EQS-News

HAMBORNER REIT AG: Annual financial statements confirm successful business performance with revenue and earnings growth in 2023 – dividend proposal of €0.48 per share – AGM on 25 April 2024 - Seite 2

Taking the reappraisals and the transactions completed into account, HAMBORNER had 67 properties with a total value of €1.471 billion as at 31 December 2023. Net asset value (NAV) per share declined by 15.5% year-on-year to €10.02.

At an operating level, the company achieved considerable success in its letting activities in the 2023 financial year. As a result, both the occupancy rate (98.3% according to the EPRA definition) and the average remaining term of leases (6.4 years) remained at a consistently high level as at 31 December 2023.

DIVIDEND & ANNUAL GENERAL MEETING

Despite the still-difficult conditions and in line with the successful business performance in 2023, the Management Board intends to continue its reliable dividend policy and will propose a dividend increase of 2.1% year-on-year to €0.48 per share at this year’s Annual General Meeting. Based on the current share price, this would correspond to a dividend yield of around 7.4%.

The company’s Annual General Meeting will again be held in person on 25 April 2024. The agenda and proposed resolutions as well as further information and documents will be published today on the company’s website at https://www.hamborner.de/en/general-shareholder-meeting.

OUTLOOK

Given the high quality of its property portfolio and its solid financial, earnings and liquidity situation and despite the consistently difficult economic conditions, the company is still feeling fundamentally positive about its prospects for 2024. Accordingly, it is confirming its guidance published in connection with its preliminary results:

• Income from rents and leases: €91.0 million to €92.5 million
• Funds from operations (FFO): €49.0 million to €50.5 million

Given the ongoing uncertainty over further developments on the property markets, the guidance does not take further property acquisitions and disposals into account.

Further information on the assumptions and key factors taken into account in the guidance can be found in the forecast report in the 2023 annual report, which is available for download on the company’s website at https://www.hamborner.de/en/financial-reports/.