Cureus publishes Sustainability Report 2022

Press release

Cureus publishes Sustainability Report 2022

• Report complies with Global Reporting Initiative (GRI) standards
• Industry-specific EPRA criteria are taken into account
• Construction sites, property portfolio and business operations are covered
• All new properties target KfW 40 energy-efficiency standard, first projects planned according to DGNB Silver
• Responsible employer for around 150 employees

Hamburg, 30 June 2023. Cureus, an integrated property company that specialises in developing and actively managing its own care home portfolio, has published its third Sustainability Report on the topics of "Forward-looking corporate governance", "Sustainable value creation" and "Responsible employer" with data for the 2023 financial year:

Download the report here

With the already third report on the company's ESG activities (environmental, social and governance activities), an increasingly reliable data basis is created to analyse and evaluate the performance of the construction sites, the portfolio and the business operations of the developer and portfolio holder of care properties. As in previous years, the report content is based on the criteria of the Global Reporting Initiative (GRI) and the European Public Real Estate Association (EPRA).

"Since its founding, we have wanted to manage and develop Cureus efficiently and sustainably in order to be a reliable long-term partner for all our stakeholders," says Gerald Klinck, CEO of Cureus, and continues: "With this in mind, we safeguard our economic stability through appropriate governance measures and supplement these with ecological and social standards and voluntary commitments. With a constantly evolving package of measures, the achievement of which we regularly document, we deal transparently with the demands placed on us. In addition, we again had ourselves voluntarily assessed by the Sustainalytics rating agency last year and achieved an excellent result, which we see as an impulse for our further development."

Cureus was given a low ESG risk rating of 10.1 points in December 2022. In the previous year, this was still 12.2 points. According to the ESG rating scheme, which runs up to 100 points, the company is thus at the lowest end of the "low risk" category and just before the "negligible risk" assessment. This allows Cureus to stand out from the competition, especially in capital market discussions with banks. Further information on the ESG rating by Sustainalytics can be found here.

ESG incorporated in the DNA of the Cureus standard

Cureus is a specialist in the inpatient care home real estate sector in Germany with a specially created system approach. In order to ensure the company has a sustainable portfolio in the long-term, Cureus focuses on a wide range of financial, social and environmental aspects throughout the design, planning and construction of its system care homes. In addition to achieving the cost-efficient construction of affordable care places for all sections of the community through standardisation and optimised procurement and integrating high-quality, resident-friendly building features and equipment, the company also strives to maximise the energy efficiency of all of its properties. In pursuit of these aims, Cureus strives to comply with the KfW 40 energy-efficiency standard in all new buildings and first projects are already planned according to DGNB Silver. A comprehensive catalogue of environmental and social criteria also helps to determine the choice of location for each new Cureus senior care home. The company is also committed to the principles of the Institute for Corporate Governance in the German Real Estate Industry (ICG).

Employees as an important target group

Cureus takes its responsibility towards its employees very seriously and strives to further enhance the attractive and, above all, safe and healthy working environment it has created for its employees. In addition to a wide variety of attractive offers and programmes, the company’s diverse workforce benefits from the dynamism of a young company and the opportunity to actively shape their own working environment in the further development of the company. In the reporting year, the first employee survey was conducted in the company with extremely positive results.

Specific goals for the company’s sustainable future development

Cureus has also defined concrete measures with the current sustainability report to continue its growth without compromising on its ESG commitments. For example, the physical and climate risks for the building stock are currently being determined and assessed. Together with the DGNB, work is being done to receive the DGNB “Initial Certificate” for the system care homes before the end of 2023, and an energy audit for business operations is also to be carried out by 2024. As a responsible employer, we also want to become a training company and conduct another employee survey.

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About Cureus GmbH

Cureus GmbH has its operational headquarters in Hamburg and, with more than 15 years of experience and a team of around 155 employees, is an experienced integrated property company with special expertise in care homes in Germany that develops and manages its own property portfolio actively, while repeatedly selectively putting individual properties up for sale.

With its “system care home” standard, Cureus has developed a unique standard for care homes for inpatient care and assisted living, which can be implemented as a scalable solution independent of location. Based on the current legal requirements as well as the needs of operators, residents, and communities, Cureus is establishing new, consistent quality standards with its system care homes. The company is thereby offering a highly efficient product, which combines higher cost-efficiency at lower cost structures with improved living and service quality in the care sector.

With an average age of four years, the company’s property portfolio is still relatively new and, as of 31 March 2023, consists of 55 properties on long-term leases to care home operators with 5,516 care places and 440 assisted living units worth around EUR 1 billion. In addition, the company has 30 projects currently under construction and 52 notarised projects, which will add a further 6,807 care places and around 1,565 assisted living units to the portfolio by 2027. These projects have an expected value after completion of around EUR 1.6 billion. www.cureus.de/en

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