201 0 Kommentare Aroundtown SA announces FY 2023 results with strong liquidity and solid operations

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Aroundtown SA announces strong FY 2023 results
Disposals of €1.2bn in 2023 increase liquidity
Proactive liability management reduces net debt

Foto: Aroundtown SA

Aroundtown SA (IRSH)
Aroundtown SA announces FY 2023 results with strong liquidity and solid operations

27-March-2024 / 06:48 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 FY 2023 RESULTS WITH STRONG LIQUIDITY AND SOLID OPERATIONS

Disposals completed of over €1.2 billion in 2023, increasing liquidity and reducing leverage. Signed disposals amounted to €0.9bn in 2023.
Pro-active liability management, including the repurchase of €1.3 billion shorter-term bonds at a discount.
New bank debt of ca. €1 billion signed in 2023.
Liquidity balance increased to €3 billion and net debt reduced by €0.9 billion during 2023.
Property revaluations amounted to negative €3.2 billion, reflecting a like-for-like devaluation of 11%.
LTV of 43% as of December 2023, increased by 3% during the year as disposals and pro-active liability management partially mitigated the devaluation impact.
Net rental income of €1.2 billion in 2023, 2% lower year-over-year, as a result of net disposals, offset by total like-for-like rental income growth of 3.2%.
Adjusted EBITDA amounted to €1 billion in 2023, stable compared to 2022.
FFO I amounted to €332 million and €0.30 per share in 2023, lower by 8% and 9% respectively compared to 2022. Top range of 2023 guidance achieved and guidance for 2024 published.
Net loss of €2.4 billion and basic loss per share of €1.82 in 2023 mainly due to negative property revaluations.
EPRA NTA of €8.1 billion and €7.4 per share as of December 2023 compared to €10.1 billion and €9.3 per share as of December 2022.
Unencumbered assets ratio of 74%, reflecting a value of €17.9 billion and ICR of 4.2x in 2023.
Gradual progress in green building certifications: 100% of the Dutch office and 36% of total office portfolio green certified.
Due to current macro-economic environment, the Company will not pay dividend for 2023.