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Investing.com -- Student housing operator Xior on Thursday reported solid first-half 2025 results with 5.4% like-for-like rental growth and maintained its full-year earnings guidance.
The company posted a net rental result of €86.6 million in H1-2025, up 4% year-over-year, while maintaining an optimal occupancy rate of 98%. EPRA earnings reached €50.5 million, increasing 12.9% compared to the same period last year, partly due to lower financial expenses which fell 5%.
On a per-share basis, EPRA earnings were €1.10, representing a 2.7% decrease from the previous year due to a 16% increase in the weighted average number of shares.
Xior confirmed its 2025 EPRA earnings per share guidance of €2.21, based on like-for-like rental growth of at least 5%. The company also reaffirmed its planned gross dividend of €1.768.
The fair value of Xior’s property portfolio increased by 1.7% on a like-for-like basis year-to-date, bringing the total portfolio value to €3.47 billion, a 5% increase since the beginning of the year.
However, EPRA NTA per share declined to €38.74 in Q2-2025, down 2.6% year-over-year and 2.9% compared to December 2024.
The company successfully managed its leverage, with loan-to-value (LTV) ratio at 49.8%, below its 50% target and down 115 basis points from December 2024.
The interest coverage ratio improved to 2.92x from 2.67x at the end of 2024, while the average cost of debt decreased to 3.04% in H1-2025 from 3.14% in the same period last year.
In April, Xior completed the acquisition of two student residences in Poland for €67 million, with an average initial yield of 10.5%.
The company has secured €24.5 million in asset disposals so far in 2025 and maintains an active development pipeline of €214 million for 2025-2026, which will add approximately 1,500 units.
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