Skip to main content

Aedifica NV/SA: Interim financial report – 1st quarter 2025

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Please find below Aedifica’s interim financial report for the 1st quarter of the 2025 financial year.

Robust operational performance driving strong results above budget

  • EPRA Earnings* amounted to €62.6 million (+5% compared to 31 March 2024), or €1.32/share
  • Rental income increased to €93.0 million (+13% compared to 31 March 2024)
  • 3.2% increase in rental income on a like-for-like basis in the 1st quarter of the year
  • Weighted average unexpired lease term of 18 years and occupancy rate of 100%

Real estate portfolio* of over €6.1 billion as at 31 March 2025

  • 607 healthcare properties for nearly 48,300 end users across 7 countries
  • 30 properties, including the entire portfolio in Sweden, divested for approx. €100 million as part of strategic asset rotation programme
  • Valuation of marketable investment properties increased by 0.25% on a like-for-like basis in Q1
  • Investment programme of €126 million in pre-let development projects, of which €66 million remains to be invested. Over the 1st quarter, 3 projects from the committed pipeline were delivered for a total investment budget of approx. €45.5 million, while 2 projects were added


Debt-to-assets ratio below 40% and strong liquidity

  • 39.9% debt-to-assets ratio as at 31 March 2025, reduced to 39.5% after deducting the cash from disposals received on 31 March
  • More than €800 million of headroom on committed credit lines and cash to finance CAPEX and liquidity needs
  • Average cost of debt* including commitment fees of 2.2%
  • BBB investment-grade credit rating with a stable outlook (by S&P)
  • EPRA NTA* increased to €77.86/share (compared to €76.63/share as at 31 Dec. 2024)


Outlook for 2025 on track

  • EPRA Earnings* for 2025 are estimated at €238 million, or €5.01/share
  • Proposed dividend for the 2025 financial year: €4.00/share (gross), representing a pay-out ratio of 80% of consolidated EPRA Earnings

      

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.