CPI Europe AG reported a net profit of €47.5 million for the first quarter of 2025, as the company began the new financial year with a stable operational performance. Rental income totalled €139.0 million during the period, reflecting a decline compared to the previous year, mainly due to property disposals carried out in 2024. Asset management results fell slightly by 2.9% year-on-year to €116.5 million, while operating results saw a modest increase of 1.4% to €105.7 million. Funds from operations (FFO 1) after tax amounted to €57.1 million, compared with €69.7 million in Q1 2024. Revaluations, including property development and sales, resulted in a negative impact of €14.3 million, a deterioration from the –€9.9 million recorded in the same quarter of 2024. Financial results also declined to –€28.9 million, influenced largely by lower non-cash positive valuation effects from interest rate derivatives. As of 31 March 2025, CPI Europe managed a portfolio of 389 properties valued at €7.82 billion, down from 417 properties worth €7.98 billion at the end of 2024. Standing investments made up 97.5% of the portfolio’s carrying value and represented 3.3 million square metres of rentable space. The occupancy rate improved to 93.7%, up from 93.2%, and the WAULT (weighted average unexpired lease term by rental income) stood at 3.6 years. Property sales in the first quarter reached a volume of €185.3 million. The company maintained a robust balance sheet, with an equity ratio of 44.2% and a net loan-to-value (LTV) ratio of 45.2%. Cash and cash equivalents amounted to €619.9 million, while 94.1% of financial liabilities were hedged against interest rate fluctuations. Book value per share under IFRS increased by 1.5% to €29.02, and the EPRA Net Tangible Assets (NTA) per share rose by 1.2% to €31.11. The interim financial report as of 31 March 2025 is available on CPI Europe’s website from 28 May 2025. Meanwhile, S IMMO AG, also part of the CPI Property Group, released its first quarter results, showing improved financial performance. Revenue increased to €89.2 million, up from €84.6 million in Q1 2024. Rental income rose by 9% to €55.4 million, and gross profit climbed to €59.4 million from €48.9 million a year earlier. EBITDA reached €49.8 million, marking a 22% increase year-on-year. Net profit for the period rose to €38.9 million, compared with €21.1 million in the first quarter of 2024. Earnings per share came in at €0.66, up from €0.09. The performance was supported by solid operating results. After the reporting period, S IMMO signed a deal on 22 May 2025 for the sale of the Hotel Marriott Vienna. The transaction exceeds €100 million and will be completed in multiple phases. The real estate transfer is expected to close in the second quarter of 2025, with the hotel operations sale scheduled for completion in January 2026.