LEG Immobilien SE Financial Results H1 2025 | Strong AFFO Growth and Stable Operations

LEG Immobilien SE: H1 2025 Financial Performance HighlightsPresented by Frank Kopfinger, Head of Investor RelationsIn his H1 2025 presentation on seat11a.com, Frank Kopfinger outlines a solid half-year performance for the group, emphasising double-digit AFFO growth, high occupancy, and strategic progress in sustainability and capital structure. Despite persistent macroeconomic challenges, LEG remains one of Germany’s most reliable and resilient residential real estate platforms.Financial Highlights H1 2025 (vs. H1 2024): Rental Income: €579.5m vs. €568.0m (+2.0%) Net Cold Rent: €549.0m vs. €537.7m (+2.1%) Funds from Operations (FFO I): €202.7m vs. €202.0m (+0.3%) Adjusted FFO (AFFO): €143.8m vs. €130.1m (+10.5%) AFFO per share: €2.13 vs. €1.93 (+10.4%) Loan-to-Value (LTV): 43.5% vs. 44.3% (Improved) Occupancy Rate: 99.0% (Stable)Key Takeaways: AFFO growth of 10.5% YoY reflects high rental stability and disciplined cost control Net cold rent increase supported by modernisations, indexation, and robust occupancy Maintenance and operating costs well managed, contributing to stable margins CapEx focus remains disciplined, with selective, ESG-aligned modernisation Dividend payout ratio tied to AFFO for long-term investor confidencePortfolio Performance: ~167,000 residential units focused on affordable housing in German urban and suburban areas Like-for-like rent growth of 3.1% despite regulatory headwinds Re-letting rent growth of 4.5% in dynamic locations Strong demand and low supply in core marketsESG & Sustainability Strategy: Modernisation rate at 2.6% of portfolio (targeted, cost-effective upgrades) Focus on climate-efficient buildings and tenant-centred refurbishment CO₂ intensity reduction remains a strategic priority Strategy supports tenant loyalty, compliance, and long-term valuationBalance Sheet & Capital Structure: LTV improved to 43.5%, enhancing financial flexibility Average debt maturity extended to 8.6 years, average interest cost 1.57% No major refinancing needs until 2026 Continued moderate deleveraging via retained earnings and disciplined cash flowFull-Year 2025 Guidance (Confirmed): AFFO: €265–280 million AFFO per share: €3.90–4.10 Dividend: Based on 100% AFFO payout Continued CapEx discipline and operating stabilityFinal Outlook from Frank Kopfinger:“We continue to deliver on what LEG is known for: stable, predictable results, responsible capital management, and value creation for all stakeholders. Our strong operational base gives us the flexibility to grow responsibly in a changing environment.”▶️ Other videos: Elevator Pitch: https://seat11a.com/investor-relations-elevator-pitch/ Company Presentation: https://seat11a.com/investor-relations-company-presentation/ Deep Dive Presentation: https://seat11a.com/investor-relations-deep-dive/ Financial Results Presentation: https://seat11a.com/investor-relations-financial-results/ ESG Presentation: https://seat11a.com/investor-relations-esg/ T&C This publication is intended solely for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions as outlined on www.seat11a.com/legal and www.seat11a.com/imprint.