Readcrest Capital AG reported a 1.6% increase in consolidated revenue to EUR 65.3 million for the first half of 2026, up from EUR 64.3 million in the same period last year. The company's net income soared to EUR 24.9 million, compared to EUR 0.4 million a year earlier, largely due to a EUR 29.4 million gain on the sale of its U.K. care home business. Earnings per share rose to EUR 0.71 from EUR 0.01. The revenue growth was almost entirely attributable to home care services in the U.K., which benefited from higher local authority hourly rates effective April 1, 2026, and from acquisitions made since November 2025.
The sale of the U.K. care home business, completed on April 17, 2026, generated a net cash inflow of GBP 38.5 million (EUR 44.3 million). The company used the proceeds to repay bank loans of GBP 30.0 million (EUR 34.4 million). Together with the conversion of a portion of the mandatory convertible bond amounting to EUR 16.4 million, net financial liabilities decreased from EUR 180.1 million to EUR 123.5 million. Cash and cash equivalents doubled to EUR 20.3 million. These moves significantly strengthen the company's balance sheet and provide greater financial flexibility.
After the balance sheet date, Readcrest expanded its home care business through three additional acquisitions in England and Scotland. It also established a third business division for light industrial real estate in Germany by acquiring a majority stake in RC Industrie Immobilien SE. Neither transaction is yet reflected in the half-year financial statements. In the real estate project development segment, which has not yet generated significant revenue, construction on projects in Schwerin and Halle is scheduled to begin in 2027. Further details are available in the 2026 Half-Year Financial Report, which can be downloaded from the Company's website at https://www.readcrest.com/en/investor-relations?nachrichten_art=finanzberichte.
Readcrest Capital AG is a listed company focused on real estate and special-situations investments. It relies on stable cash flows from systemically important healthcare services in the United Kingdom, particularly through its stake in Grosvenor Health and Social Care, on the development of residential construction projects in high-growth regions of Germany, and on the establishment of a publicly traded platform for commercial real estate (light industrial) through its stake in RC Industrie Immobilien SE. The company's financial calendar includes the Munich Capital Market Conference on November 11 and the German Equity Forum in Frankfurt am Main on November 23. For more information, visit www.readcrest.com. The original release is available on www.newmediawire.com.
