Covivio SA

Latest Results (08.09.2025):

Covivio SA reported strong financial performance for the first half of 2025, showcasing a 9% increase in revenue and a 14% rise in recurring earnings. The positive results, driven by portfolio quality improvements and strategic acquisitions, enable the company to pursue more ambitious growth targets for the remainder of the year and raise its 2025 recurring earnings guidance.

Revenue Growth

Covivio SA achieved a consolidated revenue of €527 million for H1 2025, marking an 8.9% increase on a current basis and a 4.9% rise on a like-for-like basis. This growth was supported by strong performance across offices, residential, and hotel segments.

Increase in Recurring Earnings

The company's recurring net result surged by 14% year-on-year to €263.2 million (€2.38 per share), reflecting enhanced operational efficiency and value accretive acquisitions, including the minority stake in CB21.

Active Asset Management

Covivio SA continued its proactive asset management strategy by fully acquiring the CB21 tower and successfully delivering the Corte Italia asset in Milan CBD, which is now 100% leased. The portfolio expanded by 3.1% to €23.6 billion on a current basis.

Enhanced ESG Performance

Improving its sustainability credentials, Covivio SA now has 98.6% of its assets with environmental certification and issued a €500 million 9-year EU Green Bond in June 2025—the first in the real estate sector. Additionally, the share of debt linked to ESG criteria increased to 69%.

Raised 2025 Earnings Guidance

Building on the robust first half, Covivio SA has raised its 2025 recurring net result guidance by 4%, now expecting around €515 million, which represents an 8% increase compared to 2024.