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Aedifica NV/SA (AED) investor relations material
Aedifica NV/SA Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
80% of Cofinimmo shares tendered in the exchange offer, with legal merger effective July 1, 2026, creating a leading European healthcare REIT.
New Board and Executive Committee appointed to oversee integration and strategic direction.
S&P Global credit rating upgraded to BBB+ with stable outlook after the transaction.
Group portfolio fair value at €12.4 billion, with 923 healthcare sites across 9 countries.
Financial highlights
EPRA earnings rose 19% year-over-year to €74.5 million; EPRA EPS at €1.32/share.
Rental income increased 22% YoY to €113.4 million; like-for-like rental income up 1.6%.
Net profit surged to €432.3 million, driven by a €314.4 million bargain purchase gain from Cofinimmo.
EPRA NTA per share increased to €80.34 from €78.40 at FY2025.
Occupancy rate at 99.2%; WAULT of 15 years.
Outlook and guidance
Full-year guidance for the combined entity to be provided later; DPS 2026 set at €4.20, a 5% increase over 2025.
Dividend policy remains at 80% of recurring consolidated EPRA earnings.
Integration planning and execution ongoing in 2026, with synergy run-rate impact expected in 2027.
- EPRA Earnings up 4% to €244.8m, rental income up 7%, and 100% occupancy achieved.AED
Q4 202513 Feb 2026 - EPRA Earnings up 7% to €234.6m on 8% rental growth, with 100% occupancy and strong outlook.AED
Q4 20243 Feb 2026 - EPRA earnings up 4%, FY2025 EPS guidance raised, and Cofinimmo exchange offer progressing.AED
Q3 202531 Oct 2025 - EPRA earnings up 4%, €6.2bn portfolio, 100% occupancy, and Cofinimmo merger progressing.AED
Q2 202530 Oct 2025 - Q1 2025 saw 13% rental growth, 5% EPRA earnings rise, and 100% occupancy.AED
Q1 202510 Sep 2025 - EPRA earnings and rental income up 7% YoY, portfolio tops €6.1bn, outlook raised.AED
Q3 202413 Jun 2025 - EPRA Earnings up 8%, portfolio tops €6bn, and 2024 guidance raised on strong H1 results.AED
Q2 202413 Jun 2025
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