Rising Stone raises its 2026 net income target to 15.2-16 M€
The alpine luxury real estate developer has revised upward its net income target for 2026, driven by a first half that already reaches nearly 80% of the previous year's profit.
The group is relying on sustained commercial activity during the summer and on the growing contribution of its integrated business lines.
Net income for 2026 expected between 15.2 M€ and 16.0 M€
Rising Stone announced on September 24, 2026 that it is raising its net income target for fiscal year 2026. The consolidated net income is now expected to be between 15.2 M€ and 16.0 M€, compared to 10.1 M€ achieved in 2025, representing growth of between 50% and 58%.
This level exceeds the 15 M€ target announced at the time of the Initial Public Offering and confirmed when publishing 2025 annual results in April 2026. The estimate is based on consolidated net income of between 8.0 M€ and 8.2 M€ in the first half of 2026, data described as preliminary, as well as on the group's updated outlook for the second half.
The first-half result alone represents approximately 80% of the result for the entire 2025 fiscal year, a year in which net income had tripled. This performance benefits from the increase in real estate sales and the growing contribution of integrated business lines.
Rising Stone, listed on Euronext Growth in Paris under the code ALRIS, is a creator and builder of luxury real estate in the French Alps and premium holiday destinations. Founded in 2016 by Jean-Thomas Olano, the group has 52 employees and has designed, built and marketed over 22,000 m² of luxury real estate programs since its inception.
Strong mountain sales and progress in integrated business lines
Commercial activity remained strong throughout the summer, according to the group. In Méribel, the sale of the last two apartments in the Fleur des Alpes residence brings its marketing to 100%. The Allodis program records a significant new sale, while sales are also progressing on La Tarentaise and Le Fontany.
Mountain programs represent over 95% of the group's portfolio's forecasted business volume, which exceeds 1 billion euros. Méribel, Courchevel and Val d'Isère constitute the core of its development, with a concentration on the Three Valleys and Tignes – Val d'Isère domains. The Nice operation, which represents approximately 2% of the portfolio's total business volume, complements this offering.
The group highlights the integration of its business lines, from land sourcing to operations, including design, construction and interior architecture. Two brands structure this approach: Rising Stone Interiors for interior architecture and fit-out, and Rising Stone Hospitality for concierge services, property management and seasonal rental operations. The contribution of these service activities to the group's result is increasing.
Himalaya 2028 target confirmed and half-year accounts on October 28
Rising Stone confirms the target of its Himalaya development plan with a 2028 horizon, namely consolidated net income exceeding 30 M€. The group reiterates its distribution policy, with a minimum target distribution rate of 40% of consolidated net income, implemented for fiscal year 2025.
The half-year data presented are preliminary and remain subject to the finalization of closing procedures and approval of the accounts by the Board of Directors. The group will publish its complete half-year accounts on October 28, 2026, after the close of Euronext markets in Paris. An annual 2026 activity update is scheduled for January 2027.
