IIA IMMOFINANZ AG

EQS-News: CPI Europe with sound earnings development and robust balance sheet in 2024

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.


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 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

 

For more on CPI Europe, visit our website: -europe.com

 



28.03.2025 CET/CEST This Corporate News was distributed by EQS Group.


Language: English
Company: CPI Europe AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: 291
E-mail:
Internet: -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

EN
28/03/2025

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