CPI Europe publishes financial results for 2025
- Property portfolio with a value of €8,701.5 million
- EBIT increased to €710.3 million
- Net profit rose to €513.5 million
- Rental income totalled €562.5 million
- Cash and cash equivalents at €320.0 million
- Equity ratio of 47.1% and solid net LTV of 42.6%
- EPRA NTA per share rose to €35.62
|
KEY FIGURES |
|
2025 |
2024 |
Δ IN % |
|
Rental income |
€ million |
562.5 |
589.2 |
(4.5) |
|
Results of asset management |
€ million |
457.3 |
489.6 |
(6.6) |
|
Results from owner-operated hotels |
€ million |
8.5 |
9.8 |
(13.1) |
|
Results of property sales |
€ million |
(30.3) |
0.1 |
n. a. |
|
Results of property development |
€ million |
9.1 |
(4.1) |
n. a. |
|
Results of operations |
€ million |
377.8 |
408.7 |
(7.6) |
|
Revaluation results |
€ million |
211.8 |
12.6 |
≥ +100.0 |
|
Operating profit (EBIT) |
€ million |
710.3 |
419.4 |
69.4 |
|
Financial results |
€ million |
(110.5) |
(213.3) |
48.2 |
|
Earnings before tax (EBT) |
€ million |
599.8 |
206.0 |
≥ +100.0 |
|
Net profit |
€ million |
513.5 |
133.5 |
≥ +100.0 |
CPI Europe continued its operating development in 2025 and generated net profit of €513.5 million. Revaluation results totalled €211.8 million and were influenced by positive market trends in the form of yields and rents in the retail asset class.
EBIT rose to €710.3 million and EBT rose to €599.8 million. Rental income was lower year-on-year at €562.5 million due to individual property sales. After an adjustment for new acquisitions, completions and sales, like-for-like rental income rose by 1.7% in 2025. Financial results improved to minus €110.5 million.
Optimised property portfolio
CPI Europe continued the systematic development of its property portfolio during 2025. In addition to the targeted sale of properties and investments in the standing asset portfolio, the company set an important milestone for further growth through the acquisition of a residential property portfolio with roughly 12,000 apartments in the Czech Republic.
CPI Europe’s property portfolio included 357 properties with a combined value of €8,701.5 million and 3.8 million sqm of rentable space at the end of 2025. The occupancy rate equalled 94.0%, and the average unexpired lease term weighted by rental income (WAULT) equalled 3.9 years. The sales volume totalled €736.6 million in 2025.
Robust balance sheet
CPI Europe had a robust balance sheet structure as of 31 December 2025 with an equity ratio of 47.1% and a solid net loan-to-value ratio (net LTV) of 42.6%. Cash and cash equivalents amounted to €320.0 million. The volume of financial liabilities hedged against changes in interest rates equalled 93.2%.
The IFRS book value per share rose to €32.31. The EPRA NTA per share increased to €35.62 at the end of 2025 and reflects the net profit recorded for the 2025 financial year.
Outlook
CPI Europe intends to concentrate primarily on the further optimisation of the standing investment portfolio in 2026. The focus will be on the newly acquired Czech residential property portfolio and the expansion of the retail park portfolio. At the same time, CPI Europe plans to continue the sale of non-core assets. Opportunistic acquisitions will also be pursued to drive growth.
The annual report by CPI Europe on the 2025 financial year will be available on the company’s website under cpi-europe.com starting on 27 March 2026.
Earnings announcement by S IMMO AG on the 2025 financial year
S IMMO AG published its consolidated net result on the 2025 financial year on 25 March 2026. The focus remained on the targeted optimisation of the portfolio through the sale of properties with lower yields and the sale of non-core assets. The portfolio included 104 properties with a total book value of €3,153.2 million at year-end 2025. The occupancy rate equalled 91.0%.
Like-for-like development of rental income supported robust operating results in spite of the property sales. Rental income totalled €227.3 million. EBITDA rose to €284.7 million. Consolidated net profit amounted to €229.3 million, and earnings per share equalled €3.25.
The company plans to continue on its current course in 2026 and further align the property portfolio with the long-term strategy of CPI Property Group.
Additional details are provided in the annual report as of 31 December 2025 which is available on S IMMO’s website under simmoag.at.
