Tuesday, 2 December 2025
CPI Europe AG has reported a sharp increase in profitability for the first nine months of 2025, supported by positive revaluation gains and improved financial results. According to the company’s unaudited figures, net profit rose to €236.9 million, up from €50.9 million a year earlier.
Operating profit (EBIT) increased to €396.2 million, reflecting €118.5 million in revaluation gains across standing investments, property development and asset sales. Financial results improved significantly to –€93.6 million, driven by valuation effects on interest derivatives and favourable exchange-rate movements.
Rental income amounted to €412.6 million, slightly below last year’s level, which the company attributes to the strategic disposal of non-core assets. Funds from operations (FFO 1 after tax) stood at €186.1 million, compared with €230.9 million in the same period of 2024.
CPI Europe executed property sales totalling €690.6 million during the period. As of 30 September 2025, the portfolio comprised 365 properties valued at €7.7 billion, with standing investments accounting for 97.8% of total assets and a rentable area of 3.1 million sqm. The portfolio recorded an occupancy rate of 93.9%, while the weighted average unexpired lease term (WAULT) was 3.8 years.
The company reported an equity ratio of 47.8% and a net loan-to-value ratio (net LTV) of 41.0%. Cash and cash equivalents reached €654.7 million. CPI Europe noted that all of its financial liabilities were fully hedged against interest-rate fluctuations. As of the reporting date, IFRS book value per share was €30.39, while EPRA NTA per share increased to €33.08.
The full interim report for the period to 30 September 2025 is available on the company’s website.
CPI Europe also highlighted the publication of results from its sister company, S IMMO AG. For the first three quarters of 2025, S IMMO recorded total revenues of €275.2 million, including €167.3 million in rental income and €13.1 million from hotel operations. Net profit rose to €187.6 million, supported by improved financial results and property sales.
The results notification is available on the S IMMO website.
