DGAP-News

PATRIZIA SE: PATRIZIA delivers robust performance in uncertain market environment - Seite 2

Total service fee income remained virtually stable at 161.6m (-1.8% y-o-y). The strategic shift in favour of recurring management fees amounting to EUR 116.4m (+11.9% y-o-y) on the back of AUM growth largely compensated for the expected decrease in performance and transaction fees to EUR 33.8m (-14.3% y-o-y) and EUR 11.4m (-45.8% y-o-y), respectively.

Net operating expenses increased 4.5% y-o-y to EUR 114.6m driven by continued investments aimed at product diversification and further internationalisation of the platform.

As result, EBITDA came in at EUR 54.5m, a decline of 9.5% year-on-year compared with EUR 60.3m for H1 2021. However, EBITDA showed robustness in absolute terms in an extraordinary volatile market environment and is reflective of PATRIZIA’s resilience, improved revenue mix and future-proofed investments.

PATRIZIA’s solid balance sheet with a net equity ratio of 73.1% and available liquidity of EUR 401.2m is testament to the company’s strength and stability, which it will draw upon in uncertain times to capitalise on new profitable growth opportunities.

Christoph Glaser, CFO of PATRIZIA SE, commented: “PATRIZIA has fared well in a volatile market environment. We will closely monitor further developments and quickly adapt to any short-term market changes if and when they arise. At the same time, we will use our financial flexibility for a capital allocation which is focused on accelerating organic growth in infrastructure, expanding our geographical footprint and taking advantage of new strategic growth opportunities, including M&A. Likewise, investments in PATRIZIA shares remain an attractive option for us.”

Wolfgang Egger, CEO of PATRIZIA SE, added: “PATRIZIA has always been a strong and stable partner for our clients. For sure, we are facing continued uncertainty in a challenging market environment. But the structural demand for attractive long-term investment opportunities in real estate and infrastructure continues to grow. Our recent client survey confirmed 64% our clients want to increase their allocation to infrastructure. Today, we offer our clients a much broader range of investment opportunities in real estate and infrastructure, in both, equity and debt solutions. This makes us a preferred partner to navigate our clients through the current market uncertainty.”