Artea: Revenue Down 15% in H1 2026, Services Up 64%
Artea reported first-half 2026 revenue of 22.46 million euros, down 15% compared to 26.32 million euros a year earlier. This decline primarily reflects the recognition schedule for real estate development operations and the continuation of the rental portfolio reduction strategy pursued by the group over several fiscal years. Meanwhile, services activities are accelerating notably, driven by dynamic hotel operations.
Services in Strong Acceleration, Development and Rental Income in Decline
The real estate group recorded mixed performance in the first half of 2026. Development revenues stood at 12.93 million euros, down 25% compared to the first half of 2025, reflecting the schedule of ongoing operations and slowing activity. Net rental income reached 2.08 million euros, compared to 4.42 million a year earlier, a contraction of 53% resulting from the asset arbitrage strategy and the change in the group's asset base.
Conversely, services activities represent the main growth driver. Revenue from this segment increased 64% to 7.45 million euros, driven notably by dynamic hotel operations. Hotel activity shows marked progression, while fee revenues are also increasing. This segment now represents one-third of consolidated revenue.
Business Mix Shifting Towards Services
Over the semester, revenue distribution evolved significantly among the group's three business lines. While overall revenue declined, services reached 7.45 million euros, representing approximately 33% of the total, compared to a significantly lower share a year earlier. Development revenues, although down over the semester, still represent nearly 58% of consolidated revenue.
The reduction of the rental portfolio, which is intentional, continues a property optimization strategy initiated previously. The group clarified that the overall decline reflects the advancement schedule of real estate development operations and the change in the scope of rental assets.
