EQS-News

Adler Group S.A. reports continued robust operational 9M performance and confirms guidance for full fiscal year

EQS-News: Adler Group S.A. / Key word(s): 9 Month figures Adler Group S.A. reports continued robust operational 9M performance and confirms guidance for full fiscal year 29.11.2022 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Adler Group S.A. reports continued robust operational 9M performance and confirms guidance for full fiscal year

• Like-for-like ("LFL") rental growth of +2.0% YoY, 9M NRI and FFO 1 decreased due to several portfolio disposals over the last twelve months
• Average residential rent stable at €7.56 per square meter, vacancy rate nearly halved to 1.7% compared to previous year
• Solid cash position of €615m (excl. cash held hat BCP level) adding to full funding of Adler Group until mid-2025, together with recently arranged up to €937.5m incremental debt package
• New strategy focusing on the residential real estate portfolio in Berlin while only selective development exposure will remain
• Net rental income expected in range of €233m - €242m and FFO 1 expected between €84m - €88m for fiscal year 2022

Luxembourg, 29 November 2022 - Shortly after reaching an agreement with major bondholders providing an additional funding commitment and securing financing until mid-2025, Adler Group S.A. ("Adler Group") today reported a continued robust operational performance of its yielding portfolio in the first nine months of 2022.

The third quarter of 2022 continued to show strong fundamentals of the yielding portfolio. The average in-place rent of the rental portfolio stood at €7.56/sqm/month as of 30 September 2022, representing a LFL rental growth of +2.0% YoY. The vacancy rate almost halved compared to the previous year and stands at 1.7% (2021: 3.3%) demonstrating the increased portfolio quality following recent disposals. The development of net rental income and funds from operations from rental activities (FFO 1) reflect the effects of the revised size of the portfolio. Net rental income decreased by -28% YoY to €187m, FFO 1 was at €68m (-33% YoY).