- The new 75-room hotel is owned by SILICIUS and operated by B&B HOTELS under a long-term guaranteed lease agreement.
- With this addition, B&B HOTELS expands its network to 70 hotels in Spain and 89 properties across Spain and Portugal.
- The addition of a hotel to Thader Shopping Centre forms part of SILICIUS’ strategy to enhance the asset, broaden its commercial mix and strengthen its appeal through uses that complement its retail, leisure and food and beverage offering.
Madrid, 3 August 2026 – SILICIUS Real Estate, a Spanish REIT specialising in the long-term management of properties with stable rental income, closed the first half of 2026 with a net profit of €9.5 million, compared with a loss of €1.0 million during the same period of the previous year. This improvement reflects the progress made in operating activity, asset optimisation and the reduction in financing costs.
Like-for-like gross rental income increased by 5.2% compared with the first half of 2025, exceeding the December 2025 inflation rate of 2.9%. Growth was positive across all comparable asset categories and was supported by new lettings, rent reviews and contractual rent step-ups.
In absolute terms, gross rental income stood at €13.6 million, down 1.9% due to the change in the portfolio perimeter resulting from the disposals completed in 2025. Net rental income reached €11.0 million, representing an increase of 0.4%.
Greater profitability and cash-generation capacity
Reported EBITDA increased by 5.6% to €8.0 million. The EBITDA margin on net rental income improved by four percentage points to 72%, compared with 68% in the first half of 2025.
FFO, or funds from operations, reached €0.5 million, up 11%. These figures demonstrate the company’s increased ability to convert operating improvements into recurring earnings and cash flow.
“The first-half results confirm that optimising both the portfolio and the financial structure allows us to convert like-for-like operating growth into greater profitability. We have increased EBITDA, improved the margin and returned to profit, while maintaining a prudent level of leverage. This foundation strengthens our ability to create recurring value and deliver returns to shareholders,” said Juan Díaz de Bustamante, Managing Director of SILICIUS.
Strong leasing activity and improved occupancy
SILICIUS signed 52 new lease agreements during the first half of the year, covering an aggregate area of more than 4,670 sqm. Most of the activity was concentrated in shopping centres and offices, particularly at the Rivas asset.
As a result, average occupancy across the operating portfolio reached 89.1%, 1.4 percentage points above year-end 2025, excluding assets currently undergoing refurbishment. The weighted average lease term by rental income remained at 4.1 years.
By segment, offices led the growth in like-for-like gross rental income, with an increase of 27.9%, followed by shopping centres at 5.9%, hotels at 3.3%, logistics at 2.9% and retail at 2.7%.
This performance confirms the contribution of a diversified portfolio and the impact of active asset management.
Portfolio GAV reaches €499.5 million
As of 30 June, the portfolio’s gross asset value amounted to €499.5 million, compared with €494.2 million at year-end 2025.
The 1.1% increase was driven by investment of €4.4 million in the properties and a positive like-for-like valuation change of 0.2%. Average portfolio exit yields remained broadly stable. SILICIUS completed no disposals during the period.
Stable financial structure and shareholder remuneration
Net financial debt stood at €158.6 million, while net LTV remained stable at 33.1%.
The average financing cost decreased to 4.33%, compared with 4.68% at year-end 2025. A total of 97.3% of the debt is structured at fixed rates, and the average maturity stands at 7.8 years.
This structure provides visibility over the company’s cash flow profile and preserves its capacity to continue implementing its strategic plan with financial discipline.
Following the end of the reporting period, the company paid a gross dividend of €0.3286 per share on 22 July.
