The results were driven by the acquisitions made at the end of 2024, reduced vacancy, indexation, rental uplifts and higher basket spend all while keeping a firm control of costs.
Portfolio value reached a new record high, of EUR8.2 billion, cementing the company’s position as the largest shopping center owner, operator and developer in CEE.
For 2026, the group’s estimates point to an increase of around 3% of distributable earnings per share from 2025.
„On a personal note, this is my final commentary as CEO of NEPI Rockcastle. Over the past four years, I’ve had the privilege of leading a company that has gone from strength to strength. We’ve stayed disciplined in executing our growth strategy – actively recycling capital through acquisitions and disposals, optimising our assets, delivering developments at scale, unlocking new income streams through our renewable energy programme and taking care of our strong balance sheet. This strategy has delivered substantial value for shareholders and business partners as the CEE region continues to record higher rates of economic growth and gains in household disposable income than Western Europe. I’m confident the Company is in excellent hands going forward. My colleague Marek Noetzel takes over as CEO on 1 April 2026, and his deep knowledge of the business and relentless focus on operational excellence make him the right person to lead NEPI Rockcastle into its next chapter,” stated Rüdiger Dany, NEPI Rockcastle CEO.
Consumer spending across the malls owned by NEPI Rockcastle kept climbing, reinforcing just how resilient the CEE shopper continues to be. Tenant turnover grew 3.6% on a like-for-like basis.
The company has development projects worth over EUR840 million in the pipeline. Key projects under construction include the expansion of Promenada Bucuresti, the refurbishment of Bonarka City Center (Poland) and modernization of Arena Mall Budapest.
Projects pending authorization include the development of a shopping center in Plovdiv (Bulgaria), a retail park in Galati (Romania) and the expansion of Poland’s Karolinka Shopping Centre.
Photovoltaic installations now cover 6% of the company’s electricity needs. Moreover, The second phase of the green energy programme is progressing well, with 22 on-site plants outside Romania in different stages of installation.
The third phase of the green energy programme, comprising off-site plants development, is advancing, with the ChisineuCris greenfield photovoltaic plant (54 MW) expected to commence commercial operations soon, and the Aricestii Rahtivani plant (60 MW) expected to start commercial operations by the end of 2026.
(English version by Catalina Apostoiu)