The European Science Park Group (ESPG AG) has presented its half-year report as of 30 June 2026. In a challenging market environment, the real estate company specialising in science parks recorded a break-even result. Despite higher interest rates and a temporary increase in vacancies, revenues were sufficient to cover property operating costs, overheads and ongoing debt service in full.
Solid earnings figures and value-enhancing investments
Gross profit amounted to EUR 4.9 million in the first half of 2026, compared with EUR 5.0 million in the same period of the previous year. The company compensated for the departure of previous major tenants through new lease agreements, whilst efficiency gains in operations supported profitability. Earnings before taxes (EBT) rose from EUR 0.2 million in the previous year to EUR 0.5 million, whilst consolidated net profit reached EUR 0.01 million. The loan-to-value ratio remained at a constant level of 57.6 per cent.
The company's total portfolio comprises 16 science parks with a lettable area of around 126,000 square metres. To secure long-term positioning, around EUR 2.2 million in value-enhancing investments was channelled into existing properties during the reporting period. As CEO Dr Ralf Nöcker emphasised, these measures serve to keep the assets sustainably attractive to tenants from forward-looking sectors.
On the letting side, the company recorded notable successes at several locations, expanding the occupier base and reducing vacancies:
- —Ulm: Ten-year lease agreement with Ulm University Hospital following Nokia's departure
- —Minden: Five-year new lease with Helmsauer in POWERHUB as well as space modernisations for DMSZ in CAMPTEQ
- —AERO49: Five-year contract extension with the technology company Silicon Labs
- —Cologne: Partnership with IWG to create an HQ Business Centre at North43
New management team for portfolio development
In parallel with operational letting activities, ESPG AG restructured its management level. Christian Fendel assumed the position of Managing Director and Head of Finance. The business graduate and lawyer possesses management experience in medium-sized enterprises and the investment sector. Head of Asset and Portfolio Management is Marco Lüder, who brings extensive expertise from managing nationwide commercial real estate portfolios.
Looking at the half-year figures, Christian Fendel explained that the combination of a stable capital structure and reinvestments made forms the basis for future earnings growth. Expenditure on structural quality and re-letting is expected to have a positive impact on operating cash flow in the near future.
