Ascencio (ASCE) Q3 24/25 earnings summary

Executive summary

• Rental income increased by 1.8% year-over-year to €40.6 million, driven by rent indexation and partially offset by portfolio changes and lower occupancy.

• Net result rose 25.9% year-over-year to €26.4 million, mainly due to a smaller decline in hedging instrument values.

• EPRA occupancy rate was 96.0% at 30/06/2025, impacted by tenant departures but expected to improve with new lease agreements.

• Portfolio fair value remained stable at €745.2 million, with disposals exceeding recent fair values.

Financial highlights

• EPRA Earnings increased by 2.1% year-over-year to €28.5 million.

• EPRA Earnings per share rose to €4.32 from €4.23 year-over-year.

• Intrinsic value (EPRA NTA) per share was €65.81, nearly unchanged from €65.80 at 30/09/2024.

• Debt ratio (EPRA LTV) improved to 41.8% from 42.1% at 30/09/2024.

• Average cost of debt decreased to 2.15% from 2.22% the previous year.

Outlook and guidance

• Dividend for the current financial year is expected to be at least in line with the previous year, assuming stable macroeconomic conditions.