Report
Wim Lewi

Xior 9m25 Results: new rental season to accelerate in 4Q25

Xior reported EPRA EPS of €1.52 that came slightly below our €1.53 expectation (excl. IFRIC costs). However, Xior confirmed its flat EPRA EPS outlook for FY25 of 2.21 per share. The new rental season in Iberia and Poland starts mainly in 4th quarter. Xior NRI rose 7% yoy and like-for-like growth remained strong at 5.42%. LTV% continued below 50% at 49.75%. The cost of debt decreased slightly from 3.10% (FY24) to 3.06%. The asset disposal program has largely terminated and Xior gradually develops its historic Dutch landbank pipeline. The current pipeline has an expected rental income of 10.5m with a cost-to-come of EUR 22m. US and UK universities suffer from lower international student entries due to the Trump crack-down and Brexit. We see that as an opportunity as the international student segment remains a resilient market.
Underlying
Xior Student Housing N.V.

Xior Student Housing NV is a Belgium-based company active in the field of residential Real Estate. The Company's offer is mainly for students and it includes several types of rooms for rent, including a student house in Leiden.

Provider
KBC Securities
KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

 

Analysts
Wim Lewi

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