EQS-News Aroundtown SA announces FY 2022 results with guidance achieved and continued disposals despite challenging environment

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.