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, receiving an unqualified audit opinion. The final figures largely confirmed the preliminary results, with Group earnings amounting to a positive EUR 2.3 million, compared to a loss of EUR -24.8 million in 2024. The company achieved EBIT of EUR 9.5 million, a significant improvement from the previous year's EUR -11.2 million.
The positive development is attributed to the successful financial reorganization and operational improvements. Income from property management increased to EUR 18.0 million from EUR 16.4 million in 2024, while the result from property management rose to EUR 11.6 million, up from EUR 7.3 million. A one-off effect from the termination of a larger lease agreement contributed to the result. Excluding this effect, Group earnings were EUR 0.7 million.
Cash and cash equivalents increased to EUR 4.7 million at year-end 2025, compared with EUR 2.3 million in the previous year. Equity amounted to EUR 83.7 million, slightly above the EUR 79.5 million recorded at the end of 2024, after accounting for the financial reorganization. The loan-to-value (LTV) ratio remained stable at 57.4%, reflecting financial stability.
Management highlighted the strategic importance of the results. Ralf Nocker, Member of the Management Board, stated that the company is now positioned to drive projects forward and take advantage of market opportunities. Christian Fendel, Director of Finance, noted that the LTV provides flexibility for further investments and that discussions are underway regarding loan extensions and new financing on sustainable terms.
The portfolio as of 31 December 2025 comprised 16 science parks valued at approximately EUR 215 million. ESPG AG continues to focus on developing its portfolio towards science parks and attracting tenants from research-driven industries such as life sciences, green technologies, and digital transformation. Key operational tasks ahead include reducing vacancies through additional lease agreements and implementing maintenance and modernization measures.
The audited 2025 consolidated financial statements are available for download on ESPG AG's website at https://espg.space/investor_relations/financial-statements/.
From ESPG AG's perspective, science parks in Germany remain an attractive market segment, supported by proximity to universities, hospitals, and research locations, as well as demand from innovation-driven sectors. The company sees further potential for targeted portfolio development going forward.
