Readcrest Capital AG, a listed company focused on real estate and special-situations investments, reported its financial results for the first half of 2026, revealing a modest increase in consolidated revenue and a substantial rise in net income, driven largely by the sale of its U.K. care home business. The company also announced further expansion of its home care operations and the establishment of a new business division, according to a press release issued on September 30, 2026, as reported by NEWMEDIAWIRE.
Consolidated revenue rose by 1.6% to EUR 65.3 million, up from EUR 64.3 million in the same period last year. The revenue was almost entirely attributable to home care services in the U.K., which benefited from increases in local authority hourly rates effective April 1, 2026, as well as from acquisitions made since November 2025. Including a gain of EUR 29.4 million from the sale of the U.K. care home business, net income for the period soared to EUR 24.9 million, compared to EUR 0.4 million in the first half of 2025. Earnings per share reached EUR 0.71, up from EUR 0.01 a year earlier.
The sale of the 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). Combined with the conversion of a portion of its 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 bolster the company's balance sheet and provide greater financial flexibility.
After the balance sheet date, Readcrest continued to expand its home care business through three additional acquisitions in England and Scotland. The company also established a third business division focused on light industrial real estate in Germany by acquiring a majority stake in RC Industrie Immobilien SE. Neither transaction is 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 can be found in the 2026 Half-Year Financial Report, available for download on the Company's website at https://www.readcrest.com/en/investor-relations?nachrichten_art=finanzberichte. The company's shares are listed under ISIN DE000A0LE3J1 and WKN A0LE3J. Readcrest Capital AG 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.
This news is significant for investors and the healthcare industry as it demonstrates Readcrest's ability to improve profitability and reduce debt through strategic divestitures while expanding its core home care operations. The strengthened balance sheet and increased cash position position the company for further growth and investment. The expansion into light industrial real estate diversifies its portfolio and opens new revenue streams. The original release can be viewed on www.newmediawire.com.
