PREATONI Group shares Pro Kapital Grupp's unaudited HY26 results and provides an update on the Hospitality/Tourism division

PREATONI Group (Euronext Paris – ISIN: FR001400WXE7 – ticker symbol: ALPG), an international group specializing in the ownership and operation of hotel assets and in residential and commercial real estate development, shares the unaudited half-year results of Pro Kapital Grupp AS[1], a company in which PREATONI Group holds an equity interest of 49,62%, as well as on the activity of its Hospitality/Tourism division at the end of the first half of 2026

Real Estate Development Division

Progress on Various Projects in the First Half of 2026

• Tallinn (Estonia) – At Kristiine City, on the Uus-Kindrali project, 90% of the apartments in the White Building have been sold. At the same time, construction of the seven-story building adjacent to the White Building (90 apartments) has also progressed well with total sales amounting to more than 40%.

Meanwhile, the Musketäri Majad project, launched early 2026 (144 apartments), and the initial developments of other projects in Kristiine City (design and permitting phases) are proceeding according to plan.

• Riga (Latvia) - The Blue Marine project is progressing according to schedule.

• Vilnius (Lithuania) - City Villas continued to strengthen its position as one of Vilnius's most exclusive residential developments, with high price level. The official launch of the Borgo project (creation of 50 exclusive high-end apartments in a historic building located in the old town of Vilnius) is planned for the second half of 2026.

Pro Kapital Grupp's Preliminary Half-Year Results

• Revenue

At the end of H1 2026, Pro Kapital's revenue[2] stood at €26.1 million compared to €28.5 million in the same period last year, down 9% due to product mix (types of housing sold during the period).

• Gross Margin

Gross profit amounted to €9.6 million in H1 2026, compared to €10.2 million for the same period in 2025.

• Operating Income
  Operating income was 5.6 M€ in H1 2026, compared to 7.5 M€ in H1 2025.

• Net Income
  Net income came in at 3.3 M€ for H1 2026, compared to 6.2 M€ for H1 2025.

• Cash Flow
  In the first half of 2026, cash flow from operating activities improved to €9.3 million, compared to €8.5 million in the first half of 2025.

Finally, from a balance sheet perspective, it should be noted that the maturity date for a portion of Pro Kapital's convertible bonds (€8.2 million out of a total of €18.7 million) has been extended to October 31, 2028 (instead of the originally scheduled October 31, 2026).

In accordance with the regulations applicable to it on the Tallinn Stock Exchange, Pro Kapital has published its interim financial statements on its website (for more information, visit: https://www.prokapital.com/).

Hospitality/Tourism Division

On the Hospitality/Tourism division, despite the unfavorable geopolitical climate, the performance for H1 2026 is expected to be in line with management expectations, both overall and for each significant entity (Egypt, Italy). However, the uncertainties linked to the international situation and its consequences, particularly in the energy, are leading the Group to remain cautious for the coming months. 

However, trends to date regarding the increase in average revenue per room and solid occupancy rates especially in Sharm El Sheikh, are rather encouraging.

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[2] Revenue from real estate sales is recognized when title to the property is transferred to the buyer. Consequently, revenue from real estate sales depends on the construction cycle, the completion of residential projects, and the signing of deeds at the notary's office.