Readcrest Capital AG Forecasts Adjusted EBITDA of EUR 8-9 Million for 2026

Readcrest Capital AG has published its financial guidance for the 2026 fiscal year, projecting adjusted EBITDA in the range of EUR 8.0 million to EUR 9.0 million. The forecast, announced on June 8, 2026, underscores the company’s strategic realignment following the disposal of its UK care home operations. The guidance includes an EBITDA contribution of approximately EUR 12 million from Grosvenor Health and Social Care, offset by a negative contribution of EUR 3-4 million from German project developments.

The company, listed on the stock exchange under ISIN DE000A0LE3J1, is now focusing on two core pillars: its continuing healthcare services in the UK through Grosvenor Health and Social Care, and a growing portfolio of value-oriented real estate investments in high-growth German regions. These residential construction projects are intended to provide sustainable growth and complement the stable cash flows from the healthcare segment.

CEO Rolf Elgeti highlighted the viability of the realigned business model, stating that the forecast demonstrates the company’s ability to create value for shareholders even in a challenging market environment. The company also targets an annualised EBITDA run-rate of EUR 11.0 million to EUR 12.0 million by the end of 2026.

Operational milestones include the start of construction for the Neustädter Bogen project in Dresden, with a gross floor area of 23,425 square meters, and the sales launch in Halle for the Riebecks Gärten project, which features 399 residential units across 36,335 square meters. More details about these projects are available on the company’s business units page.

The adjusted EBITDA metric, which is not defined under IFRS, is derived from operating results plus depreciation and amortisation, adjusted for non-representative items such as impairments and income from derecognition of liabilities. This adjustment aims to isolate the underlying operating earnings power of the ongoing business.

Readcrest Capital AG continues to rely on Grosvenor Health and Social Care for stable cash flows while expanding its residential development pipeline in Germany. The company’s financial calendar includes the publication of audited consolidated financial statements for 2025 on June 24, 2026, and the half-yearly financial report in September.

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