Graphisoft Park First Quarter Earnings Up 20%

First-quarter after-tax profit of Graphisoft Park, which owns and operates a business park in the north of Budapest, rose 20% year-on-year to EUR 2,670,000, an earnings report shows.

The pro-forma net profit for the first quarter of 2026 was in line with company’s expectations at EUR 2.67 million, representing a significant increase of 20% compared to the same period last year. This result is primarily attributable to the office park’s stable tenant base and financial results for the period also developed favorably.

Graphisoft Park’s occupancy rate remains at 96%, significantly exceeding the Budapest office market average of 88%. Due to the park’s ability to adapt flexibly to changing tenant needs, as well as its unique natural features and the environment shaped by its focus on technology and information technology, company’s tenants typically commit to longer lease terms than the national average, despite the uncertain and rapidly changing economic environment. As a result of continuous lease renewals, at the end of the first quarter of 2026, the average remaining lease term, WAULT, was 4.4 years, while the average duration since the initial lease agreement, a figure that reflects tenant commitment even more clearly, was already 16.7 years. Throughout 2026, we continue to anticipate that changes in the economic environment might affect company’s tenants’ operations; however, based on more favorable market expectations and a stable tenant base, the risk of vacancies is likely to be lower than previously forecasted. Accordingly, we are revising company’s previously published forecast, which continues to consider ongoing developments aligned with company’s ESG goals and their associated costs. Overall, for 2026, we estimate a pro-forma profit of EUR 8.4 million which is EUR 300,000 higher than previously forecasted and slightly exceeding the prior year’s profit after tax from ordinary operations.