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Immorente Posts 9% H1 Revenue Growth, Reaffirms 2026 FFO Guidance of 5.5 MAD/Share
<p>Immorente Invest reported real estate revenues of 21.8 million dirhams in Q2 2026, up 8% year-over-year, bringing first-half revenues to 43.1 million dirhams—a 9% increase. The company credits the expansion of its portfolio, including the Skylla factory delivery and office asset sales, while maintaining its full-year FFO guidance of 5.5 dirhams per share.</p>
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Strong Second Quarter Performance
Immorente Invest continued its upward trajectory in the second quarter of 2026, reporting real estate revenues of 21.8 million dirhams, representing an 8% increase compared to the same period in 2025. This growth was primarily driven by the expansion of the company's asset base, notably following the delivery of the Skylla factory in the fourth quarter of 2025, as well as the commercialization of certain office assets at the end of last year.
First Half Momentum
For the first half of 2026, real estate revenues reached 43.1 million dirhams, reflecting a solid 9% year-over-year progression. The consolidated IFRS revenue stood at 21.3 million dirhams in Q2, up 1%, while the company's standalone (social) revenue came in at 9.3 million dirhams.
Portfolio Composition and Strategy
The company's portfolio remains heavily weighted toward industrial assets, which account for 51% of total investments, followed by office properties at 29%, healthcare at 16%, and retail at 4%. Notably, no new investments were executed during the quarter, indicating a deliberate and measured approach to portfolio expansion.
Balance Sheet Health
Immorente's financial position remains solid, with a Loan-to-Value ratio of 28% as of June 30, 2026. Gross financial debt totaled 370 million dirhams, against a cash position of 13.4 million dirhams.
2026 Guidance Maintained
Looking ahead, Immorente reaffirmed its commitment to its investment strategy and portfolio expansion. The company maintained its 2026 funds from operations (FFO) guidance of 5.5 dirhams per share. Additionally, a second quarterly dividend of 2.5 dirhams per share was distributed on July 3, 2026.