EQS-News Aroundtown SA announces FY 2022 results with guidance achieved and continued disposals despite challenging environment
EQS-News: Aroundtown SA / Key word(s): Annual Report/Dividend
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 ANNOUNCES FY 2022 RESULTS WITH GUIDANCE ACHIEVED AND CONTINUED DISPOSALS DESPITE CHALLENGING ENVIRONMENT
- Disposals in the amount of €1.6 billion in 2022 with an additional €150 million in 2023-to-date demonstrating ability to sell despite difficult market conditions with proceeds strengthening the liquidity profile.
- Net rental income of €1.2 billion in 2022, increasing by 13% as compared to €1.1 billion in 2021 mostly from the consolidation of GCP and like for like rental growth of 3.5%, offset by disposals.
- FFO I amounting to €363 million in 2022, up 3% YOY.
- FFO I per share in 2022 at €0.33 up by 10% compared to €0.30 in 2021 as a result of the positive impacts from the accretive share buyback.
- Net loss of €457 million as result of property devaluations and impairment of goodwill, reflecting a loss per share of €0.58.
- EPRA NTA of €9.3 per share, 2% down as compared to €9.5 per share in 2021. Total EPRA NTA amounted to €10.1 billion as of December 2022.
- EPRA NTA including RETT (previously defined as EPRA NTA) per share amounted to €9.8 in 2022, compared to €10.2 in 2021.
- Conservative financial profile maintained with low LTV of 40%, strong ICR at 5.2x, and unencumbered assets of €22.2 billion (82% by rent) as of December 2022. High headroom to bond covenants.
- Proactive repayments of shorter-term bonds and bank loans in the amount of approx. €1.1 billion in 2022, offset by €500 million in longer maturity bank debt raised in 2022.
- Guidance for FY 2022 achieved and guidance for FY 2023 published.
- Due to macro-economic uncertainty, the company will not pay dividend for 2022.
28 March 2023.
|Diskussion: Aroundtown Properties, ein schlafender Riese, großes Aufwärtspotenzial|