Stocks Market
Immorente Invest Posts 4% Rise in Consolidated Revenue for Q1 2026
Immorente Invest announced a solid performance for the first quarter of 2026, with consolidated IFRS revenue climbing 4 % year‑on‑year to MAD 20.9 million. Rental income rose 9 % to MAD 21.3 million, driven by the delivery of the Skylla plant and the sale of office assets. The fund kept its dividend cadence, paying MAD 1 per share and scheduling a second payout of MAD 2.5 per share in July.
Listen to this article
Unlock audio versions of premium articles and more with a Pro subscription.
Quarterly Revenue Highlights
Immorente Invest reported rental income of 21.3 million MAD, up 9 % year‑on‑year, driven by the handover of the Skylla plant in Q4 2025 and the sale of selected office assets at the end of 2025.
Consolidated IFRS revenue reached 20.9 million MAD, a 4 % increase from the same period last year, while social revenue stood at 9.2 million MAD.
Portfolio Composition
The fund’s portfolio remains heavily weighted toward industrial properties (51 % of total investments), followed by offices (29 %), health (16 %) and retail (4 %). The overall portfolio value is estimated at 1.25 billion MAD.
Capital Structure
No new acquisitions were made in Q1 2026. The loan‑to‑value (LTV) ratio rose to 27 % as of 31 March 2026, up from 26 % at year‑end 2025. Gross financial debt sits at 370 million MAD, with cash on hand of 14.4 million MAD.
Dividends
A first quarterly dividend of 1 MAD per share was paid on 4 May 2026. A second payout of 2.5 MAD per share is scheduled for 3 July 2026.
Forward Outlook
Immorente Invest reaffirms its 2026 investment plan and targets an annual Funds‑From‑Operations (FFO) of 5.5 MAD per share.