DGAP-News

Aroundtown SA announces 9m 2020 results in line with guidance, valuations further supported by large disposals above book value

DGAP-News: Aroundtown SA / Key word(s): 9 Month figures/Real Estate Aroundtown SA announces 9m 2020 results in line with guidance, valuations further supported by large disposals above book value 25.11.2020 / 06:51 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, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS

AROUNDTOWN ANNOUNCES 9M 2020 RESULTS IN LINE WITH GUIDANCE,
VALUATIONS FURTHER SUPPORTED BY LARGE DISPOSALS ABOVE BOOK VALUE

 

- Net rental income rose to €758 million in 9M 2020, increasing 37% from €555 million in 9M 2019

- Adjusted EBITDA increased to €723 million in 9M 2020, an increase of 30% compared to €557 million in 9M 2019

- FFO I grew 18% to €438 million in the first nine months of 2020, from €371 million in 9M 2019

- FFO I per share after perpetual lower by 3% year over year, amounting to €0.28 per share in 9M 2020

- FFO I per share after perpetual, Covid adjusted decreased in 9M 2020 by 24% to €0.22 per share

- Signed disposals of approx. €2.1 billion YTD, +3% above book value. Proceeds supporting liquidity, funding debt repayments and accretive share buyback totaling €1 billion, generating significant accretive shareholder value in the next periods to come. Further disposals of half a billion Euro under advanced negotiations

- Supportive valuations, resulting in revaluation gains of €736 million in 9M 2020, +3.6% on a like-for-like basis.

- Net Profit for 9M 2020 of €812 million, reflecting EPS (basic) of €0.44

- EPRA NAV amounting to €12.3 billion and EPRA NAV per share of €9.3, increasing by 16% and 7% respectively since December 2019.

- Total Equity of €16.5 billion reflecting an equity ratio of 52%

- Investment property, excluding assets held for sale, of €21.8 billion, increasing from €18.1 billion as of Dec 2019, Group portfolio including share in GCP of €25 billion as of September 2020.