Nextensa Reports a Net Result of 33.2 Million Euros in 2025, Reversing Previous Year's Loss

Financial Turnaround and Dividend Proposal

Nextensa recorded a net result attributable to the group of 33.2 million euros in 2025, equivalent to 3.29 euros per dividend-entitled share, compared to a deficit of 10.8 million euros the previous year. This 33.8 million euro improvement was primarily due to an increased contribution of 1.8 million euros from development activities, a reduction in financing costs by 9.2 million euros, and disciplined operational and financial management. In a volatile market environment, the investment property portfolio demonstrated resilience with limited value adjustments. This positive development reflects the continuation of strengthening the group's balance sheet, embedded in a targeted capital recycling strategy over the 2024 and 2025 fiscal years. The board of directors proposes a dividend distribution of 1.00 euro per share.

Significant Transactions and Financial Flexibility

The group executed several transactions totaling 360 million euros during the 2024 and 2025 fiscal years, reducing its debt ratio from 45.39% to 38.80%, significantly enhancing its financial flexibility. These disposals include the Knauf shopping centers, the Ingeldorf retail site, the Monteco office building, and a stake in Retail Estates. The average cost of financing stabilized at 2.90%, supported by the group's hedging strategy. By the end of the 2025 fiscal year, Nextensa had a financing margin of 169 million euros on its available credit lines, which increased to over 200 million euros following the mid-January 2026 disposal of Gewerbepark Stadlau. The majority of credit lines maturing in 2026 have already been extended, facilitating the repayment of the 100 million euro private bond due in November 2026.

Upcoming Projects and Pre-Commercialization Achievements

The Lake Side and BEL Towers projects are expected to commence in 2026, subject to obtaining permits and commercialization. Lake Side will involve construction costs of approximately 265 million euros for the Proximus headquarters and the residential tower, while BEL Towers, a mixed redevelopment project of 115,000 square meters, will cost around 300 million euros. At Tour & Taxis, Proximus has confirmed the site as the location for its future headquarters, with full pre-commercialization of the 38,000 square meter Lake Side office project. Across the entire development portfolio, constant perimeter rental income grew by more than 3% over the fiscal year. At Cloche d'Or in Luxembourg, several built-to-suit office projects have been secured, including The Terraces of 4,600 square meters for Lombard Odier and Eosys of 12,000 square meters for PwC. A new residential project of 50 units was also launched, with about half already sold.