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Aedifica NV/SA: 2025 annual results

Aedifica

Fri, February 13, 2026 at 3:30 PM GMT+9 2 min read

In this article:

AEDFF

-15.13%

CFMOF

-29.84%

Aedifica

Please find below a press release from Aedifica (a public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), regarding its 2025 annual results.

Aedifica’s Exchange Offer on all Cofinimmo shares is now open

Cofinimmo shareholders are offered 1.185 new Aedifica shares for each share they tender

The Initial Acceptance Period will close on 2 March 2026 (16:00 CET)

Results of the Initial Acceptance Period are expected to be announced on 6 March, with settlement scheduled on 13 March

Robust operational performance driving strong results above budget

EPRA Earnings* amounted to €244.8 million (+4% compared to 31 Dec. 2024) or €5.15/share

Rental income increased to €361.0 million (+7% compared to 31 Dec. 2024)

2.7% increase in rental income on a like-for-like basis* over the year

Weighted average unexpired lease term of 18 years and occupancy rate of 100%

Real estate portfolio of €6.3 billion as at 31 December 2025*

618 healthcare properties for nearly 49,100 end users across 7 countries

Valuation of marketable investment properties increased, on a like-for-like basis, by 0.5% in Q4 and 1.3% LTM

34 properties were divested for €128 million as part of the strategic asset rotation programme

€293 million in new investments announced in 2025 (22 new projects & forward purchases added to the investment programme & 10 acquisitions)

11 projects totalling €96 million have been delivered in 2025

Pipeline of €276 million at the end of 2025, offering an average initial yield on cost of 6.5%

**Solid balance sheet and strong **liquidity

40.8% debt-to-assets ratio as at 31 December 2025 (compared to 41.3% on 31 Dec. 2024)

€743 million of headroom on committed credit lines to finance CAPEX and liquidity needs

Long-term bank (re)financing contracted for €585 million

Average cost of debt* including commitment fees of 2.1%

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 €78.40/share (vs. €76.63/share on 31 Dec. 2024, before distribution of dividend)

Dividend confirmed

The proposed dividend of €4.00 per share (gross), to be distributed in May 2026, is confirmed

Attachments

Press release EN

Communiqué de presse FR

Persbericht NL

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