LAMDAReal Estate · Real Estate - Development · ΧΑ
Lamda Development
€5.89
−0.02(−0.34%)
Close 26/10/2026 · end-of-day price, not real-time
Lamda Development (LAMDA) closed at €5.89 on 26/10/2026, -0.34% on the day. Market cap €1bn, P/E 11.1.
Announcements to the exchange
- 26/10/2026 17:31Lamda Development announces CEO leadership transition
My view
Private · MENTOR takes it into account
−4.4%6M
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26/10/2026Close 5.89−0.34%Vol 102.2k−4.4% since start
Key statistics
FY2025 unless a figure says otherwise
Profile
At the 26 Oct close- Market value
- €1bn
- Enterprise valueDec 2025est.
- €2.3bn
- Shares outstandingOct 2026
- 170.4m
- RevenueFY2025
- €567.2m
- Employees
- 804
- Free floatest.
- 10.3%
- Traded a day, 3-month average
- €1.8m
Property
Jun 2026- Price ÷ NAV
- 0.67×
- NAV per share
- €8.81
- OccupancyH1 2026
- 100.0%
Valuation
FY2025- P/E
- 11.1×
- P/B
- 0.77×
- EV/Salesest.
- 4.0×
- Dividend yield
- 0.0%
Margins
FY2025- Gross
- —
its accounts show no gross profit
Returns
FY2025- ROE
- 7.1%
- ROA
- 1.8%
- ROE, 5-year averageFY2021–25
- 5.6%
- Tax rate
- 32.2%
- Profit to minority holders
- 2.1%
Financial health
Dec 2025- Cash
- €750.4m
- Net debt
- €1.3bn
- Debt ÷ equity
- 126.8%
leases included
Growth
- Revenue, last yearFY2025
- −14.7%
- EPS, last yearFY2025
- +96.3%
- Revenue, 3 yearsFY2022–25, a year
- +58.8%
- Revenue, 5 yearsFY2020–25, a year
- +52.9%
- EPS, 3 yearsFY2022–25, a year
- —
- Shares, 3 yearsFY2022–25est.
- −1.6%
not meaningful: crosses a loss
Dividends
FY2025- Yield, last 12 months
- 0.0%
- Per share
- —
- Payout
- —
not meaningful here
nothing paid in 12 months
Withheld, and why
- Valuation: EV/EBITDA, P/FCF · Margins: EBITDA, Operating (EBIT), Pre-tax, Net, Free cash flow · Returns: ROCE, ROIC · Financial health: Net debt ÷ EBITDA, Interest cover · Dividends: Covered by free cash flow · property revaluations sit in operating profit, and buying buildings is investment, not capex
Trading and risk
From our closes, dividends reinvested- Total return, 1 year
- −18.8%
- 3 years, a year
- −0.5%
- 5 years, a year
- −4.2%
- 10 years, a year
- +2.3%
- Volatility, 1 year
- 25.9%
- Beta to the General Index
- 0.71×
- Deepest fall, 1 year / 5 years
- −22.3% / −31.7%
- 52-week range
- €5.875–€7.56
est.worked out by usread with care: tap for why
Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.
Financial charts
From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements
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Valuation
3 companies| Metric | LAMDA | Peer median | Peer range |
|---|---|---|---|
| P/E | 11.1 | — | |
| P/B | 0.77 | 1.42 | 1.28 1.56 |
| P/S | 1.8 | 52.6 | 2.7 876.9 |
| Dividend yield | 0.0% | 0.0% | 0.0% 0.0% |
| Gross margin | — | 4.1% | -17.3% 25.6% |
| ROE | 7.1% | 8.9% | -2.5% 20.2% |
| Revenue growth (last full year) | −14.7% | −28.3% | -48.2% 110.6% |
| Net debt | €1.3bn | €1.1m | -€1.1m €45.6m |
Grey band: the peers' range · tick: median · dot: LAMDA · Twelve Data · latest quarter 30/06/2026
Peers: Property developers
Mkt capP/BDay
Lamda DevelopmentLAMDA€1.0bn0.8−0.3%
The company
AI-draftedLamda Development builds and manages Greek real estate through subsidiaries. It owns four shopping centres, the Flisvos and Aghios Kosmas marinas, and The Ellinikon, the redevelopment of the old Athens airport, where it sells land plots and apartments. H1 2026 revenue was €265.4m and NAV €8.81 a share. The Latsis group controls it.
How it makes moneyH1 2026 · basis: revenue
It is
- A holding company with two pillars of value: four shopping centres on inflation-indexed rents, and The Ellinikon, a 6.2m sq.m. site being sold and built out in phases.2,1
- Controlled in practice by the Latsis family through Consolidated Lamda Holdings, which held 44.76% at the end of 2025 and has been buying.1,2
It is not
- Not a REIC: the 2025 annual financial report is prepared as an ordinary société anonyme with no reference to the Greek REIC regime, and the company pays no dividend.1
- No longer primarily a landlord: in 2025 sales of inventories, meaning apartments and land plots, came to €376.8m against €124.4m of third-party rent.1
- Not a construction company: it awards the works to contractors, for example The Ellinikon Mall's structural frame to TERNA.1
Recent developmentsAll company events →
- Sep 2026H1 2026 report filed: €265.4m revenue, €22.4m reported EBITDA and €41.0m loss attributable to shareholders.7
- Jul 2026Final contracts signed for two Ellinikon residential plots, 15.7k sq.m. of buildable area, to Ten Brinke Hellas subsidiaries for €41.5m.6
- Jul 2026The €320m 2020 bond repaid early and delisted, with 16 July the last trading day.5
- Jun 2026A €350m seven-year bond issued at a 4.20% yield, 1.7 times oversubscribed on €593.5m of demand from 13,652 investors.4
- Dec 2025Exclusive agreement with Athens Medical Group for a 6,000 sq.m. Healthcare Park at The Ellinikon, completing by end-2028.1
- Nov 2025A €500m seven-year bond issued at 3.80%; €487.1m of net proceeds earmarked for Ellinikon residential development to 2030.1
Key figures
Key facts
- Consolidated Lamda Holdings, the Latsis group vehicle, held 44.76% at 31 December 2025, with treasury shares at 3.29%.1
- The Ellinikon is a 6.2m sq.m. site with 2.7m sq.m. of buildable area; the fixed €915m price is paid in instalments to 2031.1,2
- Cumulative cash proceeds from Ellinikon sales and leases reached almost €1.8bn by 31 August 2026.7
- No dividend has been proposed for fiscal 2022 to 2025; capital is returned through share buyback programmes instead.1,3
- The four trading malls have 179k sq.m. of GLA and were valued at €1,372m at the end of 2025.1,2
Sources
- 1.Annual Financial Report for the year ended 31 December 2025LAMDA Development S.A. · 04/03/2026official
- 2.Annual Report 2025LAMDA Development S.A. · 06/2026official
- 3.Annual Financial Report for the year ended 31 December 2024LAMDA Development S.A. · 04/2025official
- 4.Announcement on the outcome of the public offering of the bondsLAMDA Development S.A. · 09/06/2026official
- 5.Announcement of repayment and cease of trading of the bonds of the 320 million euro common bond loan of 2020LAMDA Development S.A. · 09/07/2026official
- 6.Signing of agreements for the sale of land plots for residential developments of a total consideration of 41.5m euroLAMDA Development S.A. · 30/07/2026official
- 7.H1 2026 Interim Financial ReportLAMDA Development S.A. / Euronext Athens · 16/09/2026official
AI-drafted from the cited sources · 30/09/2026 · v3 · ✓ checked by an independent second modelLamda Development S.A.Website ↗
AskedSuggested
Why it moved
-0.34% · volume 0.5×
News & events
News and what's next
Peers
3 listed peers
Results
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Valuation
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.