European Science Park Group (ESPG AG) achieved a positive Group Earnings of EUR 0.5 million in 2025, returning to profitability for the first time since 2022. The company, which specializes in science parks, reported stable Gross Rental Income of EUR 15.9 million, slightly down from EUR 16.4 million in the previous year. The improvement in earnings was primarily driven by significantly reduced financing costs, compared to a loss of EUR -24.8 million in 2024.
Ralf Nocker, Member of the Management Board of ESPG AG, stated: "After two challenging years, we have achieved a financial turnaround. Both the significant relief on the interest side and the stable operational performance have contributed to ESPG not only reaching break-even in the first half of 2025 but also reporting a balanced Group result for the full year 2025." The company's equity increased to EUR 83.1 million as of December 31, 2025, up from EUR 79.5 million, representing a 4.6% rise. The loan-to-value ratio (LTV) stood at 58.3%, slightly higher than the previous year's 57.3%, reflecting a solid financial structure.
The real estate portfolio value remained virtually unchanged at EUR 214.5 million, underscoring its stability in value despite a volatile market environment. This stability is attributed to the quality of locations within established science clusters and a focus on tenants from technology and research-oriented sectors. The reported figures exclude significant one-off effects, including a EUR 2.8 million penalty payment from a tenant and restructuring expenses of approximately EUR 0.9 million. Comparative 2024 figures are presented on a pro forma basis, including restructuring effects. All figures are preliminary, with audit certification expected in the third quarter of 2026.
For 2026, ESPG expects solid operational performance amid continued market challenges. Tenant departures in the fourth quarter of 2025 will lead to increased investment requirements, but the company has made good progress in pre-letting vacant space. New lease agreements have been concluded with companies such as Silicon Labs and Helmsauer, and additional space has been let in Science Park Ulm. The 2024 financial report is available on the company's website at https://espg.space/investor_relations/financial-statements/.
ESPG considers itself well positioned to drive the next phase of portfolio development and value enhancement, expecting further lease agreements covering several thousand square meters in the near future. The company's portfolio comprises 16 science parks across Europe with a total area of 126,000 square meters, typically situated outside metropolitan areas in recognized science clusters.
