversion. Occupancy remained stable at 93%, with a weighted average unexpired lease term of 6.1 years.
Around 65% of new leases were signed with existing clients, and the client retention rate stood at approximately 89%. Company-specific adjusted EPRA earnings grew 11.2% year-on-year to €240.9 million, with earnings per share rising 8.7% to €0.50. The Group reiterates its full-year 2026 Company-specific adjusted EPRA EPS guidance of €1.01 to €1.03, implying growth of 9% to 11% year-on-year.
"Occupier demand across our markets remains strong," said Remon Vos, CEO. "Following a record first quarter, we set another leasing record in Q2, bringing total leasing in H1-2026 to nearly 1.6 million sqm, 55% more than last year. This demand is broad-based across sectors and markets and reflects the structural drivers underpinning our business: nearshoring with production in Europe for Europe, growing disposal incomes and professionalisation of supply chains. We remain well positioned to reach €1 billion of annualised rental income in 2027."
In H1 2026, CTP delivered 245,000 sqm of new space at a yield-on-cost of 10.8%, with 93% leased at completion, bringing the standing portfolio to 14.8 million sqm. The Group had 2.0 million sqm under construction across more than 90 projects and 60 locations at 30 June 2026, with potential annual rental income of €152 million and an expected yield-on-cost of 10.0%. The pipeline was 51% pre-let. CTP reiterates its target to deliver between 1.4 million sqm and 1.7 million sqm in 2026.
During the period, CTP entered Vietnam, securing an initial landbank of approximately 330,000 sqm across two locations with planned development potential of around 210,500 sqm. The Group also raised and refinanced €1.7 billion in H1 2026, maintaining a liquidity position of €2.1 billion at 30 June 2026. The leverage ratio stood at 46.8%, above the Group's target range of 40% to 45%, with management committed to returning it to that range over time. An interim dividend of €0.345 per share was declared, an increase of 11.3% on the prior-year interim dividend.
