EQS-News: CPI Europe AG / Key word(s): Quarterly / Interim Statement/Real
Estate
CPI Europe starts the 2025 financial year with solid performance
28.05.2025 / 18:09 CET/CEST
The issuer is solely responsible for the content of this announcement.
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CPI Europe AG
Wienerbergstrasse 9
1100 Vienna, Austria
FN 114425y Commercial Court of Vienna
VAT ID: ATU 37681807
Data Processing Register No. 0607274
Press Release – Corporate News
Vienna, 28 May 2025
CPI Europe starts the 2025 financial year with solid performance
• Rental income lower year-on-year at €139.0 million following strategic
property sales
• Results of operations with slight increase of 1.4% to €105.7 million
• EBIT at €90.7 million and net profit of €47.5 million
• FFO 1 after tax amounts to €57.1 million
• Cash and cash equivalents at high level of €619.9 million
• Robust financial base with equity ratio of 44.2% and net LTV of 45.2%
KEY DATA Q1 2025 Q1 2024 Δ in %
Rental income € million 139.0 143.2 (2.9)
Results of asset management € million 116.5 120.0 (2.9)
Results from owner-operated hotels € million (0.9) 0.4 n. a.
Results of property sales € million 9.4 0.4 ≥ +100.0
Results of property development € million (0.2) (0.5) 62.3
Results of operations € million 105.7 104.3 1.4
Revaluations € million (14.3) (9.9) (44.4)
EBIT € million 90.7 93.7 (3.2)
Financial results € million (28.9) (22.3) (29.6)
EBT € million 61.7 71.3 (13.4)
Net profit € million 47.5 49.7 (4.3)
FFO 1 after tax € million 57.1 69.7 (18.0)
CPI Europe started the 2025 financial year with solid performance and
rental income amounted to €139.0 million in the first quarter 2025. The
year-on-year decline in rental income is, however, attributable to
property sales in the 2024 financial year. The results of asset management
were also slightly below the previous year with a decline of 2.9% to
€116.5 million. The results of operations improved by 1.4% to
€105.7 million. FFO 1 after tax equalled €57.1 million in the first
quarter of 2025 (Q1 2024: €69.7 million).
Revaluations (including property development and property sales) totalled
–€14.3 million, compared with –€9.9 million in first quarter of the
previous year. Financial results were also below the comparable prior year
value at –€28.9 million (Q1 2024: –€22.3 million), chiefly due to a
substantial reduction in non-cash positive valuation effects from interest
rate derivatives in the first quarter of 2025. CPI Europe generated net
profit of €47.5 million in the first quarter of 2025.
Successful portfolio optimisation and high occupancy rate
The CPI Europe property portfolio included 389 properties with a combined
value of €7,816.0 million as of 31 March 2025 (31 December 2024: 417
properties with a carrying amount of €7,983.6 million). Standing
investments represented the largest component at €7,621.1 million, or
97.5% of the carrying amount, and 3.3 million sqm of rentable space. The
occupancy rate equalled 93.7% (31 December 2024: 93.2%) and the weighted
average unexpired lease term by rental income (WAULT) 3.6 years. CPI
Europe continued its strategic property sales with a volume of €185.3
million.
Robust balance sheet
CPI Europe had a balance sheet structure with an equity ratio of 44.2% and
a solid net loan-to-value ratio (net LTV) of 45.2% as of 31 March 2025.
Cash and cash equivalents totalled €619.9 million. Roughly 94.1% of
financial liabilities were hedged against changes in interest rates.
The IFRS book value per share rose by 1.5% to €29.02 (31 December 2024:
€28.60). The EPRA NTA per share improved by 1.2% to €31.11 as of 31 March
2025, compared with €30.75 at the end of December 2024.
The interim financial report by CPI Europe AG on the first quarter of 2025
as of 31 March 2025 is available on the company’s website under
(1)cpi-europe.com starting on 28 May 2025.
Interim financial statements by S IMMO AG
S IMMO AG published its results on the first quarter of 2025 yesterday.
Revenues rose from €84.6 million in the first quarter of the previous year
to €89.2 million. Rental income totalled €55.4 million (Q1 2024:
€50.9 million) and was 9% higher than in the previous year. Gross profit
improved from €48.9 million in the first quarter of 2024 to €59.4 million.
The sound operating development was also reflected in EBITDA, which rose
by 22% to €49.8 million (Q1 2024: €41.0 million).
Overall, net profit for the period improved to €38.9 million (Q1 2024:
€21.1 million) and is attributable mainly to the positive operating
results. Earnings per share equalled €0.66 (Q1 2024: €0.09).
After the reporting period, on 22 May 2025, the contemplated sale of the
Hotel Marriott Vienna property was signed. The transaction volume amounts
to more than €100 million. The closing will take place in several
tranches. The first closing for the sale of the real estate is expected in
the second quarter 2025. The closing for the hotel operations is expected
in January 2026.
For additional details, see the interim financial statements on the first
quarter of 2025 on the S IMMO website under (2)simmoag.at.
For additional information contact:
Investor Relations and Corporate Communications
Simone Korbelius
Investor Relations and Corporate Communications
T +43 (0)1 88 090 2291
M +43 (0)699 1685 7291
communications@cpi-europe.com
Investor.Relations@cpi-europe.com
For more CPI Europe content, visit our website: www.cpi-europe.com
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28.05.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
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Language: English
Company: CPI Europe AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 1 88090 - 8291
E-mail: Investor.Relations@cpi-europe.com
Internet: http://cpi-europe.com/
ISIN: AT0000A21KS2
WKN: A2JN9W
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich,
Stuttgart, Tradegate Exchange; Warschau, Vienna Stock
Exchange (Official Market)
EQS News ID: 2147016
End of News EQS News Service
2147016 28.05.2025 CET/CEST
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