checkAd

    EQS-News  145  0 Kommentare Adler Group S.A. with continued solid operational performance in Q1 2024

    Für Sie zusammengefasst
    • Net rental income of €51m in Q1 2024, 4% lower due to portfolio disposals in 2023
    • Like-for-like rental growth of 5.1%, vacancy rate at 1.7%, average rent at €7.63/sqm/month
    • Completed disposals of development projects in Berlin and Leipzig with total cash proceeds of €43m

    EQS-News: Adler Group S.A. / Key word(s): Quarterly / Interim Statement
    Adler Group S.A. with continued solid operational performance in Q1 2024

    28.05.2024 / 07:30 CET/CEST
    The issuer is solely responsible for the content of this announcement.


    Adler Group S.A. with continued solid operational performance in Q1 2024

    • Net rental income of €51m in Q1 2024, 4% lower compared to €53m in Q1 2023 due to portfolio disposals in 2023
    • Like-for-like rental growth of 5.1%, vacancy rate at 1.7%, average residential rent at €7.63/sqm/month
    • FY 2024 net rental income guidance confirmed
    • Completed disposals of the development projects in Berlin and Leipzig with total cash proceeds of €43m received year-to-date
    • Rising interest costs and high one-off expenses for restructuring continue to weigh on net income
    • Binding agreement with bondholders for a comprehensive recapitalization enables extended runway for orderly disposal of assets and strengthening of the group’s equity position

    Luxembourg, 28 May 2024 – Adler Group S.A. ("Adler Group") announces its results for the three-month period ending March 2024 with a solid operational performance. Net rental income decreased only slightly by 4% from €53m in the previous year to €51m due to portfolio sales that have since then been completed, e.g. the Wasserstadt transaction in 2023. The decrease in size was partly compensated by like-for-like rental growth of 5.1% resulting in an average residential rent of €7.63/sqm/month for the core portfolio as per March 2024. The operational vacancy rate stood at 1.7% as per end of Q1 2024. Adler Group confirms its guidance for the net rental income expected in the full year 2024 between €200m and €210m.

    As per 31 March 2024, Adler Group’s residential core portfolio (not comprising units owned by the subsidiary BCP) includes 25,015 units, with the majority of 17,733 units located in Berlin. Compared to the year-end 2023, the portfolio value remains unchanged at €4.2bn as there was no portfolio revaluation in Q1 2024. The next portfolio revaluation will be concluded in Q2 2024.

    Seite 1 von 3


    Diskutieren Sie über die enthaltenen Werte


    EQS Group AG
    0 Follower
    Autor folgen

    Verfasst von EQS Group AG
    EQS-News Adler Group S.A. with continued solid operational performance in Q1 2024 EQS-News: Adler Group S.A. / Key word(s): Quarterly / Interim Statement Adler Group S.A. with continued solid operational performance in Q1 2024 28.05.2024 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. …