Business
Covivio : 2025 Universal Registration Document
Covivio : 2025 Universal Registration
About this update from Covivio Sa
UNIVERSAL REGISTRATION DOCUMENT 2 0 2 5 E D I T IO N 1 2 3 4 5 6 7 Contents ACTIVITY IN 2025 9 2025 Annual results: Strong growth in recurring earnings 10 Business analysis 19 Business analysis by segment 27 Financial information and comments 41 Financial resources 50 EPRA reporting 55 Real estate appraisals 64 Portfolio list 68 RISKS AND UNCERTAINTIES 75 Risk factors 76 Internal control, risk management and compliance policies 95 Trends and outlook for 2026 101 SUSTAINABILITY REPORT 103 Introduction 104 Environmental information 139 Social information 217 Business conduct information 271 CSR performance 281 Audit of non-financial information 290 FINANCIAL INFORMATION 295 Consolidated financial statements at 31 December 2025 297 Notes to the consolidated financial statements 303 Statutory report on the consolidated financial statements 361 Individual financial statements at 31 December 2025 366 Notes to the individual financial statements 370 Statutory report on the annual financial statements 410 Extract from the profit and loss account and balance sheet for the fiscal year ended 31 December 2025 415 GENERAL MEETING AND CORPORATE GOVERNANCE 441 Agenda and text of draft resolutions for the Combined General Meeting of 16 April 2026 442 Report of the Board of Directors on the text of the draft resolutions presented to the Combined General Meeting of 16 April 2026 456 Report from the Board of Directors on corporate governance 464 Statutory Auditors' special report on related-party agreements and regulated commitments 548 Report of the Statutory Auditors on the share capital reduction 553 Statutory Auditors' report on the issue of shares and/or other securities with or without a waiver of preferential subscription rights 554 Statutory Auditors' report on the issue of shares and/or other securities reserved for the benefit of subscribers to a corporate savings plan 556 INFORMATION AND MANAGEMENT 559 Company overview 560 General information about the issuer and its share capital 563 Shareholder structure 569 Stock market ‒ Dividend 574 Administration and management 576 Information about the company and its investments 579 Significant agreements 581 Parties responsible for auditing the financial statements 582 Persons responsible for overseeing sustainability information 582 Person responsible for the Universal Registration Document 583 CONCORDANCE TABLES 585 Co...