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    EQS-News  805  0 Kommentare Aroundtown SA announces Q1 2023 results in line with guidance

    EQS-News: Aroundtown SA / Key word(s): Quarter Results/Real Estate
    Aroundtown SA announces Q1 2023 results in line with guidance

    30.05.2023 / 06:47 CET/CEST
    The issuer is solely responsible for the content of this announcement.


    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 Q1 2023 RESULTS IN LINE WITH GUIDANCE

    • Disposals of approx. €320 million signed year to date (€155 million in Q1 2023).
    • Bonds repurchased in the amount of circa €710 million in 2023 YTD (€114.5m in Q1 2023) at a 17% discount to par.
    • Net rental income of €297 million in Q1 2023 as compared to €309 million in Q1 2022 as a result of high disposal volume.
    • FFO I amounting to €85 million for Q1 2023, down 5% YOY. FFO I per share amounted to €0.077 for Q1 2023, down 4% YOY.
    • Net loss of €22 million in Q1 2023 reflecting basic loss per share of 0.04, as a result of negative property revaluations in the amount of €133 million.
    • EPRA NTA amounting to €10 billion and EPRA NTA per share of €9.3 at the end of March 2023.
    • Conservative financial profile maintained, with LTV of 40% and equity ratio of 48% as of March 2023 and strong ICR of 4.8x in Q1 2023. 
    • Liquidity balance of €3 billion, up by over €300 million since Dec 2022, which cover debt maturities until the end of 2025. Additional liquidity sources through undrawn revolving credit lines and €22 billion unencumbered properties.
    • Full year 2023 guidance confirmed with all financial KPI’s in line.

    30 May 2023.

    Aroundtown (‘the Company’ or ‘AT’) presents the results for the first three months of 2023, in which net rental income amounted to €297 million, lower compared to the first quarter of 2022 as a result of disposals, which offset operational growth reflected in a like-for-like rental growth of 3.5%. In the first quarter of 2023 Aroundtown closed approx. €460 million of disposals around book value, of which part was signed in 2022. In 2023 year-to-date the Company has signed disposals amounting to approx. €320 million around book value. FFO I for the first 3 months of 2023 amounted to €85 million, or €0.077 per share, decreasing from €89 million or 0.080 compared to the same period of 2022 as a result of the disposals as well as from higher interest expenses driven by the current higher interest rate environment and from higher coupons on the perpetual notes which had their first call date in January and which the Board of Directors of both Aroundtown and GCP respectively decided not to call. Q1 2023 results were ahead of the FY 2023 guidance as the next quarters are expected to show higher financing costs as well as higher attributions to the perpetual notes. These impacts had already been expected and are in-line with the Company’s unchanged FY 2023 guidance.   

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    EQS-News Aroundtown SA announces Q1 2023 results in line with guidance EQS-News: Aroundtown SA / Key word(s): Quarter Results/Real Estate Aroundtown SA announces Q1 2023 results in line with guidance 30.05.2023 / 06:47 CET/CEST The issuer is solely responsible for the content of this announcement. THIS ANNOUNCEMENT …

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