ESPG AG, a real estate company specializing in science parks, has published its consolidated financial statements for the 2025 financial year, receiving an unqualified audit opinion. The final figures largely confirm the preliminary results announced on March 31, 2026, with Group earnings reaching a positive EUR 2.3 million, a significant improvement from the EUR -24.8 million loss in 2024.
Income from property management increased to EUR 18.0 million, up from EUR 16.4 million the previous year. The result from property management rose to EUR 11.6 million, compared to EUR 7.3 million in 2024. The company achieved EBIT of EUR 9.5 million, a stark contrast to the EUR -11.2 million in 2024, partly due to a one-off effect from the termination of a larger lease agreement. Excluding this effect, Group earnings stood at EUR 0.7 million.
Equity increased slightly to EUR 83.7 million from EUR 79.5 million, and cash and cash equivalents doubled to EUR 4.7 million. The loan-to-value (LTV) ratio remained stable at 57.4%, down marginally from 58.6% in 2024. Ralf Nocker, Member of the Management Board, stated, 'The published financial figures show that we were able to continue on the course we have pursued over the past two years and achieve a positive result. Following the financial reorganisation, we are now once again in a position to act from a solid foundation and drive our projects forward in a targeted manner.'
Christian Fendel, Director of Finance, highlighted the company's financial stability, noting, 'With an LTV of 57.4%, ESPG AG has a high degree of financial stability. This gives us flexibility for further investments in our science parks.' He added that the company is in discussions regarding loan extensions and new financing to support portfolio development.
As of December 31, 2025, the portfolio comprised 16 science parks valued at approximately EUR 215 million. The company continues to focus on developing properties for research-driven tenants in sectors like life sciences, green technologies, and digital transformation. Key operational tasks include reducing vacancies and implementing maintenance and modernization measures.
The audited consolidated financial statements are available for download on ESPG AG's website at https://espg.space/investor_relations/financial-statements/.
