Instone Group Begins 2025 with Steady Performance Amid Uncertain Markets

Instone Real Estate Group AG reported a stable start for 2025, meeting key expectations despite macroeconomic challenges. The group achieved adjusted revenues of EUR 105.0 million for Q1 2025, slightly below the previous year's EUR 119.5 million. This dip was primarily due to the absence of large institutional sales witnessed in 2024. However, the company maintained a commendable gross profit margin of 26.8%, reflecting project quality and effective cost management.

Noteworthy was the 52% surge in retail sales, reaching EUR 38.7 million, driven by new project launches and favorable conditions for buy-to-let investors, including enhanced depreciation incentives. The company's strong financial health, underscored by an 11.8% loan-to-cost ratio, supports future growth with advanced talks for land acquisitions.

Instone remains optimistic, confirming its 2025 outlook with projected revenues between EUR 500 and 600 million. The firm anticipates a robust recovery in the stable German new-build sector, bolstered by ongoing institutional investor interest for subsequent sales within the year.