Carmila Reports Strong Q2 2025 Earnings, Raises 2025 Outlook

Carmila reported strong financial performance in its first-half 2025 results, with net rental income up 15.4% to €203.4 million and EBITDA up 14.1% to €176.9 million. The company's leasing performance was also strong, with 467 leases signed and a positive 3.3% reversion rate. Recurring earnings per share increased 7.1% to €0.93. Carmila's portfolio valuation rose 1.1% to €6,690.2 million, and the net Initial Yield remained stable at 6.60%. The company's loan-to-value ratio was 39.7%, and net-debt-to-EBITDA ratio was 7.6x. Carmila revised its 2025 guidance upwards, expecting recurring earnings per share of €1.79, up 7.0% versus 2024.

Carmila (Paris: CARM) has reported robust financial performance in its first-half 2025 results, reflecting the company's strategic focus on asset transformation and capital optimization. Key highlights include a 15.4% increase in net rental income to €203.4 million and a 14.1% rise in EBITDA to €176.9 million. The company's leasing performance was also impressive, with 467 leases signed and a positive 3.3% reversion rate [1].

Carmila's recurring earnings per share increased by 7.1% to €0.93, demonstrating strong operational momentum. The company's portfolio valuation rose by 1.1% to €6,690.2 million, while the net initial yield remained stable at 6.60%. The loan-to-value ratio was 39.7%, and the net-debt-to-EBITDA ratio stood at 7.6x, indicating a solid financial structure [1].

Carmila's 2025 guidance was revised upwards, with the company expecting recurring earnings per share of €1.79, up 7.0% from 2024. This positive outlook underscores the company's ability to generate sustainable growth and maintain its financial resilience [1].

The successful integration of Galimmo has played a significant role in Carmila's enhanced performance. The transaction generated €5 million in cost savings and has an internal rate of return of more than 40%. Galimmo's integration has also improved its operating indicators, with financial occupancy at 93.5% and a collection rate of 96.0% over the first half of 2025 [1].

Carmila's strategic plan, "Building Sustainable Growth," has proven effective in its fourth year. The company's focus on asset transformation, optimized capital allocation, and proactive asset rotation has driven its strong performance. Carmila's commitment to carbon neutrality and innovative growth initiatives further underscores its long-term vision [1].

References:

[1] https://finance.yahoo.com/news/carmila-first-half-2025-results-154000480.html