Growing Pro Forma Net Profit at Graphisoft Park

In line with the company's extraordinary announcement on February 2, 2026, Graphisoft Park SE achieved EUR 8.31 million from normal business operations, which, combined with an additional EUR 12.17 million in one-off extraordinary results, resulted in a total pro forma net profit of EUR 20.48 million, the executive summary of the company's annual reports says.

In view of recent trends in the office market, in 2024, the company decided to examine the possibility of developing residential and service functions in the southern development area instead of offices, which is more appropriate from an urban landscape, urban planning and business perspective than further office building development. In line with this, the company sold the area to Synergy Construction Hungary Kft., which is interested in residential development. Following the transaction successfully completed in July 2025, the company realized a one-time extraordinary profit of EUR 11.1 million. Furthermore, given thatthe refinancing of the preferential NHP loan, which expired at the end of 2025, would have had a negative impact on future results given the current higher interest rates, the company repaid the principal amount of about EUR 6.5 million at maturity. Upon closing the hedging transaction related to the loan at the end of 2025, the company recognized a one-time exchange rate gain of EUR 1.07 million. The repayment was covered by the company's previously accumulated cash reserves, so this did not affect the use of one-off and extraordinary results. The company's Board of Directors will make a proposal on the use of extraordinary results in the publication of the annual general meeting proposalsto be announced on March 25.

In line with previous practice and in accordance with the relevant provisions of the “SzIT Act”, it proposes to pay out 90% of the pro forma profit from normal business operations as dividend.
In addition to all this, normal business operations also performed better than expected, largely due to the fact that Graphisoft Park's occupancy rate remains high: by the end of 2025, it had increased to 96% as a result of meeting the minor space expansion needs of several existing tenants, significantly exceeding the 87% average for the Budapest office market. Due to the company's ability to adapt flexibly to changing tenant needs, the unique natural features of the park, and the environment created by the company's focus on technology and IT, Graphisoft Park's tenants typically commit to longer terms than the domestic average, despite the uncertain economic environment. As a result of continuous contract extensions, the average remaining lease term, WAULT, was 4.4 years at the end of 2025, while the average length of time since the first lease was signed, which reflects tenant commitment even better, was already 16.6 years.

However, Graphisoft Park SE continues to anticipate an uncertain economic environment in 2026 and its impact on tenants, so in addition to indexation of rents, the company is also considering the possibility of a certain degree of potential vacancy. Overall, while maintaining the company's previous forecast, we forecast a pro forma result of EUR 8.1 million in 2026, which, taking into account the risks noted above, may represent a cca. 2% decrease in profit from normal business operations.