European Science Park Group (ESPG AG), a real estate company specialising in science parks, has published its consolidated financial statements for the 2025 financial year, confirming a clearly positive annual result. The final audited figures, which received an unqualified audit opinion, largely confirmed the preliminary results released on 31 March 2026.
The company reported a strongly positive EBIT of EUR 9.5 million, a significant improvement from the EUR -11.2 million loss in 2024. Group earnings reached EUR 2.3 million, compared to a loss of EUR -24.8 million in the previous year. This turnaround is attributed to the successful completion of a financial reorganisation and strategic portfolio measures.
Income from property management rose to EUR 18.0 million in 2025, up from EUR 16.4 million in 2024, while the result from property management increased to EUR 11.6 million from EUR 7.3 million. The earnings improvement included a one-off effect from the termination of a larger lease agreement. Excluding this effect, group earnings were EUR 0.7 million.
“The published financial figures show that we were able to continue on the course we have pursued over the past two years and achieve a positive result. Following the financial reorganisation, we are now once again in a position to act from a solid foundation and drive our projects forward in a targeted manner,” said Ralf Nocker, Member of the Management Board of ESPG AG.
Key financial metrics also improved. Equity stood at EUR 83.7 million as of 31 December 2025, slightly up from EUR 79.5 million at the end of 2024, reflecting the financial reorganisation. Cash and cash equivalents increased to EUR 4.7 million from EUR 2.3 million in the prior year. The loan-to-value (LTV) ratio remained stable at 57.4%, compared to 58.6% in 2024, indicating a high degree of financial stability.
“With an LTV of 57.4%, ESPG AG has a high degree of financial stability. This gives us flexibility for further investments in our science parks in order to continue developing our property portfolio in a targeted manner,” said Christian Fendel, Director of Finance of ESPG AG.
The portfolio as of 31 December 2025 comprised 16 science parks valued at approximately EUR 215 million. ESPG AG continues its strategy of developing properties for research-driven tenants in future-oriented industries such as life sciences, green technologies, and digital transformation. The company has classified one of its properties as held for sale as part of selected portfolio measures.
Looking ahead, the company sees key operational tasks in reducing vacancies through new lease agreements and implementing maintenance and modernisation measures. The science park market in Germany remains attractive due to proximity to universities, hospitals, and research institutions, as well as demand from innovation-driven sectors. ESPG AG also sees potential for further portfolio development.
The audited 2025 consolidated financial statements are available for download on ESPG AG’s website at https://espg.space/investor_relations/financial-statements/.
