ADVERO Properties SOCIMI, S.A. Iradier, 21 - 08017 Barcelona. Tax ID Number A67077628. R.M. Barcelona, Volume 46146, Folio 129.
Barcelona, 27 October 2025
OTHER RELEVANT INFORMATION
ADVERO PROPERTIES SOCIMI, S.A. ("ADVERO" or "the Company"), in compliance with the provisions of article 17 of Regulation (EU) 596/2014 on market abuse and article 227 of Law 6/2023 of 17 March on Securities Markets and Investment Services, and related provisions, as well as BME MTF Equity Circular 03/2020, makes the following information available to the market, which has been prepared under the sole responsibility of the issuer and its directors:Results report for the first nine months of 2025.
Interim financial statements for the first half of 2025 and limited review report (in Spanish).
Yours sincerely,
Mr. Pablo Corbera Elizalde Representing RIUARAN, S.L.
Chairman of ADVERO PROPERTIES SOCIMI, S.
9 months 2025 Results
ADVERO INCREASES NET PROFIT BY 108% THROUGH CONTINUOUS OPERATIONAL AND FINANCIAL OPTIMIZATION, WHILE ITS SHARE PRICE RISES 13% IN THE FIRST NINE MONTHS OF THE YEAR
ADVERO Properties SOCIMI, S.A. Iradier, 21 - 08017 Barcelona. NIF A67077628. R.M. Barcelona, Tomo 46146, Folio 129, Hoja 510970
Revenue grew by 22% to €2.91 million in the first nine months of the year, and operating profit rose by 34%, driven by economies of scale and lower extraordinary expenses during the period.
The company's low debt level and the decline in interest rates served as an additional lever, allowing net profit to reach €0.48 million - 108% higher than at the end of September 2024.
ADVERO's share price appreciated by 13% during the period and by 28% since the capital increase completed in October 2024.
ADVERO has convened an extraordinary shareholders' meeting to be held on November 10 to request authorization for a capital increase aimed at funding its growth plan.
As of the date of this writing, ADVERO's portfolio consists of 29 buildings with a total of 475 homes, 253 parking spaces, 4 commercial premises, and additional storage units, distributed across Madrid, Malaga, Cordoba, and the metropolitan area of Barcelona.
Operating Results
The persistent imbalance between supply and demand in Spain's rental housing sector once again translated into strong occupancy for ADVERO's portfolio, with rates above 98% and defaults below 0.1% of total revenue.
ADVERO closed September 2025 with total gross income of €2.91 million, up 22% compared to the same period the previous year.
Continuous improvement in operational management, combined with the dilution of fixed costs across a broader revenue base, led to an operating profit of €0.71 million - 34% higher than in September 2024 - resulting in an operating margin of 24.5%.
The company continues to maintain a low leverage policy, with net financial debt of €6.49 million as of September 30, 2025 - representing 7.3% of the gross asset value of the portfolio at the end of 2024. Of this debt, 53% is financed at an average fixed rate of 1.9% with an average maturity in 2036. During the first nine months of 2025, the combined interest rate averaged 2.76%, compared to 3.4% at the end of September 2024, providing another growth lever for ADVERO.
All of the above enabled ADVERO to close September 2025 with a net profit of €0.48 million, 108% higher than the €0.23 million recorded for the same period in 2024, and an operating cash flow of €1.03 million (+53%), ensuring continued dividend distribution for another year.
Share Price Performance
At the end of the third quarter of 2025, ADVERO's shares were trading at €13.40, representing a 13% appreciation during the first nine months of the year and 28% since the capital increase completed in October 2024. This placed the company's market capitalization at €77.58 million.
Future Growth Plan
The imbalance between supply and demand in Spain's middle-income residential market lies at the heart of ADVERO's vision to continue expanding its presence in both existing and new locations across the country.
In line with this, ADVERO acquired a 10-unit residential building in Madrid's Tetuan district in mid-October and is working to complete additional acquisitions before the end of the year.
Since the start of its operations in February 2018, the company has financed its growth through a combination of capital increases and bank debt, the latter limited to a maximum of 30% of the portfolio's value.
In October 2024, ADVERO carried out a €16.5 million capital increase, which was mostly invested before year-end in new assets within its segment. The Board of Directors convened an extraordinary shareholders' meeting on October 10 to authorize a new capital increase, which the company will allocate to continue building a platform that generates value for both shareholders and the cities where it operates.
About ADVERO Properties SOCIMI, S.A.ADVERO Properties SOCIMI, S.A. is a Spanish publicly traded real estate investment trust established in August 2017 with the aim of facilitating the supply of quality middle-income rental housing in Spain. The company concentrates its investments exclusively in residential assets, located on the outskirts of large cities or middle-income neighbourhoods, with full ownership of the property to facilitate the creation of cohesive tenant communities.
About ADVERO's shares
Share Capital: 5,789,924 shares
Market Cap at 30/09/2025: €77.58 million Stock exchange: BME MTF Equity (Spain) Stock ticker: YADV
ISIN: ES0105448007
More information can be found on the "Investors" section of https://www.adveroproperties.com Contact
invesor.relations@adveroproperties.com
Tlf: +44 20 7399 9928
Annex 1 Financial Statements for the First Nine Months of 2025 and 2024 Income Statement(in thousand €) | 9M 2024 | 9M 2025 | Evol |
Income | 2,382 | 2,907 | 22% |
Rents | 2,247 | 2,780 | |
Other income | 135 | 127 | |
Operating expenses | -656 | -717 | 9% |
Ordinary expenses | -395 | -434 | |
% income | 16.6% | 14.9% | |
Extraordinary expenses | -261 | -237 | |
% income | 11.0% | 8.2% | |
Net operating income | 1,726 | 2,190 | 27% |
Operating margin | 72.5% | 75.3% | |
Corporate expenses | -750 | -969 | 29% |
% income | 31.5% | 33.3% | |
EBITDA | 976 | 1,220 | 25% |
EBITDA margin | 41.0% | 42.0% | |
Amortization | -445 | -553 | |
Operating profit | 531 | 667 | 26% |
% income | 22.3% | 22.9% | |
Financial result | -301 | -235 | |
Taxes Net profit | - 230 | - 432 | 88% |
Net margin | 9.7% | 14.9% | |
Cashflow | 675 | 985 | 46% |
% income | 28.3% | 33.9% |