Readcrest Capital AG Publishes Guidance for Adjusted EBITDA 2026

HAMBURG, GERMANY - Readcrest Capital AG (DE000A0LE3J1; WKN A0LE3J) has published its guidance for the financial year 2026, projecting adjusted EBITDA in a range of EUR 8.0 million to EUR 9.0 million. This guidance reflects the company's realigned business model following the disposal of its UK care home business, with Grosvenor Health and Social Care continuing to form the operating revenue and cash flow base.

The management board expects an EBITDA contribution of approximately EUR 12 million from Grosvenor Health and Social Care, offset by an earnings contribution of around EUR 3-4 million from German project developments. In addition to the care business, Readcrest Capital is deliberately expanding its second growth pillar: value-oriented real estate investments with a focus on promising residential construction projects in high-growth regions of Germany. These project developments are positioned as the core of future value creation, complementing the stable cash flows from the healthcare business with sustainable growth potential.

By the end of 2026, the company is targeting an annualized EBITDA run-rate in a range of EUR 11.0 million to EUR 12.0 million. Further operational milestones include the start of construction in Dresden for the Neustädter Bogen, with a gross floor area of 23,425 sqm, and the sales launch in Halle for Halle Riebecks Gärten, with a gross floor area of 36,335 sqm distributed across 399 residential units. More details on these projects can be found at Readcrest Business Units.

"With forecast adjusted EBITDA of EUR 8.0 to 9.0 million, our realigned business model demonstrates its viability. Following the disposal of the UK care home business, we are fully focusing on our growing residential construction pipeline in Germany - and, particularly in a challenging market environment, are creating sustainable value for our shareholders," said Rolf Elgeti, CEO of Readcrest Capital AG.

Adjusted EBITDA is an unaudited metric not defined under IFRS, calculated as result from operating activities plus depreciation/amortisation, adjusted for material non-representative items such as impairments of receivables/inventories added back and income from derecognition of liabilities deducted, and excluding the divested care homes. The adjustments are intended to isolate the underlying operating earnings power.

This guidance underscores the company's strategic shift toward German residential development while maintaining stable healthcare cash flows. The announcement is significant as it provides investors with a clear outlook on expected performance and milestones for the coming year, highlighting the viability of Readcrest Capital's realigned business model in a challenging market environment.