Castellana Properties announced a record net profit of 61.8 million euros in the first half of its fiscal year (1 April–30 September 2025), an increase of 87.3% year-on-year.
In a statement, the listed company, specialized in the acquisition and management of shopping centers and parks, states that Net Operating Income (NOI) stood at 56.9 million euros, with a comparable increase of 8.7%, while EBITDA grew 83.9% to 49.8 million euros. Gross Rental Income (GRI) was 63.2 million euros, with growth of 8.2%.
The gross asset value (GAV) increased to 1,772 million euros, rising 6.7% in the six months and 2.3% compared to March 2025. The portfolio was reinforced by the acquisition, in April, of Forum Madeira — the company’s fifth asset in Portugal.
In Portugal, visits to Castellana centers rose 2.7% between April and September, with sales growing 4%. 44 contracts were signed in Portuguese centers (18 new), representing 2.1 million euros in rent and an average improvement of 9.55% compared to the previous rent. Occupancy levels in centers in Portugal are 98.9% (98.7% in the total portfolio) and the rent collection rate is 95.3% (98% in the global portfolio).
At an aggregate level, portfolio traffic increased by 3.5% until September and sales grew by 4.2%, supported by 196 lease contracts (84 renewals and 112 new contracts) generating rents of 13.1 million euros and an average improvement of 7.5% compared to previous rents. The categories with the greatest dynamism were Culture, Media & Technology, Home, Leisure & Entertainment, Food & Beverage and Fashion.
Alfonso Brunet, CEO of Castellana Properties, states in a statement that “Portugal has become a very relevant market for Castellana Properties and the results obtained in the last semester reaffirm our investment and Iberian expansion strategy, with significant increases in footfall and sales”.
The company controlled by the South African fund Vukile also highlighted advances in governance and credit: it received EPRA ratings and an improvement in rating to BBB, with a stable outlook by Fitch Ratings — data that reinforces its position in the Iberian real estate retail sector.