CPI Property Group - comment

After market close last night, CPI announced its FY 25 results, which were in line, with Adjusted EBITDA higher and FFO a little lower than we expected. The upward revaluations of EUR200m represent only 1% of portfolio value. We are not concerned, but will keep an eye on valuation developments. As a result, CPI’s SUNs and Hybrids should perform in line with peers, given the lack of surprises.

There is an analyst call at 10:00 UK time tomorrow.