Aroundtown Properties, ein schlafender Riese, großes Aufwärtspotenzial (Seite 1040)
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ISIN: LU1673108939 · WKN: A2DW8Z · Symbol: AT1
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| 0,5900 | +64,80 | |
| 1,8450 | +60,16 | |
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| 99,80 | +23,06 |
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| 8,0000 | -15,34 | |
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Aroundtown SA Q1 2021 results in line with expectations and well-positioned to capture future recovery
27.05.2021
DGAP-News: Aroundtown SA / Key word(s): Quarter Results/Real Estate
27.05.2021 / 06:55
The issuer 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, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS
AROUNDTOWN Q1 2021 RESULTS IN LINE WITH EXPECTATIONS AND WELL-POSITIONED TO CAPTURE FUTURE RECOVERY
- Net rental income of €233 million in Q1 2021, 1% lower compared to Q1 2020 primarily due to disposals.
- 2021 YTD disposals amounting to over €970 million, of which over €420 million closed in Q1.
- Recycling disposal proceeds into €500 million share buyback program at a deep discount to EPRA NTA and accretive impact expected in coming periods.
- Adjusted EBITDA of €230 million for Q1 2021, in comparison to €237 million for Q1 2020.
- FFO I before Covid adjustment of €125 million in Q1 2021, as compared to €127 million in Q1 2020. Including extraordinary expenses due to the Covid pandemic, FFO I for Q1 2021 was €87 million.
- FFO I per share of €0.073 for Q1 2021.
- Net Profit in Q1 amounted to €146 million with a basic EPS of €0.09.
- EPRA NTA as of March 2021 at €11.4 billion, or €9.6 per share, as compared to €11.2 billion and €9.5 per share as at December 2020.
- Strong equity base of €15.9 billion, reflecting an equity ratio of 52% as of March 2021.
- Investment property, excluding assets held-for-sale, at €20.8 billion as of March 2021.
- Robust financial platform maintained with a low cost of debt of 1.4%, long average debt maturity period of 6.0 years, low LTV of 34% and an ICR of 4.9x.
- Total LFL rental growth of 0.1%, excluding hotels the LFL rental growth stood at 1.3%.
- Strong liquidity position, sufficient to cover debt maturities in the next 3 years, further supported by a large level of unencumbered assets amounting to €15.9 billion and 80% by rent at the end of March 2021.
- Guidance for FY 2021 confirmed.
27 May 2021.
Aroundtown ('the Company' or 'AT') began 2021 in line with expectations with a solid financial position and a strong portfolio that continues to benefit from its diversified nature. The Company continued its capital recycling activities with 2021 YTD signed disposals of over €970 million of which over €420 million were closed during the first quarter of 2021, crystalizing gains of 52% on total costs including capex reflecting a premium of 6% over net book values. The disposals above book value validate portfolio valuations, free up funds for accretive share buybacks and the disposals of non-core assets increase the remaining portfolio's quality.
STABLE PORTFOLIO SUPPORTED BY HIGH QUALITY ASSETS IN STRONG LOCATIONS
AT's diversified portfolio focused on central locations in top tier cities, delivered a stable performance with net rental income increasing slightly by 0.1% on a like-for-like basis, and 1.3% excluding the negative impact from hotels. During the first quarter of 2021, the Company posted an FFO I of €87 million, including extraordinary provisions for uncollected rent related to the hotel portfolio. Excluding these expenses, FFO I for the reporting period stood at €125 million, as compared to €127 million in the first quarter of 2020, slightly lower as a result of the strong disposal activity between the periods. Although different portfolio locations remained under lockdown as a result of the coronavirus pandemic during the first quarter of 2021, an increasing number of vaccinations being distributed in recent weeks and an easing of restrictions in some locations indicate that the path to recovery is encouraging. Aroundtown recorded a relatively small revaluation gain in the first quarter of 2021 as only a small portion of its portfolio was revalued. A more significant revaluation of the portfolio is expected in the second half of 2021, in light of the recent reliefs in lockdowns and restrictions across the portfolio's locations. As of the end of March 2021, AT recorded an EPRA NTA of €11.4 billion and €9.6 per share as compared to €11.2 billion and €9.5 per share respectively, at the end of December 2020.
ACCRETIVE CAPITAL RECYCLING RESULTING IN SHAREHOLDER VALUE CREATION
Aroundtown has continued to implement capital recycling measures aimed at enhancing the quality of the portfolio. Disposal proceeds are directed towards the accretive share buyback program announced at the end of March 2021 of up to €500 million. As the 2021 buyback program only started at the end of Q1, the impact on the Q1 financials is immaterial, with the full impact expected over the coming periods as a larger share of the program is completed. As of 21 May 2021, 24% of the program has been executed reflecting an amount of €120 million repurchased at a steep discount to NAV, utilizing the proceeds of disposals which were carried at a premium to book value. Accordingly, the capital recycling results in significant long-term shareholder value creation. AT has also completed debt repayments of higher interest-bearing bank loans and bonds, together amounting to over €500 million as at the end of March 2021 and had an average cost of debt of 1.4% with a long average debt maturity period of 6.0 years.
The Interim Consolidated Report for Q1 2021 is available on the Company's website:
27.05.2021
DGAP-News: Aroundtown SA / Key word(s): Quarter Results/Real Estate
27.05.2021 / 06:55
The issuer 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, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS
AROUNDTOWN Q1 2021 RESULTS IN LINE WITH EXPECTATIONS AND WELL-POSITIONED TO CAPTURE FUTURE RECOVERY
- Net rental income of €233 million in Q1 2021, 1% lower compared to Q1 2020 primarily due to disposals.
- 2021 YTD disposals amounting to over €970 million, of which over €420 million closed in Q1.
- Recycling disposal proceeds into €500 million share buyback program at a deep discount to EPRA NTA and accretive impact expected in coming periods.
- Adjusted EBITDA of €230 million for Q1 2021, in comparison to €237 million for Q1 2020.
- FFO I before Covid adjustment of €125 million in Q1 2021, as compared to €127 million in Q1 2020. Including extraordinary expenses due to the Covid pandemic, FFO I for Q1 2021 was €87 million.
- FFO I per share of €0.073 for Q1 2021.
- Net Profit in Q1 amounted to €146 million with a basic EPS of €0.09.
- EPRA NTA as of March 2021 at €11.4 billion, or €9.6 per share, as compared to €11.2 billion and €9.5 per share as at December 2020.
- Strong equity base of €15.9 billion, reflecting an equity ratio of 52% as of March 2021.
- Investment property, excluding assets held-for-sale, at €20.8 billion as of March 2021.
- Robust financial platform maintained with a low cost of debt of 1.4%, long average debt maturity period of 6.0 years, low LTV of 34% and an ICR of 4.9x.
- Total LFL rental growth of 0.1%, excluding hotels the LFL rental growth stood at 1.3%.
- Strong liquidity position, sufficient to cover debt maturities in the next 3 years, further supported by a large level of unencumbered assets amounting to €15.9 billion and 80% by rent at the end of March 2021.
- Guidance for FY 2021 confirmed.
27 May 2021.
Aroundtown ('the Company' or 'AT') began 2021 in line with expectations with a solid financial position and a strong portfolio that continues to benefit from its diversified nature. The Company continued its capital recycling activities with 2021 YTD signed disposals of over €970 million of which over €420 million were closed during the first quarter of 2021, crystalizing gains of 52% on total costs including capex reflecting a premium of 6% over net book values. The disposals above book value validate portfolio valuations, free up funds for accretive share buybacks and the disposals of non-core assets increase the remaining portfolio's quality.
STABLE PORTFOLIO SUPPORTED BY HIGH QUALITY ASSETS IN STRONG LOCATIONS
AT's diversified portfolio focused on central locations in top tier cities, delivered a stable performance with net rental income increasing slightly by 0.1% on a like-for-like basis, and 1.3% excluding the negative impact from hotels. During the first quarter of 2021, the Company posted an FFO I of €87 million, including extraordinary provisions for uncollected rent related to the hotel portfolio. Excluding these expenses, FFO I for the reporting period stood at €125 million, as compared to €127 million in the first quarter of 2020, slightly lower as a result of the strong disposal activity between the periods. Although different portfolio locations remained under lockdown as a result of the coronavirus pandemic during the first quarter of 2021, an increasing number of vaccinations being distributed in recent weeks and an easing of restrictions in some locations indicate that the path to recovery is encouraging. Aroundtown recorded a relatively small revaluation gain in the first quarter of 2021 as only a small portion of its portfolio was revalued. A more significant revaluation of the portfolio is expected in the second half of 2021, in light of the recent reliefs in lockdowns and restrictions across the portfolio's locations. As of the end of March 2021, AT recorded an EPRA NTA of €11.4 billion and €9.6 per share as compared to €11.2 billion and €9.5 per share respectively, at the end of December 2020.
ACCRETIVE CAPITAL RECYCLING RESULTING IN SHAREHOLDER VALUE CREATION
Aroundtown has continued to implement capital recycling measures aimed at enhancing the quality of the portfolio. Disposal proceeds are directed towards the accretive share buyback program announced at the end of March 2021 of up to €500 million. As the 2021 buyback program only started at the end of Q1, the impact on the Q1 financials is immaterial, with the full impact expected over the coming periods as a larger share of the program is completed. As of 21 May 2021, 24% of the program has been executed reflecting an amount of €120 million repurchased at a steep discount to NAV, utilizing the proceeds of disposals which were carried at a premium to book value. Accordingly, the capital recycling results in significant long-term shareholder value creation. AT has also completed debt repayments of higher interest-bearing bank loans and bonds, together amounting to over €500 million as at the end of March 2021 and had an average cost of debt of 1.4% with a long average debt maturity period of 6.0 years.
The Interim Consolidated Report for Q1 2021 is available on the Company's website:
Antwort auf Beitrag Nr.: 68.292.116 von froggybaby am 25.05.21 10:42:34
Aroundtown schleicht sich zwar im Kurs wieder heran, aber zuletzt reichte es in Vorhersagen leider nicht mal für den neuen DAX 40 ab September.
Man muss sehen, dass viele andere MDAX Schwergewichte in All-Time-High Regionen notieren, während Aroundtown auch nach der zuletzt stabilen Entwicklung noch immer +30% zum 2020er-Hoch fehlen.
Vonovia greift nach Deutsche Wohnen.
Da könnte auch die Wohnimmobilientochter von Aroundtown, nämlich Grand City Properties, mal stärker in den Fokus rücken.
Adler Group ist heute bereits mit +5,23% angesprungen ...
Am 27.05.21 kommen die Q1 Zahlen bei Aroundtown.
Wahrscheinlich nicht so interessant und noch wenig gut - wichtiger sehe ich Bemerkungen, die über das 2. Halbjahr getroffen werden.
Zitat von froggybaby: dann wird ja jetzt ein DAX-Platz von Deutsche wohnen frei für Aroundtown
Aroundtown schleicht sich zwar im Kurs wieder heran, aber zuletzt reichte es in Vorhersagen leider nicht mal für den neuen DAX 40 ab September.
Man muss sehen, dass viele andere MDAX Schwergewichte in All-Time-High Regionen notieren, während Aroundtown auch nach der zuletzt stabilen Entwicklung noch immer +30% zum 2020er-Hoch fehlen.
Vonovia greift nach Deutsche Wohnen.
Da könnte auch die Wohnimmobilientochter von Aroundtown, nämlich Grand City Properties, mal stärker in den Fokus rücken.
Adler Group ist heute bereits mit +5,23% angesprungen ...
Am 27.05.21 kommen die Q1 Zahlen bei Aroundtown.
Wahrscheinlich nicht so interessant und noch wenig gut - wichtiger sehe ich Bemerkungen, die über das 2. Halbjahr getroffen werden.
dann wird ja jetzt ein DAX-Platz von Deutsche wohnen frei für Aroundtown 
GRAND CITY PROPERTIES S.A. STARTS 2021 IN LINE WITH GUIDANCE, SUPPORTED BY SOUND OPERATIONS AND ENHANCED PORTFOLIO QUALITY
- €270 million share buyback program, of which €89 million completed in Q1 2021, supports accretive growth on a per share basis.
- Net rental income for Q1 2021 at €90.6 million as compared to €94.5 million in Q1 2020, lower due to disposals at gains over book value.
- Adjusted EBITDA of €73 million for Q1 2021, as compared to €74 million for Q1 2020.
- FFO I at €47 million for Q1 2021, stable in comparison to Q1 2020, as a result of strong operational efficiencies.
- FFO I per share for Q1 2021 was €0.27, against €0.28 for the corresponding period in 2020. FFO I yield of 4.9% (based on a share price of €22).
- Disposals of €220 million at a significant gain of 16% over net book values.
- Profit for the period amounted to €51 million, basic EPS of €0.20 and diluted EPS of €0.19.
- EPRA NTA as of March 2021 amounted to €4.5 billion and €27.0 per share, as compared to €4.6 billion and €26.5 per share as of year-end 2020.
- Strong equity base maintained with total equity amounting to €5.4 billion, reflecting an equity ratio of 50%.
- Conservative nature of the credit profile retained with a low LTV of 33%, larger level of unencumbered investment properties amounting to €7.6 billion (92% of total portfolio value), complemented with a robust capacity for profit generation reflected in the ICR of 6.2x. Cost of debt reduced to 1% coupled with 7-year average debt maturity.
- Robust organic growth sustained with net rental income increasing by 1.8% on a like-for-like basis, with 1.1% increase attributable to in-place rent increases and 0.7% as a result of occupancy increases.
- FY 2021 guidance confirmed.
Luxembourg, May 18, 2021 - Grand City Properties S.A. ("GCP" or the "Company") reported results for the first quarter of 2021, with net rental income marginally decreasing to €91 million as a result of disposals of non-core assets. This decrease was partially offset by the like-for-like net rental income increase of 1.8%. During the first quarter of 2021, GCP posted an adjusted EBITDA of €73 million, marginally lower as compared to Q1 2020. FFO I of €47 million, remaining stable as compared to the same period in 2020.
GCP completed disposals amounting to €220 million during the first quarter of 2021, generating a high profit margin of 35% over total costs (including capex). These disposals comprised mainly of assets held-for-sale and other non-core assets, located in Eastern Germany and secondary cities, and were carried at a multiple of 17x. The Company also repurchased shares amounting to €89 million, at a discount to NAV, which will support increasing shareholder value in the following periods. Additionally, GCP also acquired quality assets amounting to €100 million, predominantly located in London, at a multiple of 18x.
The Company implemented several debt optimisation measures during the first quarter of 2021 with the issuance of its largest ever straight bond of €1 billion, at a record low coupon of 0.125%, while also prepaying debt of over €750 million. As a result of these measures, GCP's average cost of debt at the end of March 2021 decreased to 1%, from 1.3% as of December 2020. The Company continues to maintain a long average debt maturity period of 7 years. Furthermore, the robust capacity for profit generation resulted in a strong ICR of 6.2x.
Refael Zamir, CEO of Grand City Properties: "We begin the year with a solid financial and business platform, positioning us well to deliver on our goals for the year and to create further growth in the years to come."
- €270 million share buyback program, of which €89 million completed in Q1 2021, supports accretive growth on a per share basis.
- Net rental income for Q1 2021 at €90.6 million as compared to €94.5 million in Q1 2020, lower due to disposals at gains over book value.
- Adjusted EBITDA of €73 million for Q1 2021, as compared to €74 million for Q1 2020.
- FFO I at €47 million for Q1 2021, stable in comparison to Q1 2020, as a result of strong operational efficiencies.
- FFO I per share for Q1 2021 was €0.27, against €0.28 for the corresponding period in 2020. FFO I yield of 4.9% (based on a share price of €22).
- Disposals of €220 million at a significant gain of 16% over net book values.
- Profit for the period amounted to €51 million, basic EPS of €0.20 and diluted EPS of €0.19.
- EPRA NTA as of March 2021 amounted to €4.5 billion and €27.0 per share, as compared to €4.6 billion and €26.5 per share as of year-end 2020.
- Strong equity base maintained with total equity amounting to €5.4 billion, reflecting an equity ratio of 50%.
- Conservative nature of the credit profile retained with a low LTV of 33%, larger level of unencumbered investment properties amounting to €7.6 billion (92% of total portfolio value), complemented with a robust capacity for profit generation reflected in the ICR of 6.2x. Cost of debt reduced to 1% coupled with 7-year average debt maturity.
- Robust organic growth sustained with net rental income increasing by 1.8% on a like-for-like basis, with 1.1% increase attributable to in-place rent increases and 0.7% as a result of occupancy increases.
- FY 2021 guidance confirmed.
Luxembourg, May 18, 2021 - Grand City Properties S.A. ("GCP" or the "Company") reported results for the first quarter of 2021, with net rental income marginally decreasing to €91 million as a result of disposals of non-core assets. This decrease was partially offset by the like-for-like net rental income increase of 1.8%. During the first quarter of 2021, GCP posted an adjusted EBITDA of €73 million, marginally lower as compared to Q1 2020. FFO I of €47 million, remaining stable as compared to the same period in 2020.
GCP completed disposals amounting to €220 million during the first quarter of 2021, generating a high profit margin of 35% over total costs (including capex). These disposals comprised mainly of assets held-for-sale and other non-core assets, located in Eastern Germany and secondary cities, and were carried at a multiple of 17x. The Company also repurchased shares amounting to €89 million, at a discount to NAV, which will support increasing shareholder value in the following periods. Additionally, GCP also acquired quality assets amounting to €100 million, predominantly located in London, at a multiple of 18x.
The Company implemented several debt optimisation measures during the first quarter of 2021 with the issuance of its largest ever straight bond of €1 billion, at a record low coupon of 0.125%, while also prepaying debt of over €750 million. As a result of these measures, GCP's average cost of debt at the end of March 2021 decreased to 1%, from 1.3% as of December 2020. The Company continues to maintain a long average debt maturity period of 7 years. Furthermore, the robust capacity for profit generation resulted in a strong ICR of 6.2x.
Refael Zamir, CEO of Grand City Properties: "We begin the year with a solid financial and business platform, positioning us well to deliver on our goals for the year and to create further growth in the years to come."
Trading Spotlight
Ausstehende Aktien?
kann mir jemand bitte die aktuelle aktienanzahl von aroundtonw nennen? bin grad dabei die möglichen dax40 aufstiegsaspiranten-liste von einem thread hier von februar neu zu berechnen. Und durch die Rückkaufsaktionen bin ich mir aktuell nicht sicher, welche Anzahl ich ansetzen soll
Gott sei Dank. Jeder Tag im ARP unter 7€ ist Gold wert...
der "Deckel" vom Chart ist ja echt aus deutscher Eiche..man, der kommt einfach nicht über die 6,50 nachhaltig drüber
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