Aedifica SA
AED
ISIN BE0003851681 / Valor 2736001
Aedifica SA
UMushroom community rating:
About company
Aedifica SA is a real estate investment company specializing in healthcare real estate, with a focus on care homes and senior living facilities across Europe. The company has a diverse portfolio that includes properties in Finland, the United Kingdom, Belgium, Germany, the Netherlands, and Spain. In Finland, Aedifica operates through its subsidiary Hoivatilat, managing care homes, day-care centers, and specialist residential care centers. The UK market saw Aedifica's entry in 2019 with the acquisition of 90 care homes, and the company has since expanded its presence there. In Belgium, Aedifica has been active since 2006, amassing a substantial portfolio of care homes and senior apartments. The company entered the German market in 2013 and the Dutch market in 2016, both of which have seen significant growth in their portfolios. Aedifica is also investing in new projects in Spain, with developments underway in Sevilla and Zamora. The company's strategy involves acquiring and developing purpose-built, modern care facilities, with a focus on geographical diversification and potential for property enhancements.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (13.01.2026):
Aedifica SA's Q3 2025 interim results show a strong operational quarter: EPRA Earnings of €185.8m (+4% y/y, €3.91/sh), rental income of €271.8m (+8% y/y) and a resilient €6.19bn real‑estate portfolio. The group delivered positive like‑for‑like valuation and rental growth, maintained full occupancy and a conservative balance‑sheet profile while progressing on its proposed all‑share exchange offer for Cofinimmo.
Profit & income
EPRA Earnings (9M to 30 Sep 2025) were €185.8m (+4% vs 9M 2024) or €3.91/share. Rental income reached €271.8m (+8% y/y) with like‑for‑like rental growth of 3.1% for the period.
Portfolio and valuations
The fair value of the real estate portfolio was €6,192m as at 30 Sep 2025 (615 properties). Occupancy was 100% and WAULT 18 years. Expert valuations rose +0.4% in Q3 and +0.8% YTD on a like‑for‑like basis.
Investments, pipeline & disposals
Aedifica announced ~€163m of investments in 2025 (8 acquisitions + 14 new projects) and has an investment programme/pipeline of ~€189m (avg initial yield on cost ~6.5%). It divested 33 properties YTD for ~€125m as part of asset rotation.
Balance sheet & liquidity
Consolidated debt‑to‑assets was 41.2% (below the 45% internal limit). Available headroom on committed credit lines: €614m. Average cost of debt incl. commitment fees: 2.2%. Short‑term treasury notes at €380.1m backed by facilities.
Credit rating
S&P reconfirmed Aedifica’s BBB rating and placed it on CreditWatch positive following the Cofinimmo agreement (possible one‑notch upside if transaction proceeds).
Exchange offer on Cofinimmo
Aedifica SA filed the transaction with the Belgian Competition Authority on 27 Oct 2025; the exchange offer is 1.185 Aedifica shares per Cofinimmo share, subject to a 50%+1 acceptance and competition approval. Aedifica offered potential divestment commitments (~€300m in Belgium) to address IPS concerns; final BCA decision anticipated within 55 working days, with the acceptance period expected around end‑Jan 2026.
Outlook & dividend
Standalone 2025 outlook (ex‑transaction costs): estimated rental income ~€360m, EPRA Earnings ~€242m (~€5.10/share, revised up from €5.01), and proposed gross dividend reconfirmed at €4.00/share (payable May 2026).
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
4123 M
Market cap (USD)
134,661
Daily traded volume (Shares)
56.1 / 55.6
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
Est EPS (USD)
Ratings & reviews
EQUITIES OF THE SAME SECTOR
