- The company recorded gross rents of €7.1 million and net rents of €6.0 million in a quarter marked by the consolidation of its portfolio following the asset rotation carried out in 2025.
- FFO, funds from operations, increased by 39% to €2.8 million, while net profit reached €3.2 million, up 10.9%.
- Occupancy of the operating portfolio stood at 89.1%, following the signing of 33 new lease agreements covering more than 2,700 sqm of leased space, with a weighted WALB of 4.2 years.
Madrid, 1 June 2026 – SILICIUS Real Estate, a SOCIMI specializing in the long-term management of real estate assets with stable rental income, has presented its financial results for the first quarter of 2026, a period in which it recorded gross rents of €7.1 million and net rents of €6.0 million.
In a context marked by the asset rotation carried out in 2025, the company increased its comparable gross rents by 5.6% compared with the first quarter of the previous year, above December 2025 inflation, which stood at 2.9%. This performance reflects the resilience of the portfolio and its ability to continue generating recurring income, supported by new lettings, rent updates and the step-ups provided for in the contracts.
Comparable growth was positive across the main asset types. By segment, rents increased by 13.1% in offices, 5.9% in shopping centres, 5.9% in retail, 3.3% in hotels and 2.9% in logistics. This performance confirms the strong operating performance of the portfolio and the impact of active portfolio management.
During the quarter, SILICIUS signed 33 new lease agreements covering more than 2,700 sqm, with particularly strong activity in the shopping centre and office segments, especially at the Rivas asset. This performance raised occupancy of the operating portfolio to 89.1%, an improvement of 1.4 percentage points compared with year-end 2025. The weighted average lease term by rental income stood at 4.2 years.
The company also strengthened its cash generation during the period. FFO, funds from operations, reached €2.8 million, 39% more than in the first quarter of 2025, while net profit stood at €3.2 million, representing growth of 10.9%. This improvement reflects the positive impact of the new financial structure and the reduction in the cost of debt following the refinancing completed in 2025.
Accounting EBITDA reached €4.2 million, reflecting the reduction in the portfolio perimeter following the disposals carried out during the previous year. In this context, the improvement in FFO and net profit demonstrates SILICIUS’ ability to convert comparable operating growth into cash generation.
According to Juan Díaz de Bustamante, CEO of SILICIUS: “The first-quarter results confirm the strength of the model following the decisions adopted in 2025. We have started the year with a more focused and efficient portfolio, which continues to grow on a comparable basis despite the impact of the disposals carried out last year. The improvement in FFO and net profit also reflects the positive impact of the new financial structure and our ability to convert operating growth into cash generation. All of this reinforces our roadmap: active portfolio management, financial discipline and recurring value creation for our shareholders.”
This performance follows the asset rotation carried out during 2025, which included the disposal of the Barceló Nura Hotel in Menorca; the residential properties at Los Madrazo 6-10 and Plaza Mayor 6 in Madrid; and the 90% stake in Mazabi General Dávila, an office asset in Santander. These transactions reduced the scope of the portfolio, meaning that comparable growth provides a more accurate measure of the operating performance of the assets that remain in the portfolio.
Financial stability following portfolio optimization
At the end of the first quarter, SILICIUS maintained net financial debt of €158.9 million and an LTV ratio of 33.2%. The average cost of debt stood at 4.72%, with an average maturity of 7.8 years and 97.3% of the debt structured at a fixed rate.
This structure enables the company to maintain a stable financial profile and greater visibility over its cash generation, in line with its strategy of active asset management, financial discipline and value creation for its shareholders.
