Park Street A/S - Park Street Interim Report Half Year 2026
Park Street A/S – Interim Financial Report, 1st half of 2026
Copenhagen, 25 August 2026
EBVAT in the first half of 2026 was DKK 19.4 million, compared with DKK 13.7 million for the same period last year. Net sales were DKK 71.6 million, compared with DKK 73.7 million in the first half of 2025, primarily reflecting the impact of property disposals. The increase in EBVAT was primarily driven by a reduction in net financial expenses of DKK 10.9 million. This was partly offset by a decrease in net sales of DKK 2.1 million, an increase in operating expenses of DKK 2.1 million and an increase in overhead costs of DKK 1.1 million. Overall, these movements resulted in an increase in EBVAT of DKK 5.7 million compared with the first half of 2025.
Profit for the period was DKK 16.9 million, compared with DKK 17.7 million in the first half of 2025. The decrease primarily reflects the adverse year-on-year movement in fair value adjustments of DKK 5.6 million, with a negative adjustment of DKK 0.7 million in H1 2026 compared with a positive adjustment of DKK 4.9 million in H1 2025. This was further impacted by lower gains realised on the sale of investment properties and a higher tax expense in H1 2026, partly offset by the DKK 5.7 million increase in EBVAT.
Group’s equity as of 30 June 2026 was DKK 998 million, compared with DKK 981 million as of 31 December 2025.
The Board of Directors of Park Street A/S discussed and today approved the company's Interim report 2026, which contained the following:
The period in outline
- Park Street's Profit for the period was DKK 16.9 million, compared with DKK 17.7 million in the first half of 2025. The decrease primarily reflects the adverse year-on-year movement in fair value adjustments of DKK 5.7 million, with a negative adjustment of DKK 0.7 million in H1 2026 compared with a positive adjustment of DKK 4.9 million in H1 2025. This was further impacted by lower gains realised on the sale of investment properties and a higher tax expense in H1 2026, partly offset by the DKK 5.6 million increase in EBVAT.
- EBVAT in the first half of 2026 was DKK 19.4 million, compared with DKK 13.7 million for the same period last year. Net sales were DKK 71.6 million, compared with DKK 73.7 million in the first half of 2025, primarily reflecting the impact of property disposals. The increase in EBVAT was primarily driven by a reduction in net financial expenses of DKK 10.9 million. This was partly offset by a decrease in net sales of DKK 2.0 million, an increase in operating expenses of DKK 2.1 million and an increase in overhead costs of DKK 1.1 million. Overall, these movements resulted in an increase in EBVAT of DKK 5.7 million compared with the first half of 2025.
- Group’s equity as of 30 June 2026 was positive at DKK 998 million.
- Cash flows from operating activities for the first half of 2026 were DKK 18.9 million (first half of 2025: DKK 2.7 million). The increase was primarily driven by an improvement in operating capital, which amounted to DKK -0.8 million compared with DKK -11.1 million in the same period last year, together with lower financial expenses paid of DKK 20.5 million compared with DKK 31.0 million in the first half of 2025.
Cash flows from investing activities for the first half of 2026 were DKK 7.6 million (first half of 2025: DKK 22.1 million). The decrease primarily reflects lower proceeds from the sale of investment properties, amounting to DKK 17.8 million in H1 2026 compared with DKK 28.0 million in H1 2025, together with higher investments in improvements to investment properties across the portfolio of DKK 10.1 million compared with DKK 5.9 million in the same period last year.
Cash flows from financing activities for the first half of 2026 were DKK -30.4 million (first half of 2025: DKK -30.1 million). The cash outflow was primarily driven by repayment of liabilities to credit institutions of DKK 30.3 million, compared with DKK 30.1 million in the first half of 2025.
Expectations for 2026
The Group previously expected EBVAT for 2026 to be in the range of DKK 50–55 million and has now revised its guidance to DKK 45–50 million. The revised guidance primarily reflects one-off settlement and structuring costs incurred during the year. The Group expects the second half of 2026 to benefit from continued operational optimisation and the expected timing of property disposals. In addition, the one-off settlement and structuring costs are not expected to recur to the same extent in the second half. These factors are expected to support a stronger EBVAT contribution in H2 2026 and underpin the revised full-year guidance of DKK 45–50 million.
Management comments on the interim report
In connection with the interim report for H1 2026, CEO Pradeep Pattem states the following:
“Park Street delivered a solid operating performance in the first half of 2026, with EBVAT of DKK 19.4 million compared with DKK 13.7 million for the same period last year. The improvement in EBVAT was achieved despite lower rental income following property disposals, reflecting disciplined cost control and reduced financial expenses.
We continued our strategic transition with the sale of Hersegade 23, Roskilde, further reducing our exposure to non-core assets.
Our Pulse strategy remains central to Park Street’s future. Pulse Nørrebro continues at full occupancy with a vibrant international community. We will continue to prioritize technology-driven, design-led property management to enhance tenant experience and sustainability outcomes.
For 2026, the Group previously expected EBVAT to be in the range of DKK 50–55 million and has now revised its guidance to DKK 45–50 million. The revised guidance primarily reflects one-off settlement and structuring costs incurred during the year. The Group expects the second half of 2026 to benefit from continued operational optimisation and the expected timing of property disposals. In addition, the one-off settlement and structuring costs are not expected to recur to the same extent in the second half, supporting a stronger EBVAT contribution in H2 2026.
The underlying business continues to benefit from the refinancing and operational initiatives undertaken, while Park Street remains focused on consolidating around its core assets, including the Pulse platform, and reducing exposure to retail and regional assets.”
Attached files
Interim report 2026 is attached to this announcement.
Copenhagen,
Claes Peter Rading Pradeep Pattem
Chairman CEO
Further information
For further information please contact Pradeep Pattem, CEO at parkstreet@parkstreet.dk
Company Website: www.psnas.com
Telephone number: +45 33 33 93 03
This company announcement contains some forward-looking statements, including statements about Park Street’s activities. Such forward-looking statements are based on information, assumptions and assessments that Park Street finds reasonable. These forward-looking statements cover known and unknown risks, uncertainties and other material factors that may cause Park Street’s actual profits, growth or performance to differ considerably from the future profits, growth and performance expressed or implied in connection with these forward-looking statements. If one or more of these risk factors or elements of uncertainty is triggered or if an underlying assumption turns out to be incorrect, Park Street’s actual financial position or operating profits may differ considerably from that which is described as assumed, assessed, estimated or expected.
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