Operator
Whats up, and welcome to Gecina Q1 2026 Exercise Convention Name. [Operator Instructions]
At present, we’ve Benat Ortega, CEO; and Nicolas Dutreuil, Deputy CEO in control of Finance as our presenters. I’ll now hand you over to your host, Benat Ortega, to start in the present day’s convention. Thanks.
Benat Ortega
Director Basic, CEO & Director
Good morning, everybody. It is a pleasure to share an replace of the execution of our technique in the present day. One phrase to start with on rental earnings. Our rental earnings elevated in Q1 on a like-for-like foundation, up 2.3% to EUR 176 million. This once more exhibits our capability to outperform indexation, supported by rental uplift and a persistently excessive degree of occupancy.
As anticipated, indexation is decelerating, reflecting the slowdown in inflation and building prices in France final yr with the same old lag impact embedded in our leases. On a present foundation, rental earnings displays the influence of the numerous disposals executed final yr as we recycled mature capital from residential property into higher-yielding alternatives within the workplace phase.
Occupancy stays excessive and broadly secure year-on-year with greater than stable exercise in Paris and an acceleration of our residential occupancy. The momentary enhance in emptiness in Boulogne displays the time required to launch surfaces vacated following lease maturities final yr. However we’ve signed a number of leases in Boulogne throughout Q1 and public transport will enhance considerably with the
