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Premia R.E.I.C.
Earnings Release • Sep 26, 2025
2655_rns_2025-09-26_0075c065-ab20-459b-aa10-626681747b4f.pdf
Earnings Release
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Premia Α.Ε.Ε.Α.Π. Βασ. Σοφίας 59, Τ.Κ. 115 21 Αθήνα
Αρ. Αδείας Ε.Κ. 4/949/5.4.2022, Αρ. Γ.Ε.ΜΗ.: 861301000, www.premia.gr
ANNOUNCEMENT FINANCIAL RESULTS H1 2025
REVENUE GROWTH OF 86% & MORE THAN DOUBLING OF OPERATING PROFITABILITY
Athens, Greece – September 26, 2025 – PREMIA Properties ("PREMIA" or the "Company") announces the financial results for the period from January 1 to June 30, 2025.
- o 67 properties and 496 thousand sq.m. under management by the Group, with total investment value reaching €536.7 mn, up 8% compared to year-end 2024. Strong performance indicators, with the gross yield of income-producing properties at 7.2% and the weighted average unexpired lease term (WAULT) at 9.4 years as of June 30, 2025.
- o Continuation of the investment program and active portfolio management. During the first half of the year, PREMIA acquired the Semeli winery along with its vineyards, an office property in Thessaloniki leased to the Hellenic Cadastre S.A., as well as two additional commercial properties — one in Thessaloniki (office for renovation and lease) and one in Athens (commercial property leased to Spanos S.A.). In addition, as part of strengthening the Company's presence in the student housing sector, two buildings were acquired for conversion in Larissa and Xanthi. The Company also sold 3 properties (two plots of land and a residential property in Paros) generating a profit of €0.9 million. Furthermore, during Q3 2025, PREMIA completed significant transactions totaling €73 mn, acquiring a hotel complex in the Canary Islands, a school complex in Artemida, and a commercial property in Koropi.
- o Revenue increased by 86% and operating profitability (Adjusted EBITDA) rose by 109% on a consolidated basis compared to the corresponding period in 2024. Profit before tax was lower compared to the first half of 2024, due to reduced gains from the revaluation of investment properties at fair value.
o Solid financial structure, with the Group's Equity amounting to €203 million, net debt at €324 mn, and total Assets reaching €558 mn. In addition, in July 2025, the Company raised €40 mn through a share capital increase, further strengthening its capital structure.
o The Company's strong creditworthiness was confirmed for the 4th consecutive year by ICAP CRIF, which in September 2025 upgraded PREMIA's rating to AA (from A over the past three years), placing the Company in the category of very low credit risk.
SELECTED FIGURES FROM THE CONSOLIDATED STATEMENT OF TOTAL INCOME FOR H1 2025 (1.1 - 30.6.2025)
| 1.1 - 30.6.2025 |
1.1- 30.6.2024 |
|---|---|
| 17.9 | 9.7 |
| 15.1 | 22.4 |
| 4.0 | 17.0 |
| 11.2 | 5.4 |
| 10.2 | 19.1 |
| 4.1 | 1.4 |
1EBITDA excluding fair value adjustment of investment properties and non-recurring expenses 2 The relevant definitions are provided in financial report for the period 01.01-30.06.2025
SELECTED FIGURES FROM THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS OF 30.06.2025
| (Figures in € million) | 30.6.2025 | 31.12.2024 |
|---|---|---|
| Investment property and properties held for sale | 469.5 | 430.9 |
| Advances related to the acquisition and development of investment property |
2.7 | 4.2 |
| Financial assets at amortized cost (long & short-term) | 34 | 35.1 |
| Participations in joint ventures | 30.5 | 27.6 |
| Total investments | 536.7 | 497.8 |
| (Figures in € million) | 30.6.2025 | 31.12.2024 |
|---|---|---|
| Total Debt (long-term & short-term debt obligations and lease obligations of investment properties) |
336.2 | 310.3 |
| Total cash and cash equivalents 1 | 12.6 | 21.9 |
| Net Debt 2 | 323.6 | 288.4 |
| Total Equity | 203.1 | 198.1 |
| Capital structure 3 | ||
| Net Loan-to-Value (Net LTV) | 60.3% | 57.9% |
| Net Asset Value (NAV) 3 | ||
| Net Asset Value (NAV) | 202.6 | 197.9 |
| Number of shares | 94.4 mn. | 95.1 mn. |
| NAV / Share | 2.15 €/share | 2.08 €/share |
1 Cash and cash equivalents plus blocked deposits.
2 Total Debt minus cash and cash equivalents minus blocked deposits
3The relevant definitions are provided in financial report for the period 01.01-30.06.2025
PROSPECTS FOR H2 2025
The Group's key priority for the second half of 2025 remains the consistent and effective implementation of its business plan, aiming to add prime properties with superior yields, long-term contracts, and reliable tenants. The Company continues to focus on income-producing properties, while selectively considering participation in development or redevelopment projects in order to achieve enhanced returns and capital gains.
PREMIA focuses on sectors where it already has an established presence and where medium-term prospects remain positive, such as hotels, student housing, and logistics/industrial, while selectively exploring entry into other sectors expected to show demand and growth potential. At the same time, the Company places particular emphasis on the effective management of its debt obligations and the financing of the Group on competitive terms, leveraging all appropriate financing tools, including facilities under the Recovery and Resilience Fund. In all cases, Management continuously monitors and evaluates macroeconomic and financial developments, which remain fluid amid ongoing geopolitical uncertainty, and is prepared to make any necessary strategic adjustments as required.
PREMIA's total investment program for 2025 amounts to €180 mn, of which approximately €110 mn has been implemented to date, primarily strengthening the Company's presence in strategic sectors such as hotels and student housing. As reflected in the results for the first half of 2025, the Group has achieved a substantial improvement in financial performance, fully in line with its guidance for total consolidated revenues of €34–35 million and consolidated operating profitability (Adjusted EBITDA) of €22–23 million for 2025, which remains unchanged.
Finally, a particularly significant milestone for PREMIA was the successful completion of a €40 mn share capital increase in July 2025. Beyond raising the necessary funds to support the Group's continued growth, the transaction further strengthened the shareholder base with the participation of high-profile investors and expanded the free float, reaffirming the investment community's confidence in the Company and its strategic plan.
PREMIA Properties
PREMIA Properties is a Real Estate Investment Company – REIC (HCMC License No 4/949/5.4.2022). It was established in 1991 and since 2008 its shares are traded in ATHEX. For more information, please visit the Company's website www.premia.gr.
The financial report for the period 01.01-30.6.2025 is available on the Company's website www.premia.gr.