Castellana Properties posts €62 million profits – up 87.3%

Castellana Properties, a listed company specializing in the management and acquisition of shopping centers and retail parks in Portugal and Spain, presented its first half results for 2025 today (April 1-September 20) reporting a record net profit of €61.8 million – a 87.3% on the same period in 2024.

In addition, Castellana obtained a Net Operating Income (NOI) of 56.9 million euros, with a comparable increase of 8.7% compared to the same period of the previous year, which according to the company reflects “the excellent operational dynamics of the portfolio and the consolidation of its presence in the Portuguese market”.

EBITDA grew 83.9% to €49.8 million, while Gross Rental Income (GRI) stood at €63.2 million at the end of the half-year, representing a like-for-like growth of 8.2% compared to the same period last year.

As for the gross asset value (GAV), this indicator rose to €1,772 million (an increase of 6.7% in the last six months) and a like-for-like growth of 2.3% compared to March 2025. These figures were also boosted by the acquisition of Forum Madeira in Portugal in April 2025, the company’s fifth asset in the country.

Footfall to its shopping malls grew 2.7% between April and September, driven by a 4% increase in sales. During the first half some 44 contracts were signed (18 new ones) worth €2,1 million in rents, an average improvement of 9.55% on last year’s rents).

Retail unit take-up levels at its Portuguese shopping centres stood at 98.9% with a 95.3% payment rate for rents.

Source: Castellana Properties