{"id":21157,"date":"2026-02-13T17:53:16","date_gmt":"2026-02-13T17:53:16","guid":{"rendered":"https:\/\/assetphysics.com\/?p=21157"},"modified":"2026-02-13T17:53:16","modified_gmt":"2026-02-13T17:53:16","slug":"aedifica-nv-sa-2025-annual-results","status":"publish","type":"post","link":"https:\/\/assetphysics.com\/de\/aedifica-nv-sa-2025-annual-results\/","title":{"rendered":"Aedifica NV\/SA: 2025 annual results"},"content":{"rendered":"\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3>Aedifica\u2019s Exchange Offer on all Cofinimmo shares is now open<\/h3>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<ul>\n<li>Cofinimmo shareholders are offered 1.185 new Aedifica shares for each share they tender<\/li>\n<li>The Initial Acceptance Period will close on 2 March 2026 (16:00 CET)<\/li>\n<li>Results of the Initial Acceptance Period are expected to be announced on 6 March, with settlement scheduled on 13 March<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3>Robust operational performance driving strong results above budget<\/h3>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<ul>\n<li>EPRA Earnings* amounted to \u20ac244.8 million (+4% compared to 31 Dec. 2024) or \u20ac5.15\/share<\/li>\n<li>Rental income increased to \u20ac361.0 million (+7% compared to 31 Dec. 2024)<\/li>\n<li>2.7% increase in rental income on a like-for-like basis* over the year<\/li>\n<li>Weighted average unexpired lease term of 18 years and occupancy rate of 100%<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3>Real estate portfolio* of \u20ac6.3 billion as at 31 December 2025<\/h3>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<ul>\n<li>618 healthcare properties for nearly 49,100 end users across 7 countries<\/li>\n<li>Valuation of marketable investment properties increased, on a like-for-like basis, by 0.5% in Q4 and 1.3% LTM<\/li>\n<li>34 properties were divested for \u20ac128 million as part of the strategic asset rotation programme<\/li>\n<li>\u20ac293 million in new investments announced in 2025 (22 new projects &amp; forward purchases added to the investment programme &amp; 10 acquisitions)<\/li>\n<li>11 projects totalling \u20ac96 million have been delivered in 2025<\/li>\n<li>Pipeline of \u20ac276 million at the end of 2025, offering an average initial yield on cost of 6.5%<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3>Solid balance sheet and strong liquidity<\/h3>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<ul>\n<li>40.8% debt-to-assets ratio as at 31 December 2025 (compared to 41.3% on 31 Dec. 2024)<\/li>\n<li>\u20ac743 million of headroom on committed credit lines to finance CAPEX and liquidity needs<\/li>\n<li>Long-term bank (re)financing contracted for \u20ac585 million<\/li>\n<li>Average cost of debt* including commitment fees of 2.1%<\/li>\n<li>S&amp;P reconfirmed BBB credit rating and placed Aedifica\u2019s rating on CreditWatch with positive implications following the announcement of the agreement between Aedifica &amp; Cofinimmo to unite<\/li>\n<li>EPRA NTA* of \u20ac78.40\/share (vs. \u20ac76.63\/share on 31 Dec. 2024, before distribution of dividend)<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<\/div>\n\t<\/section>\n\n\n\n\t<section class=\"snk-section snk-section_xs\" >\n\t\t<div class=\"container container-xs\">\n\n\t\t\t\n\n\t\t\t\n\t\t\t\t<div class=\"row snk-textColumns\">\n\t\t\t\t\t\n\t\t\t\t\t\t<div class=\"col col-12 snk-textColumn\">\n\t\t\t\t\t\t\t<div class=\"snk-textBlock\">\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<h3>Dividend confirmed<\/h3>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<ul>\n<li>The proposed dividend of \u20ac4.00 per share (gross), to be distributed in May 2026, is confirmed<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t\t<div class=\"snk-buttons snk-buttons_bigGap\">\n\t\t\t\t\t\t\t\t\t<a class=\"snk-btn-primary\" href=\"https:\/\/aedifica.eu\/wp-content\/uploads\/2026\/02\/AED_CP2026_EN_FY-2025_2026-02-12d_BB.pdf\" target=\"_blank\" rel=\"noopener\"><span>Download the PDF<\/span><\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/section>\n","protected":false},"excerpt":{"rendered":"<p>While an ageing European population is driving the need for additional healthcare real estate capacity<br \/>\nand market sentiment is changing, Aedifica demonstrated in 2025 that it is ready to meet the moment.<\/p>\n","protected":false},"author":361,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_co_authors":[],"footnotes":""},"categories":[875,10],"tags":[],"type_content":[170],"class_list":["post-21157","post","type-post","status-publish","format-standard","hentry","category-dynamics","category-real-estate","type_content-news"],"acf":{"homepage_featured_article":false},"_links":{"self":[{"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/posts\/21157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/users\/361"}],"replies":[{"embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/comments?post=21157"}],"version-history":[{"count":1,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/posts\/21157\/revisions"}],"predecessor-version":[{"id":21250,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/posts\/21157\/revisions\/21250"}],"wp:attachment":[{"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/media?parent=21157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/categories?post=21157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/tags?post=21157"},{"taxonomy":"type_content","embeddable":true,"href":"https:\/\/assetphysics.com\/de\/wp-json\/wp\/v2\/type_content?post=21157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}