Skip to main content

Aedifica NV/SA: 2026 half year financial report

Written by Customer Service on . Posted in Public Companies.

Please find below Aedifica’s 2026 half year financial report.

Creating Europe’s leading healthcare REIT

  • On 10 March 2026, Aedifica acquired control over Cofinimmo with 80% of the shares tendered during the exchange offer
  • On 1 July 2026, Cofinimmo was delisted from Euronext following a legal merger by absorption with Aedifica
  • A new Board of Directors and Executive Committee have been appointed

Robust operational performance driving strong results

  • EPRA Earnings per share increased to €2.71 (+5% compared to 30 June 2025), highlighting the accretiveness of the Cofinimmo transaction
  • EPRA Earnings amounted to €189.9 million (+54% compared to 30 June 2025)
  • Rental income increased to €292.3 million (+62% compared to 30 June 2025)
  • 1.7% increase in rental income on a like-for-like basis in H1
  • Weighted average unexpired lease term of 15 years and occupancy rate of 99.1%

Real estate portfolio of €12.5 billion as at 30 June 2026

  • Healthcare portfolio of €11.1 billion: 924 properties for over 80,000 end users across 9 countries
  • Valuation of marketable investment properties increased by 0.35% on a like-for-like basis in H1
  • €84 million of new investments in H1, with an additional €111 million announced over summer, bringing the investment total to €195 million YTD
  • Investment programme of €531 million as at 30 June 2026

Solid balance sheet and strong liquidity

  • 42.7% debt-to-assets ratio as at 30 June 2026 (incl. seasonal effect of dividend payment; compared to 40.8% on 31 Dec. 2025)
  • €1,487 million of headroom on committed credit lines to finance CAPEX and liquidity needs
  • €620 million inaugural syndicated credit facility for the combined entity, bringing the total amount of long-term bank (re)financing contracted to €930 million
  • Attractive average cost of debt incl. commitment fees of 1.9%
  • S&P reconfirmed BBB+ credit rating (stable outlook) and A-2 short-term issuer rating

Outlook for 2026

  • EPRA Earnings for 2026 are estimated at €436 million, or €5.35/share
  • A dividend of €4.20/share (gross) proposed for the 2026 financial year, increasing by 5%
  • With legal merger completed, expected synergies will accelerate further, reaching full run-rate impact of at least €16 million during 2027

Attachments

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.