European Science Park Group (ESPG AG), a real estate company specializing in science parks, has published its consolidated financial statements for the 2025 financial year, confirming a clearly positive annual result. The final figures largely matched the preliminary results released on March 31, 2026, and received an unqualified audit opinion. The company reported income from property management of EUR 18.0 million, up from EUR 16.4 million in the previous year, and a result from property management of EUR 11.6 million compared to EUR 7.3 million in 2024.
Including a one-off effect from the termination of a larger lease agreement, ESPG AG achieved EBIT of EUR 9.5 million, a significant improvement from the negative EUR -11.2 million in 2024. Group earnings improved to EUR 2.3 million (EUR 0.7 million excluding the one-off effect), compared to a loss of EUR -24.8 million in the previous year. Equity stood at EUR 83.7 million as of the balance sheet date, slightly above the EUR 79.5 million recorded at the end of 2024, while cash and cash equivalents increased to EUR 4.7 million from EUR 2.3 million. These figures underline the company's improved financial starting position following its financial reorganization.
Ralf Nocker, Member of the Management Board of ESPG AG, stated: 'The published financial figures show that we were able to continue on the course we have pursued over the past two years and achieve a positive result. Following the financial reorganisation, we are now once again in a position to act from a solid foundation and drive our projects forward in a targeted manner.' He added that the company is well-positioned to initiate the next phase of development, including taking advantage of market opportunities and implementing portfolio measures, with one property already classified as held for sale.
The loan-to-value (LTV) ratio remained stable at 57.4%, compared to 58.6% in the previous year, indicating financial stability. Christian Fendel, Director of Finance of ESPG AG, noted: 'With an LTV of 57.4%, ESPG AG has a high degree of financial stability. This gives us flexibility for further investments in our science parks.' He mentioned ongoing discussions regarding the extension of existing loans and acquisition of additional financing on sustainable terms.
As of December 31, 2025, the portfolio comprised 16 science parks with a value of approximately EUR 215 million. ESPG AG continues its strategy of developing its real estate portfolio towards science parks and attracting tenants from research-driven industries such as life sciences, green technologies, and digital transformation. The company sees key operational tasks in reducing vacancies through new lease agreements and implementing maintenance and modernization measures across the portfolio.
The audited 2025 consolidated financial statements are available for download on ESPG AG’s website at https://espg.space/investor_relations/financial-statements/.
