The rising dividend, however above all a “two-faced” technique that appears, on the one hand, at residential in Germany and, on the opposite, at places of work and motels in each France and Italy.
The accounts
In 2025, Covivio achieved gross sales of 606 million (463 million group share) and investments of 577 million (446 million group share), contributing to the continual enchancment of the standard of property and its profitability. The common return on gross sales was subsequently 5.3% versus 6.6% on investments.
At the top of 2025, 386 million stay to be collected referring to the gross sales agreements. The group maintains a top quality stability sheet and has obtained roughly 1.5 billion in 100% financing or refinancing (1.1 billion group share), with a mean maturity of greater than 8 years.
Recurring internet earnings will increase by +6 p.c per share, whereas internet asset worth will increase by +4 p.c. For the complete 12 months, the actual property group reported a internet accounting results of 738.7 million euros, in comparison with 68.1 million in 2024, and rental revenues of 1.1 billion (705 million group share), up by +3.7% on a present foundation (+3.4% on a relentless foundation).
The recurring internet revenue rose by 10% to 526.5 million, whereas the recurring working revenue stood at 615.7 million (+8 p.c). Covivio’s property elevated by 3.2% at present perimeter, to 16 billion within the group share (23.7 billion euros at 100%), thanks specifically to the restoration of progress at fixed perimeter, with a rise of two.1% within the 12 months.
Looking forward, in 2026 Covivio has a recurring internet consequence goal of accelerating by roughly 4% per share in comparison with 2025 and goals to proceed its progress path, giving continuity to the implementation of the three strategic instructions, i.e. extraction of the expansion potential of the property, implementation of the provide as an built-in actual property operator and rebalancing of the property between the three asset courses, centered on strengthening the lodge sector (one third in comparison with 21% on the finish of 2025) and the centrality (80% of workplace actual property in city facilities in comparison with 70% on the finish of 2025).
The firm proposed the fee of a money dividend of three.75 euros per share, up 7% on an annual foundation, paid in two tranches, in March and July.
Covivio closed 2025 with «strong progress», as underlined by CEO Christophe Kullmann, «demonstrating the standard of its property and the primary results of asset administration actions. As a diversified actual property operator that makes use of an built-in service mannequin, Covivio has positioned itself in a strategic place to intercept structural modifications out there and proceed its progress path. This dynamic interprets right into a progress goal of 4% of the recurring end in 2026″ stated Kullmann.
The firm reported an acceleration of asset administration throughout all asset courses, specifically with the advertising and marketing of places of work of 135 thousand sq. meters (in Milan the rental dynamic was robust, with a price of occupancy of 97.9%) and continuation of the extraction of worth from the Milanese heritage and, in motels, with the combination of reorganized constructions on the finish of 2024, with a rise in worth of 13% on a relentless perimeter.
Furthermore, revenues from workplace leases elevated by 3.4% on a relentless foundation, these from motels by 7.7% on a relentless foundation and by 1.6% on a relentless foundation and people from residential by 4.8% on a relentless foundation.
https://www.ilsole24ore.com/art/covivio-corrono-conti-e-dividendo-375-euro-7percento-AIBG4zUB