Immorente: Significant Progress in Results for the First Half of 2025

Immorente has demonstrated solid indicators for the first half of 2025. Revenue increased by 8% compared to the same period in 2024, while collected rents surged by 10%. This performance is primarily attributed to the expansion of the asset portfolio and the leasing of new office spaces at the end of 2024. The occupancy rate stands at 95%, up from 91% a year earlier, reflecting a positive commercial dynamic. As of the end of June 2025, the social revenue amounts to 18 million MAD. Financial results show a Funds From Operations (FFO) of 23 million MAD, marking a 2% increase. The consolidated net income under IFRS is 21.7 million MAD, representing a significant 29% growth. However, the social net income reflects a loss of 4.5 million MAD as of June 30, 2025. In terms of financial structure, the Loan to Value ratio is at 26% as of June 30, 2025, indicating a controlled financial structure. The gross financial debt is 362 million MAD, with available cash of 29.4 million MAD. Looking ahead to 2025, Immorente maintains its annual guidance, expecting revenue growth between 8% and 10%, driven by portfolio expansion and the operationalization of assets marketed at the end of 2024. The anticipated FFO is projected at 5.3 MAD per share in 2025, corresponding to a yield of nearly 6%. The payment schedule for the 2024 dividend of 5.2 MAD per share has been confirmed: 1 MAD per share paid in April 2025, 2.2 MAD per share in June 2025, 1 MAD per share scheduled for October 2, 2025, and 1 MAD per share expected on December 19, 2025.