DGAP-News

Aroundtown SA announces 9m 2020 results in line with guidance, valuations further supported by large disposals above book value - Seite 3

GUIDANCE FOR FY 2020 CONFIRMED, WITH PARTIAL IMPACT FROM SHARE BUYBACK
The Company confirms the guidance for full year 2020, with the FFO I after perpetual expected to be in the range of €460-€485 million. The FFO I per share after perpetual increased to €0.35-€0.37 from €0.34-€0.36 per share, as a result of the share buyback program. The per share mid-guidance is reflecting a yield of 4.7% (based on a share price of €5.9). The impact from COVID is conservatively included as an extraordinary and non-recurring item, resulting in an FFO I per share after perpetual, COVID adjusted which increased to €0.26-€0.29 from €0.25-€0.28. As the majority of the share buyback has been executed in Q4 2020, its full effect on the FFO I per share will be in 2021.

MANAGEMENT UPDATE
Mr. Shmuel Mayo has agreed with the Board of Directors to retire from his position as Co-CEO. Mr. Mayo will instead continue and serve the Company as an advisor. Mr. Mayo commented: "It has been a great privilege to contribute to Aroundtown's growth over the last years and to be part of this remarkable team. I am stepping down from my position as Co-CEO due to personal reasons, but I am glad to continue to contribute further as an advisor to the Company".

The financial statements for 9M 2020 are available on the Company's website:
https://www.aroundtown.de/investor-relations/publications/financial-re ...

For definitions and reconciliations of the Alternative Performance Measures, please see the relevant sections in the pages 42-45 of the 9M 2020 financial statements. You can find the financial statements in AT's website under Investor Relations > Publications > Financial Reports or under this link:
https://www.aroundtown.de/fileadmin/user_upload/04_investor_relations/ ...

About the Company

Aroundtown SA (symbol: AT1), trading on the Prime Standard of the Frankfurt Stock Exchange, is the largest listed and highest rated (BBB+ by S&P) German commercial real estate company. Aroundtown invests in income generating quality properties with value-add potential in central locations in top tier European cities mainly in Germany/NL.