)

Covivio (COV) investor relations material
Covivio H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue grew 9% year-over-year to €527 million (100%) and €356 million (Group share), with like-for-like growth of 5%.
Recurring net result (Adjusted EPRA earnings) rose 14% year-over-year to €263.2 million (€2.38/share, +6%).
Net income reached €341.4 million, a significant turnaround from a loss in H1 2024, driven by portfolio value recovery and strong rental growth.
Portfolio value increased 3.1% to €16.0 billion (Group share), with like-for-like growth of 1.5%.
2025 recurring net result guidance raised by 4% to €515 million (+8% vs. 2024), reflecting improved outlook and disciplined capital management.
Financial highlights
Operating income up 12% year-over-year to €309.1 million, with margin improving to 85%.
Net asset value (EPRA NTA) per share at €80.4, up 3.5% year-over-year and 0.7% in H1.
Loan-to-value (LTV) ratio at 39.8%, net debt/EBITDA improved to 10.7x.
High occupancy rates: 97.3% overall, 95.5% offices, 99.0% German residential, 100% hotels.
€719 million refinanced in H1 2025, including €500 million in 9-year EU Green Bonds.
Outlook and guidance
2025 recurring net result guidance raised to €515 million (+8% vs. 2024, +4% per share to €4.64).
Positive market signals in European real estate, with investment volumes up and office take-up stabilizing.
Liquidity of €2.3 billion covers debt maturities until 2027, supporting financial flexibility.
Ongoing focus on portfolio quality, asset rotation, and ESG-linked financing.
Hotel outlook remains strong, especially in Southern Europe and Paris.
Next Covivio earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
)
)
)
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage