EQS-News

HAMBORNER REIT AG starts 2024 with further growth in revenue and earnings

EQS-News: HAMBORNER REIT AG / Key word(s): Quarterly / Interim Statement/Quarter Results HAMBORNER REIT AG starts 2024 with further growth in revenue and earnings 23.04.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. PRESS RELEASE

HAMBORNER REIT AG starts 2024 with further growth in revenue and earnings

• Solid operating performance
• Income from rents and leases up 3.1% to €23.4 million
• FFO rises by 2.6% to €14.0 million
• Net asset value (NAV) per share of €10.19 (up +1.7% YTD)
• Confirmation of forecast for full-year 2024

OVERVIEW OF KEY FIGURES FOR THE FIRST QUARTER OF 2024

Duisburg, 23 April 2024 – Building on its positive business performance in the previous year, HAMBORNER REIT AG recorded further growth in revenue and earnings in the first quarter of 2024.

Income from rents and leases amounted to €23.4 million, up 3.1% on the same period of the previous year. The company benefited from the property acquisitions in the previous year and additional contractually agreed rent adjustments as a result of the inflation development (indexation clauses). On a like-for-like basis, rental income in the first three months increased by 2.1% year-on-year.

Funds from operations (FFO) rose by 2.6% to €14.0 million in the first quarter, positively influenced by the rent increases. FFO per share was therefore €0.17.

The company’s financial position remains comfortable. The REIT equity ratio was at a consistently high level of 56.1% as at 31 March 2024. The loan-to-value (EPRA LTV) ratio declined to 42.6% as against the end of 2023.

PORTFOLIO DEVELOPMENT

There were no changes within the property portfolio in the first quarter of 2024. As previously, the portfolio therefore comprises 67 office and retail properties with a total volume of €1,471.0 million. Net asset value (NAV) per share amounted to €10.19 as at 31 March 2024, up around 1.7% as against the end of 2023 (€10.02).