In 2026, Appeninn Plc expanded its property portfolio through two significant acquisitions in Poland, which substantially increased the company’s regional presence and the value of its property portfolio.

In February, the Hungarian property investment company acquired a logistics centre in Tarnów, Poland, covering approximately 56,000 square metres, which is used by Goodyear under a long-term lease. Subsequently, in July, the DEKADA acquisition was also finalised, under which Appeninn acquired seven retail parks and four shopping centres in Poland. The acquired retail portfolio comprises approximately 53,000 square metres of lettable area. The properties have an occupancy rate of 95 per cent, and their annual gross rental income exceeds 10 million euros. As a result of the two transactions, the value of Appeninn’s property portfolio in Poland has reached €170 million. The company’s Polish portfolio now covers all three strategic property segments – offices, logistics and retail. Following the completion of the DEKADA transaction, the group’s total property portfolio grew to over 230,000 square metres, with a market value exceeding €290 million. Appeninn’s rental income rose by 5 per cent to EUR 11.339 million in the first six months of 2026, primarily due to the acquisition of the logistics centre in Tarnów. Although the significant appreciation of the forint had an adverse effect on the company’s consolidated profit after tax, operational profitability remained stable.

Direct collateral 7.487 million euros adjusted EBITDA, calculated excluding the effects of property revaluations 6.913 million euros reached, whilst the adjusted EBITDA margin remains over 60 per cent was established.

„Over the past four years, we have built up a healthy, diversified property portfolio and established a significant regional presence. Our rental income has almost tripled, underpinned by strong and stable operational profitability, whilst the integration of this year’s acquisitions is providing further momentum for growth.” Györgyi Szűcs, Chief Executive Officer of Appeninn Plc.

Appeninn, listed in the Premium category of the Budapest Stock Exchange, has been operating as a regulated property investment company since 2024. The company will continue to assess the profitability and potential uses of its existing properties in the coming period, whilst seeking new acquisition targets both in Hungary and across the Central and Eastern European region.

Source: property-forum