Colonial SFL has concluded the first nine months of the financial year with a recurring net profit of 162 million euros, which represents an increase of 4% compared with the same period of the previous year, as detailed in a statement sent this Thursday to the Comisión Nacional del Mercado de Valores (CNMV).
The company has specified that total net profit reached 280 million euros, 4.4% below that recorded one year earlier, due to an extraordinary income recorded in 2025 linked to the allocation for tax adjustments arising from the merger with SFL.
Recurring rental income stood at 311 million euros, 5% higher than in the previous financial year, while recurring EBITDA rose to 259 million, representing an interannual increase of 6.1%.
The company has emphasized that it maintains a “solid financial position, supported by the strength of the balance sheet and disciplined financial management”, and has detailed that, at the end of the period, net debt was 4,907 million euros and liquidity was 2,275 million, sufficient to meet all debt maturities until 2029.
It has also pointed out that the divestment plan for an amount of 500 million euros continues on schedule and that, by the end of September, operations totaling 450 million had already been completed.
Results and commercial activity
The chief executive officer of Colonial SFL, Pere Viñolas, said at a meeting with journalists, in which the chairman, Juan José Brugera, and the corporate general director, Carmina Ganyet, also participated, that the evolution of the accounts has been “very satisfactory”.
Viñolas highlighted that, up to September, the company had signed contracts for almost 100,000 square meters, a figure that they consider appropriate for a full annual year.
The executive has emphasized the performance of the assets in Paris (France), where an interannual growth of 80% has been recorded, and has stated that the average occupancy of the group’s portfolio is 94%.
In addition, he has highlighted that the Madnum project, in Madrid, already reaches 97% occupancy, while the Haussmann project, in Paris, stands at 71%.
Viñolas added that in the third quarter there was a normalization of activity in Germany, after Colonial SFL entered the Berlin market, and recalled the launch of the first student residence of the joint project with Vita Group.
Brugera, for its part, has indicated that performance up to September "confirms the forecast for 2026" and has emphasized that the company's financial position is very solid.
Strategy in Germany
With regard to Germany, Viñolas has explained that the purpose of investments in this country coincides with that in Spain and France: focusing on 'prime' real estate in which they detect potential to generate value through property management.
However, he has pointed out that this is a different market, since there is not a single large city as in France, nor a main axis of two cities as in Spain, but "5 or 6 markets, all as important as Madrid and Brcelona".
As he has indicated, this setup means that rents are "more stable, spread out, and at more moderate levels" than in the French market.