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

28 Oct 2025 17:40 CET

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

• Interim financial report Q3 2025 - EN
• Rapport financier intermédiaire Q3 2025 - FR
• Tussentijds financieel verslag Q3 2025 - NL

AED_CP2025_EN_Q3 2025_2025 10 28_BB.pdf
AED_CP2025_FR_Q3 2025_2025 10 28c_BB.pdf
AED_CP2025_NL_Q3 2025_2025 10 28_BB.pdf