European Science Park Group (ESPG AG) has published its audited consolidated financial statements for the 2025 financial year, confirming a clearly positive annual result. The company reported group earnings of EUR 2.3 million, a significant turnaround from the previous year's loss of EUR -24.8 million. The statements received an unqualified audit opinion, and the final figures largely matched the preliminary results released on 31 March 2026.
ESPG AG generated income from property management of EUR 18.0 million in 2025, up from EUR 16.4 million in 2024. The result from property management increased to EUR 11.6 million from EUR 7.3 million, reflecting improved operational efficiency. EBIT reached EUR 9.5 million, compared with a negative EUR -11.2 million in the prior year, boosted by a one-off effect from the termination of a larger lease agreement. Excluding this effect, group earnings stood at EUR 0.7 million.
Ralf Nocker, Member of the Management Board, 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."
Equity increased to EUR 83.7 million as of 31 December 2025, slightly above the EUR 79.5 million recorded at the end of 2024, reflecting the financial reorganization. Cash and cash equivalents doubled to EUR 4.7 million from EUR 2.3 million. The loan-to-value (LTV) ratio remained stable at 57.4%, compared with 58.6% in the prior year, underscoring financial stability.
Christian Fendel, Director of Finance, 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. At the same time, we are in discussions regarding the extension of existing loans and the acquisition of additional loans on sustainable terms."
As of 31 December 2025, the portfolio comprised 16 science parks valued at approximately EUR 215 million. The company continues its strategy of developing real estate towards science parks, targeting tenants from research-driven industries such as life sciences, green technologies, and digital transformation. One property has already been classified as held for sale as part of selected portfolio measures.
Key operational tasks for the coming months include reducing vacancies through new lease agreements and executing maintenance and modernization projects across the portfolio. The audited consolidated financial statements are available for download on ESPG AG's website at https://espg.space/investor_relations/financial-statements/.
