Aroundtown SA Announces FY 2023 Results: Solid Operations Despite Market Challenges

Aroundtown SA, a leading German commercial real estate company, reported its financial results for the fiscal year 2023, highlighting strong liquidity, solid operations, and proactive balance sheet management amidst a challenging macroeconomic landscape. The company achieved disposals totaling over €1.2 billion in 2023, significantly increasing liquidity and reducing leverage. Additionally, Aroundtown signed new bank debt of approximately €1 billion, showcasing robust banking relationships and financial stability.

Despite a volatile market, Aroundtown reported a net rental income of €1.2 billion, a slight decrease from the previous year due to net disposals. However, this was partially offset by a 3.2% growth in like-for-like rental income, indicating resilient operational performance. Furthermore, the company’s proactive liability management strategies led to a reduction in net debt by €0.9 billion and an increase in liquidity balance to €3 billion.

The year 2023 also saw Aroundtown making strides in its ESG initiatives, with significant progress in green building certifications and investments in energy-efficient refurbishments. Despite not paying a dividend for 2023 due to the current economic environment, the company remains committed to maintaining conservative leverage and strengthening its balance sheet for long-term growth.