Vitura (VTR) H1 2025 earnings summary

Executive summary

• Rental income reached €21.9 million in H1 2025, stable year-over-year.

• Portfolio value stood at €872 million as of June 30, 2025.

• Occupancy rate improved to 77%, up 8 points from December 2024.

• Prestigious tenants, including BPCE Group and Paris-Dauphine University, signed significant leases.

• Asset repositioning and tenant retention strategies are yielding positive results.

Financial highlights

• EPRA earnings rose to €1.9 million from €0.4 million year-over-year (like-for-like basis).

• IFRS net loss narrowed to €11.0 million from €45.2 million year-over-year (like-for-like).

• EPRA NTA stable at €277 million (€16.2 per share).

• LTV ratio at 68.4%, with net debt of €597 million.

• 85% of debt hedged at a 0.50% rate, containing financial expenses.

Outlook and guidance

• Ongoing discussions to extend €90 million in debt maturities.

• Continued focus on energy efficiency and carbon neutrality by 2050.

• Asset management teams preparing for new tenant move-ins in H2 2025.