CPI Europe AG: Solid start to 2025 with mixed numbers!

CPI Europe AG: Solid start to 2025 with mixed numbers!

Today, May 28, 2025, CPI Europe AG published an interim statement for the first quarter of 2025. This was announced on their company website and provides comprehensive insights into their current economic situation.

In the first analysis, the figures show that rental income is at 139.0 million euros, which represents a slight decrease of 2.9% compared to 143.2 million euros in the first quarter of 2024. Despite this decline, the company was able to slightly increase its operating result, which now stands at 105.7 million euros - an increase of 1.4% compared to the same period last year.

Financial indicators

EBIT (earnings before interest and taxes) fell to 90.7 million euros, which represents a decrease of 3.2% compared to 93.7 million euros in the previous year. Group profit also fell and now amounts to 47.5 million euros, after 49.7 million euros in the first quarter of 2024, a decrease of 4.3%. Particularly noteworthy is the decline in FFO 1 after taxes, which is 57.1 million euros, compared to 69.7 million euros in the same quarter of the previous year, which corresponds to a decrease of 18.0%.

In addition, the company recorded revaluations of -14.3 million euros, an increase compared to -9.9 million euros in the first quarter of 2024. The financial result has also deteriorated and is now at -28.9 million euros, representing a 29.6% increase in losses compared to -22.3 million euros last year.

Real estate portfolio and market position

The real estate portfolio now includes 389 properties with a total value of 7,816.0 million euros. At the end of 2024, the value was 7,983.6 million euros for 417 properties. The existing properties are worth 97.5% of the book value and cover a rentable area of ​​3.3 million square meters. The occupancy rate increased slightly to 93.7%, compared to 93.2% as of December 31, 2024, while the average remaining lease term (WAULT) is 3.6 years.

Strategic real estate sales resulted in a total volume of 185.3 million euros. The equity ratio is currently 44.2%, while the net LTV (loan to value) is 45.2%. Liquid assets amount to 619.9 million euros, which gives the company sufficient scope for future investments. One positive news is that 94.1% of financial liabilities are hedged against interest rate changes.

The IFRS book value per share amounts to 29.02 euros, which corresponds to an increase of 1.5% compared to 28.60 euros at the end of 2024. The EPRA-NTA per share also increased to 31.11 euros (an increase of 1.2% compared to 30.75 euros). These results reflect a solid market position, despite the challenges the company faces.

For further information about CPI Europe AG and its financial situation, those interested can read the full interim statement on the company website cpi-europe.com see.