CBO Territoria Reports a 20% Decline in Consolidated Revenues in 2025
The Reunion-based real estate company recorded consolidated revenues of 53.3 million euros in 2025, down by 13.3 million compared to 2024. This contraction is mainly due to a decline in the Promotion activity, while the company maintains its objectives.
Financial Performance in 2025
CBO Territoria recorded consolidated revenues of 53.3 million euros for the fiscal year 2025, compared to 66.7 million in 2024, marking a 20.0% decrease. This reduction is primarily due to the decline in the Promotion activity, which fell from 38.5 million to 24.9 million euros, a decrease of 13.6 million (-35.3%). This decline is mainly linked to the phasing out of the Pinel Dom scheme, which represents a negative base effect of 6.1 million euros. Concurrently, the company's economic gross rental income reached 30.8 million euros, up 1.6% from 30.3 million in 2024. This increase is particularly due to the full-year impact of the delivery of the France Travail offices in Mayotte in July 2024 and the KFC restaurant in Saint-Joseph in October 2024. In December 2025, the group acquired Villa Saint-Joseph, an office building of over 2,500 square meters located in Saint-Denis, Reunion, which will contribute to the revenues of 2026.
Promotion Activity Dynamics
The Promotion activity showed better dynamics in the second half of the year, with first semester revenues of 11.1 million euros. Residential block sales reached 16.8 million euros in 2025 versus 22.7 million in 2024 (-26.0%). The group finalized 100 residential plots for 21.0 million euros this year, compared to 76 plots for 16.4 million in 2024. The residential order book stands at 22.8 million euros, showing a significant increase of 49.1% compared to 15.3 million at the end of 2024. Sales of building plots amounted to 6.9 million for 43 plots, down 23.9% in value. The order book for plots reached 8.2 million euros. Overall, the order book increased by 49.1% to 22.8 million compared to 15.3 million at the end of 2024. By the end of the year, 251 residential plots were under construction, compared to 166 at the end of 2024.
Asset Portfolio and Rental Income
CBO Territoria manages an economic asset base valued at 379.7 million euros as of the end of June 2025. The company, consisting of diversified tertiary assets (retail, offices, business premises, restaurants, and leisure), generated gross IFRS rental income of 26.9 million euros in 2025 compared to 26.6 million in 2024, an increase of 1.3%. Tertiary rental income accounted for 25.0 million euros, up 1.2%, while agricultural and miscellaneous revenues reached 1.3 million (+10.4%). Ancillary activities slightly decreased to 1.5 million compared to 1.6 million in 2024 (-5.0%). The complete annual results will be published on Tuesday, March 3, 2026, followed by a presentation meeting on March 4 in Paris.
