17 July 2025
- Strong growth in results: Rental income increased by +8% (€106 million), and recurring net income accelerated, rising by +16% (€78 million).
- Continued deleveraging: LTV stands at 42% (43% at end-2024), and the net debt to EBITDA ratio is 8.6x (9.2x at end-2024).
- These financial results confirm the 2025 targets announced at the beginning of the year.
- Ongoing increase in asset valuation, now reaching €4 billion based on a net capitalization rate of 5.25% (only a slight increase compared to the 5.20% rate recorded at the end of 2024).
- The 2025–2026 pipeline is expanding with a third acquisition planned for 2026, involving an investment of over €30 million: total investments scheduled for delivery in 2025–2026 now exceed €200 million.