Aroundtown : Q1 2022 Interim Consolidated Report

AROUNDTOWN S A

INTERIM CONSOLIDATED REPORT

FOR THE THREE-MONTH PERIOD ENDED MARCH 31, 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	42
					Aroundtown	4		Interim consolidated statement of other comprehensive income	43
					Key Achievements	6		Interim consolidated statement of financial position	44
					Aroundtown's Quality Portfolio	8		Interim consolidated statement of changes in equity	46
					Capital Markets	19		Interim consolidated statement of cash flows	48
					MANAGEMENT DISCUSSION AND ANALYSIS								NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
					Notes on Business Performance	20		Notes to the interim consolidated financial statements	50
					Alternative Performance Measures	36
					Responsibility Statement & Disclaimer	41

FINANCIAL POSITION HIGHLIGHTS KEY FINANCIALS

in € millions unless otherwise indicated		Mar 2022		Dec 2021
Total Assets		38,602.1		39,383.1
Total Equity		18,995.9		19,156.4
Investment property		28,901.7		29,115.9
Investment property of assets held for sale		1,259.4		1,009.3
Cash and liquid assets 1)		2,169.3		3,244.1
Total financial debt 2)		14,856.6		15,588.2
Unencumbered assets ratio 3)		85%		83%
Equity Ratio		49%		49%
Loan-to-Value		40%		39%

1. including cash and liquid assets under held for sale
2. including financial debt under held for sale
3. by rent

NET ASSET VALUE

in € millions unless otherwise indicated		EPRA NRV		EPRA NTA		EPRA NDV
Mar 2022		13,024.6		11,364.1		9,070.1
Mar 2022 per share (in €)		11.8		10.3		8.2
Per share growth		3%		1%		9%
Dec 2021		13,057.5		11,564.0		8,462.5
Dec 2021 per share (in €)		11.5		10.2		7.5

in € millions unless otherwise indicated	1-3/2022	Change	1-3/2021
Revenue	393.7	43%	274.9
Net rental income	308.8	32%	233.3
Adjusted EBITDA 1)	258.2	12%	230.4
FFO I before extraordinary Covid adjustment 1)	119.3	(4%)	124.6
FFO I per share before extraordinary	0.106	1%	0.105
Covid adjustment (in €) 1)
FFO I 1) 2)	89.3	3%	86.6
FFO I per share (in €) 1) 2)	0.080	10%	0.073
FFO II 2)	142.8	(39%)	233.3
ICR 3)	5.3x	0.7x	4.6x
Profit for the period	124.5	(15%)	146.3
EPS (basic) (in €)	0.06	(33%)	0.09
EPS (diluted) (in €)	0.06	(33%)	0.09

1. including AT's share in companies which AT has significant influence, excluding the contributions from assets held for sale
2. including extraordinary expenses for uncollected rent due to the Covid pandemic (€30 million in Q1 2022, €38 million in Q1 2021)
3. reclassified during Q4 2021 to exclude the contributions from joint venture positions

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AROUNDTOWN

SA |

BOARD

OF

DIRECTORS'

REPORT

BERLIN ALEXANDERPLATZ

Alexanderplatz

Karl-Liebknecht-Straße

24k sqm

Berlin TV Tower

Hackescher Market

Münzstraße & Max-Beer-Straße

2k sqm

Hackescher Market

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