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Portfolio occupancy improves by 1.7% compared to the first half of the year, driven by strong performance in the Shopping Centre and Office segments, with Rivas-Vaciamadrid as the main growth engine.
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The solid execution of its commercial plan is reflected in the signing of 135 new lease contracts during the period, covering a total area of 9,500 square metres.
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The SOCIMI records rental growth above inflation across all asset types, with a gross asset value (GAV) of €555 million.
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In addition, it consolidates a new financial structure with a loan-to-value (LTV) ratio of 33.4%.
Madrid, 1 December 2025 – SILICIUS Real Estate, a SOCIMI specialised in the long-term management of real estate assets with stable rental income, has presented its financial results for the first nine months of 2025. These results confirm the strength of the company and reflect the benefits of the new financial structure signed in April this year, supporting the development of its strategic plan to generate long-term value for shareholders.
During this period, SILICIUS recorded gross rental income of €20.5 million, representing an 8.3% like-for-like increase compared to the same period last year. Net rental income amounted to €16.5 million (+8.3%), confirming improved performance across the portfolio.
The company also reported a significant increase in operating profit (EBIT), which reached €7.6 million—up 139% year-on-year—driven by enhanced asset profitability and operational efficiency.
Across segments, all asset types reported like-for-like rental growth, averaging 8.2%, well above the annual inflation rate of 2.8% (as of end 2024). The residential segment posted the highest growth at 31.5%, followed by shopping centres (11.9%), offices (7.2%), hotels (3.6%), retail (4.8%), and logistics (2.8%). These results highlight the robustness of the group’s operational model and its ability to maximise asset profitability.
SILICIUS continued to strengthen its portfolio with a 1.7% increase in overall occupancy compared to the first half of 2025, bringing the total occupancy rate to 88%. This positive evolution includes the signing of 135 new lease agreements, covering over 9,500 square metres. The strongest performance was observed in the Shopping Centre and Office segments, especially the Rivas-Vaciamadrid asset. The weighted average lease term (WALT) remains stable at 4.5 years.
In April, SILICIUS signed a long-term financial restructuring agreement for a total amount of €163.3 million. This new financing allows the company to align the terms and conditions of its main funding sources, extend its debt maturity, and establish a more flexible and cost-efficient financial structure, enabling continued implementation of its growth and value creation strategy.
The SOCIMI’s portfolio is now valued at €555 million (GAV), with a loan-to-value (LTV) ratio of 33.4%, an average interest rate of 4.30%, and a debt maturity of 8 years. SILICIUS continues to reduce its financial commitments, reporting net debt of €185 million at the end of Q3 2025. EBITDA reached €11.7 million, with a net result of -€0.6 million (a 719% improvement year-on-year) and a positive funds from operations (FFO) of €2.3 million (+173% year-on-year).
As of the end of the period, SILICIUS holds a portfolio of 30 properties totalling 312,819 sqm, distributed as follows: 35% hotels, 26% shopping centres, 16% retail, 12% offices, 11% residential, and 1% logistics.
A noteworthy post-closing event was the approval by the General Shareholders’ Meeting of a capital reduction operation through the cancellation of shares held by Merlin Properties, which represented 17.91% of the share capital. The investment return will be made in kind at €11.91 per share, for a total amount of approximately €66.9 million, in line with the liquidity commitment made to shareholders.
