CPI Europe reported a slight dip of 2.9% in rental income to €139.0 million during Q1 2025 versus the same period of last year over strategic property divestitures.
Despite this, results of operations saw a positive increase of 1.4%, reaching €105.7 million. Net profit for the period stood at €47.5 million.
The company's property portfolio at the end of Q1 2025 comprised 389 properties with a combined value of €7.8 billion. This is a reduction from 417 properties valued at €7.9 billion at the end of 2024, reflecting CPI Europe's ongoing strategic property sales, which amounted to €185.3 million in volume.
Standing investments constitute the largest portion of the portfolio, valued at €7.6 billion and representing 97.5% of the total carrying amount. The occupancy rate remained at 93.7%.
On the financial side, CPI Europe registered an equity ratio of 44.2% and a net loan-to-value ratio (net LTV) of 45.2% at the end of Q1 2025. Its cash and cash equivalents amounted to €619.9 million.
Meanwhile, S Immo saw revenues of €89.2 million in Q1 2025 from €84.6 million in Q1 2024, while rental income rose 9% to €55.4 million.
Its net profit significantly improved to €38.9 million, primarily due to positive operating results, with earnings per share reaching €0.66.
Post-reporting period, on May 22, the company inked the sale of Hotel Marriott Vienna for over €100 million.
