Creating Europe’s leading healthcare REIT
On 10 March 2026, Aedifica acquired control over Cofinimmo with 80% of the shares tendered during the exchange offerOn 1 July 2026, Cofinimmo was delisted from Euronext following a legal merger by absorption with AedificaA new Board of Directors and Executive Committee have been appointed
Robust operational performance driving strong results
EPRA Earnings per share increased to €2.71 (+5% compared to 30 June 2025), highlighting the accretiveness of the Cofinimmo transactionEPRA Earnings amounted to €189.9 million (+54% compared to 30 June 2025)Rental income increased to €292.3 million (+62% compared to 30 June 2025)1.7% increase in rental income on a like-for-like basis in H1Weighted average unexpired lease term of 15 years and occupancy rate of 99.1%
Real estate portfolio of €12.5 billion as at 30 June 2026
Healthcare portfolio of €11.1 billion: 924 properties for over 80,000 end users across 9 countriesValuation of marketable investment properties increased by 0.35% on a like-for-like basis in H1€84 million of new investments in H1, with an additional €111 million announced over summer, bringing the investment total to €195 million YTDInvestment programme of €531 million as at 30 June 2026
Solid balance sheet and strong liquidity
42.7% debt-to-assets ratio as at 30 June 2026 (incl. seasonal effect of dividend payment; compared to 40.8% on 31 Dec. 2025)€1,487 million of headroom on committed credit lines to finance CAPEX and liquidity needs€620 million inaugural syndicated credit facility for the combined entity, bringing the total amount of long-term bank (re)financing contracted to €930 millionAttractive average cost of debt incl. commitment fees of 1.9%S&P reconfirmed BBB+ credit rating (stable outlook) and A-2 short-term issuer rating
Outlook for 2026
EPRA Earnings for 2026 are estimated at €436 million, or €5.35/shareA dividend of €4.20/share (gross) proposed for the 2026 financial year, increasing by 5%With legal merger completed, expected synergies will accelerate further, reaching full run-rate impact of at least €16 million during 2027
