sur Aroundtown S.A. (isin : LU1673108939)
Aroundtown SA Reports Stable Q1 2024 Results
Aroundtown SA has announced results for the first quarter of 2024, reflecting a stable start to the year. Net rental income was €293 million, a slight 1% decline year-over-year, as a 2.8% like-for-like rental income growth mostly offset disposals. Adjusted EBITDA rose by 1% to €247 million, driven by rental income growth and cost efficiencies.
FFO I totaled €76 million, in line with the 2024 guidance. The company reported a net profit of €102 million, with basic earnings per share of €0.04. EPRA NTA remained stable at €8.1 billion or €7.4 per share. The LTV stood steady at 43%, while the unencumbered assets ratio was 74%, amounting to €18 billion.
Aroundtown completed disposals of approximately €110 million in Q1 2024, with year-to-date signed disposals reaching €200 million. Additionally, €240 million in new secured financing was signed in 2024.
Post-Q1, Aroundtown and GCP finished exchange offers for perpetual notes, issuing new notes totaling €2.5 billion, thus improving capital market access and supporting credit ratings.
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