CPI Europe reported a net profit of €133.5 million during 2024, a significant turnaround from the previous year's loss of €229.5 million.The shift is attributed to stable valuations, with revaluations turning positive at €12.6 million, compared to a loss of €376.8 million in the prior year.
The company actively engaged in portfolio optimization, with strategic property sales amounting to €776.2 million and the acquisition of a new portfolio from CPI Property Group in the Czech Republic, including office properties and retail parks.
Its rental income increased by 10.4% to €589.2 million, up from €533.6 million in the previous year. Results of asset management also saw a substantial rise, increasing by 17.0% to €489.6 million.
Overall, the results of operations improved by 43.3% to €408.7 million.
CPI Europe's property portfolio remains robust, comprising 417 properties valued at almost €8 billion at the end of 2024. The portfolio recorded a high occupancy rate of 93.2% and a weighted average unexpired lease term of 3.6 years.
CPI Europe maintains a solid financial foundation with an equity ratio of 43.2% and a net loan-to-value ratio of 46.4%.
At the same time, the company's cash and cash equivalents stood at €531.7 million at the end of last year.
