CPI Property Group Reports 2024 Financial Results

CPI Property Group S.A. has released its audited financial results for the year ending December 2024. The group reported total assets of €20.6 billion, marking a decline due to property disposals. Despite this, the company's net rental income remained stable at €795 million, thanks to like-for-like rental growth of 3.0%. However, net profit recorded a loss of €197 million, an improvement from the previous year's €877 million loss.

CPIPG's property portfolio was valued at €18.2 billion, with highlighted progress in debt reduction—net debt decreased by €1.2 billion. The occupancy rate improved to 92.1%, while net loan-to-value was reduced to 49.6%. Additionally, €1.35 billion in bonds were issued, with funds used to repay existing liabilities.

Sustainability efforts were acknowledged, with green-certified assets increasing to 47.7% in value. A comprehensive sustainability report will be released in April 2025. An annual webcast to discuss these results is scheduled for April 7, 2025.