Strong growth in rental income (€106m: +8%) and an acceleration in recurring net profit (€78m: +16%)
- Strong earnings growth: rental income up +8% (€106m) and recurring net profit accelerating with a +16% increase (€78m)
- 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 make it possible to confirm the 2025 targets announced at the beginning of the year
- Continued increase in the valuation of the portfolio, which stands at €4bn based on a net initial yield of 5.25% (up only slightly compared with the 5.20% yield recorded at the end of 2024)
- The 2025–2026 pipeline is expanding with a third acquisition in 2026 for an investment of over €30m: total investments scheduled for delivery in 2025–2026 now exceed €200m
