DGAP-News

Aroundtown Property Holdings Plc. opens 2016 with outstanding operational performance and is well positioned to realize the deal pipeline

Aroundtown Property Holdings Plc. / Key word(s): Quarterly / Interim Statement/Real Estate

27.05.2016 06:50

Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY
OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR
ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF
APPLICABLE LAWS OR REGULATIONS

AROUNDTOWN PROPERTY HOLDINGS PLC OPENS 2016 WITH OUTSTANDING OPERATIONAL
PERFORMANCE AND IS WELL POSITIONED TO REALIZE THE DEAL PIPELINE

- Rental and operating income at EUR50 million, up 149% YOY

- EBITDA amounted to EUR286 million. Adj. EBITDA increased to EUR 53
million, up 87% YOY

- Net profit amounted to EUR 230 million, EPS (basic) at EUR0.27

- FFO I at EUR 33 million, up 73% YOY

- FFO I per share increased to EUR5.5 cents, up by 45% YOY

- EPRA NAV EUR 3.3 billion; EPRA NAV including April 2016 equity increase
at EUR3.6 billion up 17% from Dec 2015

- Low leverage with LTV at of 38.5%. After conversion of convertible bond
series in the money and including the April 2016 equity increase LTV is
down to 19.3%

- Conservative capital structure also evident in an equity ratio of
55.5%, up to 61.5% including April 2016 equity issuance, supported by
high Interest Coverage Ratio of 4.6x

- Well positioned for further acquisitions, supported by strong cash
firepower steaming from April 2016 EUR267 million equity increase and
EUR600 million bond issuance

27 May 2016.

High operational growth reflecting the substantial year-over-year internal
and external portfolio growth

AT recorded remarkable operational performance in the first 3 months of
2016, reflected in the strong growth of adjusted EBITDA and FFO I. The
increased performance is a result of internal growth, arising from the
success of the turnaround of the portfolio, and from external growth
achieved by accretive and granular acquisitions. The FFO I per share
amounted to EUR5.5 cent in the first three months of 2016, up 45% in
comparison to the first quarter of 2015, validating the continuous
operational return to shareholders.

Continuing the strong value creation steaming from the materializing of the
upside potential embedded in the Group's assets

AT kept its strong growth momentum of 2015 into the first quarter of 2016,