European Science Park Group (ESPG AG), a real estate company specialising in science parks, has published its consolidated financial statements for the 2025 financial year, revealing a clearly positive annual result. The final figures largely confirmed the preliminary results, with Group earnings amounting to EUR 2.3 million, compared to a loss of EUR -24.8 million in the previous year. The 2025 consolidated financial statements received an unqualified audit opinion, underscoring the company's improved financial health.
The positive performance was driven by a significant increase in earnings power. Income from property management rose to EUR 18.0 million, up from EUR 16.4 million in 2024, while the result from property management improved to EUR 11.6 million from EUR 7.3 million. Notably, EBIT reached EUR 9.5 million, a stark contrast to the negative EUR -11.2 million reported in the prior year. This turnaround was partly attributable to a one-off effect from the termination of a larger lease agreement, which contributed positively to the result.
Ralf Nocker, Member of the Management Board of ESPG AG, 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.' The company also reported an equity of EUR 83.7 million as of the balance sheet date, slightly above the EUR 79.5 million recorded at the end of 2024. Cash and cash equivalents increased to EUR 4.7 million, compared with EUR 2.3 million in the previous year.
The loan-to-value (LTV) ratio remained stable at 57.4%, indicating financial stability. Christian Fendel, Director of Finance of ESPG AG, commented, '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 in order to continue developing our property portfolio in a targeted manner.' The company is in discussions regarding the extension of existing loans and the acquisition of additional loans on sustainable terms.
As of December 31, 2025, the portfolio comprised 16 science parks with a value of approximately EUR 215 million. ESPG AG continues its strategy of developing existing properties towards science parks and attracting tenants from research-driven future-oriented industries. The company sees key operational tasks in further reducing vacancies and implementing maintenance and modernisation measures. The audited 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, with proximity to universities, hospitals, and research locations, as well as demand from innovation-driven sectors such as life sciences, green technologies, and digital transformation, providing favourable conditions for development.
