GMP Property SOCIMI (YGMP) H2 2025 earnings summary

Executive summary

• The annual accounts and management report for 2025 were audited by Deloitte, who issued an unqualified opinion, confirming the accounts present a true and fair view in accordance with applicable accounting standards.

• The company operates as a SOCIMI (Spanish REIT), focusing on the acquisition, development, and leasing of urban real estate, mainly offices in Madrid, and has expanded into Flex Living and residential projects.

• The company is listed on BME Growth and maintains a diversified portfolio, with a high occupancy rate and a strong client base.

Financial highlights

• Net revenue for 2025 was €83.9 million, up from €78.8 million in 2024.

• Net income for 2025 reached €95.4 million, a significant increase from €35.6 million in 2024, mainly due to a €50.2 million gain from the sale of the Goya 14 property.

• EBITDA rose to €67.8 million from €58.9 million in 2024.

• Total assets at year-end were €1,297 million, with equity of €507 million.

• The company distributed €35.6 million in dividends in 2025 and proposes €63 million for 2026.

Outlook and guidance

• The company expects continued stability in the Madrid office market, with sustained demand and upward pressure on prime rents.

• Liquidity is considered adequate, with no significant debt maturities until 2026 and ongoing refinancing negotiations for the main syndicated loan.

• The company plans to continue investing in Flex Living and core office assets, maintaining a focus on sustainability and ESG initiatives.