PATRIZIA Nearly Doubles EBITDA in H1 2025, Affirms Full-Year Outlook

PATRIZIA SE reported a significant rise in EBITDA to EUR 29.1m in the first half of 2025, up from EUR 14.7m in H1 2024. This growth was driven by cost discipline and a resilient business model. Operating expenses fell to EUR 112.6m from EUR 135.1m in the previous year, while management fees slightly decreased to EUR 113.4m. This marked the first time in history that management fees exceeded operating costs, enhancing the quality of earnings.

Assets under management (AUM) totaled EUR 55.9bn, influenced by currency effects. Closed acquisitions climbed by 58.4%, led by infrastructure sector activities. Despite a dip in performance fees, net income improved significantly to EUR 4.7m, recovering from a loss of EUR 12.7m in H1 2024. The company maintains its full-year guidance, anticipating AUM between EUR 58.0bn and 62.0bn and EBITDA ranging from EUR 40.0m to 60.0m.