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.
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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
[1]cpi-europe.com 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
communications@cpi-europe.com
investor.relations@cpi-europe.com
For more on CPI Europe, visit our website: www.cpi-europe.com
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28.03.2025 CET/CEST This Corporate News was distributed by EQS Group.
www.eqs.com
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Language: English
Company: CPI Europe AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 – 2291
Fax: +43 1 88090 – 8291
E-mail: Investor.Relations@cpi-europe.com
Internet: http://cpi-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
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