It is important to note that the fair value of the real estate portfolio of the REIC reached €285 million for the fiscal year 2024, compared to €149 million in 2023, reflecting a remarkable 91% increase.
The proposed dividend translates into a dividend yield of 5.4%, based on the last closing price of the share (March 31, 2025: €2.52).
Additionally, the Board of Directors has decided to propose to the Annual General Meeting of Shareholders, scheduled for Tuesday, April 29, 2025, the establishment of a Dividend Reinvestment Program (Scrip Dividend Program) for a four-year period (2025-2028), with a total capital increase of up to €30 million.
The details of the proposed dividend reinvestment program, which will be communicated to shareholders through the invitation to the Annual General Meeting, offer flexibility to shareholders, allowing them to choose between receiving the full dividend in cash, reinvesting it into the Company, or opting for a combination of both options.
Furthermore, this program will enable the Company to leverage its available cash reserves to reduce its debt obligations and fund new investments that will benefit its shareholders.
PROSPECTS FOR 2025
Following the completion of the merger through the absorption of ICI, the Company expects to achieve higher revenues and improved profit margins for the fiscal year 2025.
As of the end of 2024, annualized rental income reached approximately €21 million, and the Company estimates that Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for 2025 will increase by approximately 30% compared to 2024.
The Company’s main priority for 2025 will be to optimize its portfolio through new acquisitions and the sale of properties that do not align with its investment policy. In addition, the Company will continue its investment program while progressively implementing energy upgrades to its portfolio.
