EQS-News: Adler Group S.A. announces results for 9M 2025 demonstrating strong performance in the rental business and progress with development disposals
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EQS-News: Adler Group S.A.
/ Key word(s): Quarter Results
Adler Group S.A. announces results for 9M 2025 demonstrating strong performance in the rental business and progress with development disposals
Project developments – progress with disposals In order to fully concentrate on the rental portfolio in Berlin, it remains the key priority to dispose of all upfront sale development projects and to complete and hand over the few remaining forward sale projects, both until the end of 2026. The disposals of the projects ‘Cologneo III’ in Cologne and ‘The Wilhelm’ in Berlin were signed and completed in Q3 2025. Post the Q3 balance sheet date, the disposals of ‘Holsten Quartier’ in Hamburg, ‘Benrather Gärten’ in Düsseldorf and ‘Quartier Kaiserlei’ in Offenbach were successfully notarised. Closing of these transactions is expected to occur within the next months. All net proceeds from these project development disposals will serve to further reduce leverage via partial redemptions of the 1L Ney Money Facility. Rental business – strong portfolio performance in Q3 2025 Post the successful disposals of Adler’s majority stake in Brack Capital Properties N.V. (BCP) and the North Rhine-Westphalia (NRW) portfolio, both completed in early 2025, the company’s focus lies on the residential rental portfolio in Berlin, an attractive market with strong fundamentals and substantial embedded potential. Considering the impact of these two portfolio disposals, net rental income decreased from €155m in the previous year to €101m in 9M 2025. The decrease was partly compensated by rent increases realised on the remaining assets. Adler Group confirms its 2025 net rental income guidance in the range of €127-135m. As per 30 September 2025, the rental portfolio amounts to 17,695 units, of which 17,578 units are located in the Berlin area. The rental portfolio value amounts to €3.5bn. The average residential rent increased significantly from €7.71/sqm/month as per September 2024 to €8.52/sqm/month as per September 2025, largely driven by the overall quality improvement of the portfolio following the disposal of the NRW portfolio. The like-for-like rental growth amounted to 3.2%, in line with expectations. The operational vacancy rate remained at a very low level of 1.6%. Financial performance – lower rental income and earnings as a result of a smaller portfolio The income from operating activities amounted to minus €238m in 9M 2025 (previous year: minus €348m) as it was negatively affected by the result from the project development business including development asset revaluation across the 9M 2025 period. The Adjusted EBITDA from rental activities amounted to €58m, down from €86m in the previous year as a result of the BCP and NRW portfolio sales. The net result of minus €496m (previous year: plus €1,451m) was negatively impacted by interest expenses and one-off effects such as the refinancing of the 1L and 1.5L facilities in early 2025. The prior year’s net result was significantly impacted by the company‘s recapitalisation with the conversion of certain financial instruments into equity concluded in September 2024, which resulted in a positive extraordinary net finance income of c. €1.8bn. Capital structure – sound basis following recent measures The company does not face any material maturities of capital market indebtedness before the end of 2028 with 97% of the total financial debt maturing in 2028 or beyond. The company’s loan-to-value (LTV) stood at 73.5% as per September 2025. At the end of Q3 2025, Adler Group had cash and cash equivalents of €241m. For definitions of the Alternative Performance Measures please see the relevant section on the pages 12-13 and 15-18 of the financial statements for 9M 2025 which are available on the Company's website: https://www.adler-group.com/en/investors/publications/financial-results Webcast A webcast for analysts and investors will be held today, 27 November 2025, at 10:00am CET / 09:00am GMT. The webcast is available at the following link:
27.11.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| Language: | English |
| Company: | Adler Group S.A. |
| 55 Allée Scheffer | |
| 2520 Luxembourg | |
| Luxemburg | |
| Phone: | +352 278 456 710 |
| Fax: | +352 203 015 00 |
| E-mail: | investorrelations@adler-group.com |
| Internet: | www.adler-group.com |
| ISIN: | LU1250154413 |
| WKN: | A14U78 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange |
| EQS News ID: | 2236436 |
| End of News | EQS News Service |
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2236436 27.11.2025 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025e | ||
| Sales1 | 156,52 | 758,74 | 1.143,73 | 734,47 | 445,08 | 392,19 | 0,00 | |
| EBITDA1,2 | 93,81 | 555,58 | 208,25 | 95,08 | 20,63 | 80,99 | 0,00 | |
| EBITDA-Margin3 | 59,94 | 73,22 | 18,21 | 12,95 | 4,64 | 20,65 | 0,00 | |
| EBIT1,4 | 613,92 | 544,28 | -640,97 | -1.272,05 | -1.463,99 | -880,81 | 0,00 | |
| EBIT-Margin5 | 392,23 | 71,74 | -56,04 | -173,19 | -328,93 | -224,59 | 0,00 | |
| Net Profit (Loss)1 | 606,92 | 229,46 | -1.165,01 | -1.674,85 | -1.809,83 | 789,97 | 0,00 | |
| Net-Margin6 | 387,76 | 30,24 | -101,86 | -228,04 | -406,63 | 201,43 | 0,00 | |
| Cashflow1,7 | 88,76 | 120,30 | -276,24 | -138,22 | -123,56 | -168,51 | 0,00 | |
| Earnings per share8 | 12,74 | 1,99 | -10,03 | -13,21 | -11,75 | 0,00 | -3,40 | |
| Dividend per share8 | 0,75 | 0,46 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: AVEGA Revision
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Adler Group | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A14U78 | LU1250154413 | SA | 31,08 Mio € | 23.07.2015 | Verkaufen | 8FX8J49G+G5 |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| -5,13 | 6,12 | -0,84 | -2,56 | 0,04 | -0,18 | 0,08 |
|
Dividend '2023 in € |
Dividend '2024 in € |
Dividend '2025e in € |
Div.-Yield '2025e in % |
| 0,00 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 25.06.2025 | 27.05.2025 | 28.08.2025 | 27.11.2025 | 29.04.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| +0,84% | -8,52% | -41,00% | -41,69% | -99,00% |
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