Sagax Spain: Revenue Increases by 23%, Pre-Tax Profit Declines by 11%
Sagax Spain reported revenues of €21.6 million in the first half of 2026, up 23.2% year-on-year. Net Operating Income (NOI) also increased by 22.1%, mainly due to real estate acquisitions made during the period. Meanwhile, pre-tax profit fell by 11.3% to €25.8 million, with the company attributing this decline to an increase in financial expenses linked to a higher amount of borrowing.
Total revenues grew by 23.2% to reach €21.6 million in the first half of 2026, up from €17.6 million a year earlier. Net Operating Income (NOI) was €19.3 million, an increase of 22.1% compared to €15.8 million in the same period of 2025. According to the company, this growth primarily stemmed from real estate acquisitions made during the period. Three properties, representing a total rental area of 23,700 sqm, were acquired. Rental income from the comparable portfolio increased by 4.0%. As of July 1, 2026, the portfolio included 136 properties totaling 701,320 sqm of rental space, with an economic occupancy rate of 97.9%.
Pre-Tax Profit Hampered by Rising Financial Charges
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Pre-tax profit amounted to €25.8 million, down 11.3% compared to €29.0 million recorded a year earlier. The company reports that the increase in financial charges compared to the previous year is due to a higher amount of borrowings. Net investments in properties amounted to €29.9 million for the semester.
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