Tuesday, 24 March 2026
SES Spar European Shopping Centers reported an increase in tenant sales across its portfolio in 2025, supported by continued leasing activity and stable performance in key markets.
Retail partners operating in SES-managed centres generated total sales of €3.61 billion, up from €3.54 billion in 2024. On a comparable basis, adjusted for construction and expansion activity, sales increased by 2.7% year-on-year. Visitor numbers reached 116 million, slightly below the previous year due to ongoing redevelopment works at several locations.
The company manages more than 870,000 sqm of retail space across six countries, including Austria, Slovenia, Italy, Hungary, Croatia and the Czech Republic, with over 1,900 tenants.
In Austria, SES recorded a 1.4% increase in tenant sales to more than €2.2 billion. The company operates 16 shopping centres in the country, alongside a retail park and a managed shopping street.
“Since 2007, alongside the food retail sector we have developed a second strong pillar in the SPAR Group with SES, which is excellently networked in all our markets and throughout Europe,” said Marcus Wild, Chairman of the SES Supervisory Board. “The expansion of these shopping destinations requires in-depth expertise and long-term project development.”
Chief Executive Christoph Andexlinger said the company’s performance reflects its ability to adapt to changing market conditions. “One of the central success factors of SES is resilience. It gives us the flexibility to continuously develop our locations and turn shopping centres into broader destinations.”
During the year, SES signed or extended more than 460 lease agreements, covering approximately 115,000 sqm of space. Activity included new store openings and contract extensions with established tenants across its portfolio.
Performance varied across markets. In Slovenia, sales across six locations increased to more than €800 million, while revenues in Italy remained broadly stable at over €330 million. The company also reported growth at its Hungarian assets and a moderate increase in tenant sales at its centre in Prague.
SES expanded its portfolio in 2025 with the acquisition of the ARKADIA retail park in Domžale, Slovenia. The company also continued development activity, including refurbishment works in Zagreb and an extension project at EUROPARK Salzburg.
“We are also particularly pleased with the qualitative expansion through our new health parks segment,” Wild added, referring to a joint initiative aimed at integrating healthcare services into selected retail locations.
The company continued to invest in asset upgrades and energy efficiency measures, including photovoltaic installations and building modernisation. SES also reported reduced energy consumption across its portfolio, alongside ongoing initiatives focused on tenant mix and visitor experience.
