Branicks Group AG: Steadily on track, structures simplified

Branicks Group AG: Steadily on track, structures simplified  

• High continuity in the rental business
• Repayment of all promissory note loans due in 2025 and redemption of the loan from VIB Vermögen
• Simplified structures following consolidation of institutional business

Frankfurt, 6 November 2025 – Branicks Group AG (Branicks), ISIN: DE000A1X3XX4, remains on track in terms of its operations and financial consolidation after nine months of the 2025 financial year. Rental performance increased by 18% year-on-year to 256,500 square metres, with the average rent per square metre in the Group’s own portfolio rising to €10.34. Further sales were completed in a transaction market that remained subdued due to ongoing high geopolitical uncertainty. 

Group-wide structures were streamlined by consolidating business with institutional investors at VIB Vermögen AG (VIB). In addition, Branicks and VIB announced at the end of October that they would initiate a process to conclude a control and profit transfer agreement between Branicks and VIB as the controlled company. Branicks is thus continuing the integration of VIB into the Group. The aim is to achieve a lean organisational structure with short decision-making paths and greater cost efficiency across the entire Branicks Group.

With the repayment of promissory note loans amounting to €68 million at the end of July, Branicks has repaid all promissory note loans due in 2025 amounting to €293 million. As part of the bundling of business with institutional investors at VIB, the loan of around €300 million granted by VIB to Branicks on 7 July 2023 was also redeemed. Funds from operations (FFO) after minority interests amounted to €33.4 million after nine months, which is fully in line with the forecast FFO result of €40-55 million. Due to one-off effects from transaction-related write-downs, consolidated net income after nine months was slightly below the previous year at -€160.5 million (9M 2024:
-€153.2 million).

Sonja Wärntges, CEO of Branicks Group AG, comments: “In the first nine months of the 2025 financial year, we are consistently on track with our financial strategy and the streamlining and strengthening of our group structures. In operational terms, too, we are demonstrating operational strength and high reliability quarter after quarter with our renewed improvement in the letting business and the development of our FFO. In a tight transaction market, we have completed further transactions from previous quarters and have a well-filled pipeline for the seasonally transaction-intensive fourth quarter.”

Milestones as at 30 September 2025

Assets under management, defined as the sum of the existing portfolio and assets managed by the Branicks Group as part of its institutional business, amounted to €10.7 billion as at 30 September 2025 (30 September 2024: €12.1 billion). In a transaction market that continues to recover only hesitantly, Branicks Group was able to close eight sales from its commercial portfolio by the end of September as an active market participant. After nine months of the 2025 financial year, the company generated FFO I (after minority interests, before taxes) of €33.4 million (9M 2024: €36.1 million).

Letting performance – like-for-like rental growth

In the two major asset classes of logistics and office, the letting business developed successfully in the first nine months of 2025 with dynamic letting performance. Total letting performance in the reporting period amounted to 256,500 sqm (9M 2024: 218,000 sqm), of which 113,900 sqm was attributable to new lettings and 142,600 sqm to the renewal of existing contracts. The letting performance of 256,500 sqm corresponds to an annualised rent of €38.2 million. Annualised rental income increased by 0.3% like-for-like across the entire portfolio as of 30 September 2025 (30 September 2024: +2.0%), by 1.0% in the commercial portfolio and by 0.1% in the institutional business.

Significant improvement in net interest income, further reduction in OPEX

Net interest income improved by more than 40% to €47.5 million in the first nine months of 2025 (9M 2024: €84.1 million). Thanks to consistent cost management, the Group’s operating costs for the first nine months of 2025 were around 6% lower than in the previous year at €45.7 million (9M 2024: €48.5 million). 

Commercial portfolio

The market value of the commercial portfolio was approximately €2.3 billion as at 30 September 2025 (30 September 2024: €3.2 billion). Gross rental income from the commercial portfolio declined to EUR 106.8 million as at 30 September 2025 (9M 2024: EUR 129.7 million) due to sales. Net rental income amounted to €96.3 million as of 30 September 2025 (9M 2024: €112.9 million). The EPRA vacancy rate as at 30 September 2025 was 9.8% (30 September 2024: 7.0%) due to sales-related factors. The green building ratio in the commercial portfolio was 50.1% as at the reporting date.

Institutional Business

Die Assets under Management im Institutional Business lagen zum Stichtag 30.09.2025 bei 8,4 Mrd. Euro (9M 2024: 8,9 Mrd. Euro).

Balance sheet and real estate assets

At the end of September, Branicks Group AG’s real estate assets had a book value of €2,223.9 million in the commercial portfolio (31 December 2024: €2,663.6 million). The loan-to-value ratio (LTV) decreased to 60.1% (31 December 2024: 61.0%). The net asset value (NAV) was €781.5 million (31 December 2024: €857.9 million) or €9.35 per share (31 December 2024: €10.27 per share). Adjusted net asset value (adjusted NAV), adjusted for the full value of the Institutional Business division, amounted to €972.5 million or €11.64 per share as of the reporting date (31 December 2024: €1,048.9 million or €12.55 per share).

Forecast for 2025

April 2025 forecast for the 2025 financial year remains unchanged except for the adjustment of income from property management to €45-55 million (previously: €50-60 million).

Focus on returning to positive net income and consolidation

Branicks is consistently driving forward its transformation into a profitable, value-adding asset expert. The strategic focus is on further reducing debt as planned and continuously lowering the LTV. Branicks plans to return to net profit by the end of 2026 in a recovering transaction market.

Invitation to conference call on 6 November 2025

The Management Board of Branicks Group AG invites you to attend the presentation of the results for the third quarter of 2025 today, 6 November 2025, at 10:00 a.m. CET.

To participate in the conference call, please register at: https://webcast.meetyoo.de/reg/b8kyl1fXSoYt

The webcast (including replay) can be accessed at the following link: https://www.webcast-eqs.com/branicks-2025-q3

About Branicks Group AG:
Branicks Group AG (formerly DIC Asset AG) is a leading German listed specialist for office and logistics real estate as well as renewable assets with over 25 years of experience in the real estate market and access to a broad investor network. Our basis is the national and regional real estate platform with nine offices in the ground in all major German markets (including VIB Vermögen AG). As of September 30, 2025, we managed properties with a market value of EUR 10,7 billion in the Commercial Portfolio and Institutional Business segments.

The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate cash flows from stable rent revenues on long-term leases while also optimizing the value of our portfolio assets through active management and realizing gains from sales.

In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.

The shares of Branicks Group AG are listed in the Prime Standard of the German Stock Exchange (WKN: A1X3XX / ISIN: DE000A1X3XX4).

The company is fully committed to sustainability and occupies top positions in ESG-relevant ratings such as Morningstar Sustainalytics and S&P Global CSA. The Branicks Group is also a signatory to the UN Global Compact and the UN PRI network. Properties in the Branicks portfolio have been awarded renowned sustainability certificates such as DGNB, LEED or BREEAM.

For more details, go to www.branicks.com

PR Contact Branicks Group AG:

Stephan Heimbach

Neue Mainzer Strasse 32-36

D-60311 Frankfurt am Main

Phone +49 69 9454858-1569

pr@branicks.com

IR Contact Branicks Group AG:

Jasmin Dentz

Neue Mainzer Strasse 32-36

D-60311 Frankfurt am Main

Phone +49 69 9454858-1492 

ir@branicks.com

The Branicks Group AG at a glance

¹ Figures per share (number of shares 9M 2025: 83,565,510 / 9M 2024: 83,565,510)
² Adjusted for warehousing

³ Figures per share (number of shares 30.09.2025: 83,565,510 / 31.12.2024: 83,565,510)

⁴ incl. full value of the in Institutional Business