EQS-News: CPI Europe AG / Key word(s): Annual Results/Real Estate
CPI Europe with sound earnings development and robust balance sheet in
2024
28.03.2025 / 18:29 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 HG Wien
UID: ATU 37681807
DVR 0607274
Presse Release – Corporate News
Vienna, 28 March 2025
CPI Europe with sound earnings development and robust balance sheet in
2024
• Significant growth in all relevant indicators
• Rental income up 10.4% to €589.2 million
• Results of asset management increased by 17.0% to €489.6 million
• Results of operations rose by 43.3% to €408.7 million
• EBT at €206.0 million and net profit at €133.5 million clearly in the
plus zone
• FFO 1 after tax increased by 20.2% to €274.5 million
• Cash and cash equivalents were at a high level of €531.7 million
• Robust financial basis with equity ratio of 43.2% and net LTV of 46.4%
KEY FIGURES 2024 2023 Δ IN %
Rental income € million 589.2 533.6 10.4
Results of asset management € million 489.6 418.5 17.0
Results from owner-operated hotels € million 9.8 2.0 ≥ +100.0
Results of property sales € million 0.1 (38.3) n. a.
Results of property development € million (4.1) (25.6) 84.0
Results of operations € million 408.7 285.1 43.3
Revaluations € million 12.6 (376.8) n. a.
EBIT € million 419.4 (67.1) n. a.
Financial results € million (213.3) (246.1) 13.3
EBT € million 206.0 (313.1) n. a.
Net profit or loss € million 133.5 (229.5) n. a.
FFO 1 after tax € million 274.5 228.4 20.2
CPI Europe generated significant growth in all relevant key figures during
the 2024 financial year. Rental income rose by 10.4% year-on-year to
€589.2 million. The results of asset management, at €489.6 million, were
17.0% higher than in the previous year, and the results of operations
improved significantly by 43.3% to €408.7 million. As a result, FFO 1
after tax rose substantially by 20.2% year-on-year to €274.5 million
(2023: €228.4 million).
Net profit due to stable valuations
Revaluations (including property development and property sales) turned
positive at €12.6 million, compared with a loss of €376.8 million in the
previous year. This improvement reflects the market stabilisation that
resulted from the downward trend in interest rates and inflation during
2024. Financial results improved to –€213.3 million after –€246.1 million
in the previous year, above all due to a substantial decline in non-cash
negative valuation effects from interest derivatives during the 2024
financial year. Net profit recorded by CPI Europe totalled €133.5 million.
Successful portfolio optimisation and high occupancy rate
The CPI Europe property portfolio included 417 properties with a combined
value of €7,983.6 million as of 31 December 2024 (31 December 2023: 518
properties with a carrying amount of €8,174.3 million). Of this total,
€7,797.6 million, or 97.7%, of the carrying amount represents standing
investments with 3.4 million sqm of rentable space. The occupancy rate was
93.2% (31 December 2023: 92.2%). The weighted average unexpired lease term
by rental income (WAULT) equalled 3.6 years.
CPI Europe continued its strategic property sales with a volume of €776,2
million. At the same time, the company acquired a portfolio from CPI
Property Group in the Czech Republic. The purchase included four
attractive office properties and four retail parks.
Robust balance sheet
With an equity ratio of 43.2% and a solid net loan-to-value ratio (net
LTV) of 46.4%, CPI Europe had a robust balance sheet structure as of
31 December 2024. Cash and cash equivalents amounted to €531.7 million.
Roughly 89.5% of financial liabilities were hedged against changes in
interest rates.
The IFRS book value per share increased by 7.5% to €28.60 (31 December
2023: €26.60). The EPRA NTA per share improved by 9.8% to €30.75 as of 31
December 2024, compared with €28.00 at the end of December 2023.
The financial report by CPI Europe AG for the 2024 financial year as of
31 December 2024 will be available on the company’s website under
(1)cpi-europe.com starting on 28 March 2025.
For further information, please 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 on CPI Europe, visit our website: www.cpi-europe.com
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28.03.2025 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: 2108526
End of News EQS News Service
2108526 28.03.2025 CET/CEST
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