2025 Annual Results

A new cycle for Altarea
 
FFO⁽¹⁾ +13.9%, dividend at €8.00/share⁽²⁾
Confirmed recovery in Residential
Strategic milestones achieved in Data centers
Strong increase in FFO 2026⁽³⁾

“Altarea enters into a new cycle.

The past three years have been dedicated to an in-depth redesign of our Group’s core businesses. In Residential,  we extensively worked on customer satisfaction, product design, its quality and user value. We reviewed the commercial mix of our Retail assets and revisited our strategy in Business property. This collective effort has mobilized the whole company and is now starting to pay off, with FFO up +13.9% this year to €144.9 million.

In parallel, and despite the crisis, we invested in New businesses while sticking to our approach of mastering operational expertise. The first successes recorded this year validate this approach: photovoltaic infrastructure and real estate asset management have reached financial breakeven, and strategic milestones have been achieved in data centers.

Over the next two years, Altarea should enjoy strong growth in its core businesses, mostly driven by Residential and Retail in train stations. New businesses, particularly Data centers, should progressively take over as the driver of growth. Our objective is to reach a FFO of €300 million or above in the medium term, while maintaining a financial policy and liquidity level consistent with our investment-grade rating. To support this trajectory, a comprehensive employee share ownership plan is  implemented, targeting a 10% capital owned by employees in the long term.

I have strong confidence in Altarea’s prospects, its business plan, which relies on its exceptional human capital, being its most valuable asset.”

Alain Taravella, President and Founder of Altarea

[1]     FFO (Funds From Operations): net income excluding changes in value, calculated expenses, transaction costs, and changes in deferred tax. Group share.
[2]     Payment options (either 100% in cash or 25% in cash and 75% in shares) subject to the approval of the General Shareholders’ Meeting of 4 June 2026. AltaGroupe (family A. Taravella) and its affiliates and Crédit Agricole Assurances and its affiliates have undertaken to take the whole of the proposed dividend in shares. Together, these shareholders represent nearly 69% of Altarea’s share capital.
[3]     Subject to the political, geopolitical and economic environment.