Result for the first half of 2025

• Revenues at EUR 97.4 million
• FFO after minorities at EUR 28.7 million
• Strong letting performance

Hamburg, August 4, 2025 — alstria office AG (“alstria”) announces its results for the first half of 2025, reporting on-plan revenues, improved leasing activities and successful liability management.

Key Highlights:

• Revenues: Revenues were on plan at EUR 97.4 million in the reporting period (H1 2024: EUR 98.6 million).
• Funds From Operations (FFO): FFO after minorities reached EUR 28.7 million and was down by 20.2% compared to the prior year period (EUR 36.0 million)*. This development is mainly driven by the expected increase in the cost of debt as the company refinances, and the corresponding impact on the net financial result.   
• Equity: alstria’s total equity increased by 2.2% to EUR 1,540.3 million (Dec. 31, 2024: EUR 1,506.9 million) due to the positive net result in H1 2025.
• Liability Management: During the reporting period, the company raised EUR 710 million of new financings. Proceeds from these new financings were used to buy back EUR 542.8 million of its outstanding bonds across the 2025, 2026, and 2027 maturities, and to redeem maturing mortgage debt (with EUR 107 million redeemed after the balance sheet date).
• Main credit KPI**: The Debt/(Debt+Equity) ratio on the company level at 60.9% and the Consolidated Coverage Ratio at 2.2x were stable compared to December 31, 2024. The Company’s Net LTV (Net financial debt/Total assets less cash) was 54.5% as of June 30, 2025 (54.8% as of December 31, 2024).
• Available liquidity: As of the reporting date, alstria’s cash and cash equivalents were EUR 153.5 million. In addition the company has access to additional liquidity of EUR 200 million under its undrawn RCF.

• Portfolio Value: The fair value of investment property as of June 30, 2025, was EUR 4,146.3 million and was slightly up by 0.5% compared to December 31, 2024, due to the company’s continued investment in its portfolio as part of its Capex Program. The portfolio value as of June 30, 2025 represents an average value per square meter of EUR 3,000 and a portfolio yield of 4.8% (based on the contractual rent/OMV of the portfolio). The EPRA vacancy rate remained stable at 8.5% compared to the prior quarter (Q1 2025: 8.6%).
• Strong letting performance: During the first six months of 2025, alstria significantly increased its letting performance to 116,200 sqm compared to 52,400 sqm in the prior year period. This includes new leases signed of 51,000 sqm (H1 2024: 32,000 sqm) and 65,200 sqm of lease extensions (H1 2024: 20,400 sqm).
• Selling the periphery: During the reporting period, alstria completed the disposal of two assets for a total consideration of EUR 16.5 million, including its last remaining property in Dortmund. This transaction marks alstria’s full exit from the Dortmund market. The disposals form part of the ongoing portfolio optimisation strategy initiated in early 2020, aimed at divesting peripheral assets and consolidating the portfolio around mature office markets.

About alstria
alstria office AG is the leading real-estate operator focusing solely on German office property in selected German markets. Our strategy is based on the ownership and an active management of our properties throughout their entire life cycle, strong added-value services to our customers and deep knowledge of the markets in which we operate. alstria strives for sustainable long-term value creation while taking advantage of short-term arbitrage of inefficiencies in the real estate markets. 

Disclaimer
This release constitutes neither an offer to sell nor a solicitation of an offer to buy any shares. As far as this press release contains forward-looking statements with respect to the business, financial condition and results of operations of alstria office AG (alstria), these statements are based on current expectations or beliefs of alstria’s management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment – especially in the core business segments and markets of alstria. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences.