NEPI Rockcastle has published its interim results for the six months ended 30^th June 2025, with a strong operating performance lifting the value of its investment property portfolio to +€8 billion – a record for the Fund.

The Company’s net operating income (NOI) increased by 12.1% to €307 million in H1 2025 (H1 2024: €274 million). On a like-for-like basis, NOI was 4.4% higher in H1 2025 compared to H1 2024, excluding the impact of acquisitions and disposals completed post-30 June 2024.

Its European Public Real Estate Association (EPRA) occupancy rate recorded 98.2% on 30^th of June 2025 with its collection rate for H1 2025 reporting revenue of over 99% by mid-August.

Distributable earnings per share (DEPS) of 31.05-Euro cents for the six months represented 3.1% growth relative to H1 2024 with its Board declaring a dividend of 27.95-Euro cents per share.

NEPI anticipates its DEPS for the year to be 2.5% to 3% higher than the DEPS of 60.17-Euro cents per share in 2024.

“Our loan-to-value (LTV) ratio is very conservative by industry standards at 32.1%, which allows NEPI Rockcastle to pay 90% of its earnings as dividends, a higher distribution rate than most of our peers,” says NEPI CEO, Rudiger Dany.

The Company has no significant debt maturities until October 2026.