European Science Park Group (ESPG AG), a real estate company specializing in science parks, reported positive Group Earnings of EUR 0.5 million for the 2025 financial year, marking a return to profitability for the first time since 2022. The company also reported stable Gross Rental Income of EUR 15.9 million and a strengthened balance sheet, with equity rising to EUR 83.1 million and a loan-to-value ratio (LTV) of 58.3%.
Ralf Nocker, Member of the Management Board of ESPG AG, said: 'After two challenging years, we have achieved a financial turnaround. Both the significant relief on the interest side and the stable operational performance have contributed to ESPG not only reaching break-even in the first half of 2025 but also reporting a balanced Group result for the full year 2025.' The company's science park portfolio remained stable in value at EUR 214.5 million, reflecting the resilience of its focus on technology and research-oriented tenants in established science clusters.
The improvement in earnings was driven by significantly reduced financing costs, with Group Earnings improving to EUR 0.5 million from EUR -24.8 million in the previous year. Adjusted Gross Rental Income was EUR 15.9 million, compared to EUR 16.4 million in 2024, indicating overall stable operational performance. The company noted that the reported figures exclude significant one-off effects, including a EUR 2.8 million penalty payment from a tenant and restructuring expenses of approximately EUR 0.9 million. Comparative figures for 2024 are presented on a pro forma basis and include effects from restructuring measures.
For 2026, ESPG expects solid operational performance in a continued challenging market environment. Tenant departures in the fourth quarter of 2025 will lead to increased investment requirements, but the company has made good progress in pre-letting vacant space. New lease agreements have been concluded with companies such as Silicon Labs and Helmsauer, and additional space has been let in Science Park Ulm. ESPG expects further lease agreements covering several thousand square meters in the near future.
The company’s 2024 financial report is available on its website. All figures for 2025 are preliminary, with audit certification expected in the third quarter of 2026.
