Q1 2022 FINANCIAL RESULTS

AROUNDTOWN SA | MAY 2022

BERLIN

TABLE OF CONTENTS

FRANKFURT

  • HIGHLIGHTS
  • OPERATIONS AND PORTFOLIO
  • FINANCIAL RESULTS
  • GUIDANCE
  • APPENDIX
    • ESG
    • DEVELOPMENT PROJECTS
    • MAIN CITIES AERIAL VIEW
    • MARKET DATA

Q1 2022 FINANCIAL RESULTS

AROUNDTOWN SA

2

HIGHLIGHTS

| BERLIN

Q1 2022 FINANCIAL RESULTS

AROUNDTOWN SA

3

Q1 2022 FINANCIAL HIGHLIGHTS

TOP & BOTTOM LINE

FINANCIAL DISCIPLINE

CONSERVATIVE DEBT PROFILE

↗

NET RENTAL INCOME

↗ CASH AND LIQUID ASSETS

↗ DEBT REPAYMENTS IN 2022 YTD

€309m

€2.2 bn

~€800m

+32% YOY

MAR 2022

With 1.2% avg. CoD and <2y avg. maturity

↗

RENT LIKE-FOR-LIKE

↗

UNENCUMBERED INVESTMENT PROPERTIES

↗ LOW COST OF DEBT

+1.7%(excl. hotels) / +0.9%(incl. hotels)

€23.9bn / 85% of rent

1.2%

MAR 2022 (GCP is not included)

MAR 2022

MAR 2022

↗

FFO I

↗

LTV

↗ LONG AVERAGE DEBT MATURITY

€89m / €119m(before extraordinary Covid adj.)

40%

5.7y

+3% YOY / -4% YOY

MAR 2022

MAR 2022

Guidance

confirmed

↗

FFO I ps.

↗ CREDIT RATING BY S&P

↗ INTEREST COVER RATIO

€0.080/ €0.106(before extraordinary Covid adj.)

BBB+/STABLE

5.3x

+10% YOY / +1% YOY

REAFFIRMED IN DEC 2021

Q1 2022 excluding JV contributions

Q1 2022 FINANCIAL RESULTS

AROUNDTOWN SA

4

CAPITAL RECYCLING UPDATE Q1 2022

DISPOSALS OF NON-CORE AND MATURE

...ABOVE BOOK VALUE, VALIDATING

... FUNDING DEBT REPAYMENTS AND

ASSETS...

PORTFOLIO VALUATIONS...

SHARE BUYBACKS

Office 71%

Retail 29%

Q1 2022 Closed

Hamburg 60%

Stuttgart

22%

Non-core

11%

Q1 2022 Closed

* of which €0.5bn signed during 2021

€1.1BN DISPOSALS SIGNED UNTIL 2022 YTD*

>€130M DISPOSALS CLOSED IN Q1 2022

+3%

+66%

Margin over book value

Margin over cost value

Q1 2022 Closed

Q1 2022 Closed

27x

Average disposal rent multiple

Q1 2022 Closed

28x

25x

Office

Retail

Q1 2022 Closed

Q1 2022 Closed

  • Disposals above book value (€1.1bn in 2022 YTD) are channelled into debt repayments (€0.8bn in 2022 YTD)
    & share buybacks (€0.2bn in 2022 YTD)
  • Shareholder value creation through selling assets above book value & buying back shares significantly below NAV. Effectively reinvesting into its own higher quality portfolio after sale of non-core

Q1 2022 FINANCIAL RESULTS

AROUNDTOWN SA

5

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Aroundtown SA published this content on 25 May 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2022 04:52:00 UTC.