General de Galerías Comerciales SOCIMI (GGC) H1 2025 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2025, reached €111.4 million, up from €94.0 million year-over-year, driven by higher sales of land and increased rental income.

• Net income for the period was €71.1 million, a 22% increase compared to €58.2 million in the same period of 2024.

• The company maintained a strong liquidity position, with cash and equivalents rising to €266.6 million at period end.

Financial highlights

• Operating income rose to €84.2 million from €72.5 million year-over-year.

• EBITDA margin improved, supported by higher rental revenues and controlled operating expenses.

• Cash flow from operations was €87.5 million, up from €57.5 million in the prior year.

• Investment activities generated a net inflow of €99.0 million, mainly from the collection of a €100 million loan.

• Total assets increased to €1.07 billion from €985 million at year-end 2024.

Outlook and guidance

• The company expects continued growth in rental income and ongoing development projects, particularly in Marbella and Madrid.

• No interim dividend was distributed for the period.