Aedifica NV/SA: Interim financial report

Aedifica NV/SA: Interim financial report – 3rd quarter 2025

Gepubliceerd op 28 oktober 2025 om 17:40

Please find below Aedifica’s interim financial report for the 3^rd quarter of the 2025 financial year.

Progress on Aedifica’s exchange offer on all Cofinimmo shares

Aedifica has formally filed its request for approval of the transaction with the Belgian Competition Authority (BCA) on 27 October
Final decision from BCA anticipated within 55 working days

Robust operational performance driving strong results above budget

EPRA Earnings* amounted to €185.8 million (+4% compared to 30 Sept. 2024) or €3.91/share
Rental income increased to €271.8 million (+8% compared to 30 Sept. 2024)
3.1% increase in rental income on a like-for-like basis* in the first 9 months of the year
Weighted average unexpired lease term of 18 years and occupancy rate of 100%

Real estate portfolio* of €6.2 billion as at 30 September 2025

615 healthcare properties for 48,900 end users across 7 countries
Valuation of investment properties increased by 0.4% in Q3 and 0.8% YTD on a like-for-like basis
33 properties were divested for €125 million as part of strategic asset rotation programme (YTD)
€163 million in new investments announced to date in 2025 (14 new projects added to pipeline & 8 acquisitions)
Pipeline of €189 million, offering an average initial yield on cost of 6.5%. 9 projects totalling €81 million have been delivered so far in 2025

Solid balance sheet and strong liquidity

41.2% debt-to-assets ratio as at 30 September 2025
€614 million of headroom on committed credit lines to finance CAPEX and liquidity needs
Average cost of debt* including commitment fees of 2.2%
S&P reconfirmed BBB credit rating and placed Aedifica’s rating on CreditWatch with positive implications following the announcement of the agreement between Aedifica & Cofinimmo to unite
EPRA NTA* of €76.58/share (vs. €76.63/share on 31 Dec. 2024, before distribution of dividend)

Improved outlook for 2025

Estimated EPRA Earnings* per share for the full 2025 financial year are increased to approx. €5.10/share (previously €5.01/share), excluding the transaction costs related to the exchange offer
Proposed dividend for the 2025 financial year reconfirmed: €4.00/share (gross)

Attachments