Aroundtown : H1 2022 Interim Consolidated Report

AROUNDTOWN S A

INTERIM CONSOLIDATED REPORT

FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2022

Berlin

FRANKFURT HBF& CBD

Frankfurt

Büro Center (FBC)

Mainzer Landstraße

43k sqmFrankfurt Stadtmitte Bleichstraße

9k sqm

Banking District

							FRANKFURT HBF & CBD
			APPROX. 200,000 SQM LETTABLE SPACE
		IN FRANKFURT'S PRIME CENTERS, MAIN CENTRAL TRAIN
							STATION AND BANKING DISTRICT
							Frankfurt HBF	Frankfurt Office Campus
Intercontinental Frankfurt
Wilhelm-Leuschner Straße					Stuttgarter Straße	Gutleutstraße
28k sqm					9k sqm	88k sqm

Frankfurt Hauptbahnhof

(Central Train Station)

Frankfurt HBF

Hafenstraße

20k sqm

CONTENT

					BOARD OF DIRECTORS´REPORT									INTERIM CONSOLIDATED FINANCIAL STATEMENTS
					THE BUSINESS & OPERATIONS								INTERIM CONSOLIDATED FINANCIAL STATEMENTS
					Key Financials	2		Interim consolidated statement of profit or loss	43
					Aroundtown	4		Interim consolidated statement of other comprehensive income	44
					Key Achievements	6		Interim consolidated statement of financial position	45
					Aroundtown's Quality Portfolio	9		Interim consolidated statement of changes in equity	47
					Capital Markets	20		Interim consolidated statement of cash flows	49
					MANAGEMENT DISCUSSION AND ANALYSIS								NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
					Notes on Business Performance	21		Notes to the interim consolidated financial statements	51
					Alternative Performance Measures	37
					Responsibility Statement & Disclaimer	42

FINANCIAL POSITION HIGHLIGHTS

in € millions unless otherwise indicated		Jun 2022		Dec 2021
Total Assets		39,020.2		39,383.1
Total Equity		18,860.1 1)		19,156.4
Investment property		29,568.6		29,115.9
Investment property of assets held for sale		843.9		1,009.3
Cash and liquid assets 2)		2,200.0		3,244.1
Total financial debt 3)		14,952.6		15,588.2
Unencumbered assets ratio 4)		84%		83%
Equity Ratio		48%		49%
Loan-to-Value		40%		39%

1. a payable of €246 million was created for dividends. This amount was not fully distributed as over one third of shareholders opted for the scrip dividend in July 2022
2. including cash and liquid assets under held for sale
3. including financial debt under held for sale
4. by rent

NET ASSET VALUE

	in € millions unless otherwise indicated			EPRA NRV			EPRA NTA	EPRA NDV
	Jun 2022		13,043.6		11,427.6	10,088.7
	Jun 2022 per share (in €)		11.9		10.4	9.2
	Per share growth		5%		4%	26%
	(dividend adjusted)
	Per share growth		3%		2%	23%
	Dec 2021		13,057.5		11,564.0	8,462.5
	Dec 2021 per share (in €)		11.5		10.2	7.5

KEY FINANCIALS

in € millions unless otherwise indicated		1-6/2022		Change		1-6/2021
Revenue		789.9		46%		541.4
Net rental income		612.5		34%		457.8
Adjusted EBITDA 1)		510.5		13%		451.9
FFO I 1) 2)		185.6		8%		172.0
FFO I per share (in €) 1) 2)		0.17		13%		0.15
FFO II 2)		359.8		(34%)		548.4
ICR 3)		5.3x		0.6x		4.7x
Profit for the period		471.0		30%		362.1
EPS (basic) (in €)		0.25		0%		0.25
EPS (diluted) (in €)		0.25		0%		0.25

1. including AT's share in companies over which AT has significant influence, excluding contributions from assets held for sale
2. including extraordinary expenses for uncollected rent due to the Covid pandemic (€45 million in H1 2022, €75 million in H1 2021)
3. reclassified during Q4 2021 to exclude the contributions from joint venture positions

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AROUNDTOWN

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BOARD

OF

DIRECTORS'

REPORT

BERLIN ALEXANDERPLATZ

Alexanderplatz

Karl-Liebknecht-Straße

24k sqm

Berlin TV Tower

Hackescher Markt

Münzstraße & Max-Beer-Straße

2k sqm

Hackescher Markt

Dircksenstrasse

9k sqm

Alexanderplatz

Alexanderplatz			BERLIN
Karl-Liebknecht-Straße			ALEXANDERPLATZ
34k sqm
Alexanderplatz				AT HAS OVER
			140,000 SQM
6k sqm
Karl-Liebknecht-Straße
					LETTABLE SPACE IN
	Alexanderplatz			THE PRIME COMMERCIAL
	Alexanderstraße			AND TOURIST CENTER
	55k sqm
					ALEXANDERPLATZ

Alexanderplatz

Bernhard-Weiß-Straße

2k sqm

Alexanderplatz

Train Station Alexanderplatz

Rathausstraße

11k sqm

AROUNDTOWN SA | BOARD OF DIRECTORS' REPORT | 3