Corestate Capital (CCAP) Q2 2025 earnings summary

Executive summary

• Strategic realignment focused on value-maximizing sales of non-core assets, supporting Hannover Leasing, and divesting STAM France, with completion expected mid-September 2025.

• Operational resilience demonstrated in a challenging market, with continued commitment to deleveraging and meeting debt obligations.

Financial highlights

• Aggregated revenue and gains for H1 2025 were €14.0m, down from €15.5m in H1 2024.

• EBITDA for H1 2025 was €-8.3m, compared to €11.8m in H1 2024.

• Net profit for H1 2025 was €-21.2m, versus €28.0m in H1 2024; adjusted net profit was €-19.4m.

• Earnings per share for H1 2025 was €-0.1, down from €0.2 in H1 2024.

• Cash and cash equivalents as of June 30, 2025, were €18.7m; net debt increased to €209.1m.

Outlook and guidance

• Full repayment of the Super Senior Note, including accrued PIK interest, targeted by end of 2025.

• Repayments on Reinstated Senior Notes expected to begin by end of 2025 or early 2026.

• Additional asset disposals are in preparation to support deleveraging.