AROUNDTOWN SA AROUNDTOWN SA
9M 2021 FINANCIAL RESULTS
NOVEMBER 2021
LARGE SCALE WITH A FOCUS ON STRONG ASSET TYPES IN TOP TIER LOCATIONS
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LARGEST LANDLORD | ✓ Top 3 largest listed RE company in Europe with €39bn asset base. | |
✓ Largest office landlord in Berlin, Munich and Frankfurt among listed peers. | ||
| SOLID DIVERSIFICATION | ✓ Strong diversification across several real estate asset classes. |
✓ 45% Offices, 28% Resi*, 18% Hotels, 2% Logistics, 7% Retail. | ||
✓ No dependency on single tenants (Top 10 <20%) or industries. | ||
TOP TIER LOCATIONS | ✓ 85% in Germany and the Netherlands, 7% in London. | |
✓ 66% in German and Dutch top tier cities and London. | ||
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✓ GCP is fully consolidated from 01.07.2021.
STRONGER PLATFORM ✓ Delisting tender offer for TLG with expected delisting in Dec 2021. ✓ JV control stake in GWI obtained (over 60% through JV with CPI).
✓ Disposals of non-coreand mature properties above book value improve
CAPITAL RECYCLING portfolio quality and proceeds are channeled in a leverage neutral way into share buyback and debt repayments.
6 | ESG PROGRESS | ✓ Pilot project in NL portfolio to obtain green building certification. | ||
Knowledge supports implementation in other portfolio locations. | ||||
✓ Pipeline: to equip 1/3 of the total portfolio with energy saving measures. | ||||
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*GCP is fully consolidated. At relative consolidation, the residential portion is 17%. |
9M 2021 FINANCIAL HIGHLIGHTS (GCP IS FULLY CONSOLIDATED AS OF 01.07.2021)
TOP & BOTTOM LINE
€773m
Net rental income (NRI)
+2% YOY
+1.2%LFL excl. hotels
+0.6% LFL incl. hotels
Sep 2021 (GCP is not included)
€267m / €367m
FFO I / FFO I before Covid adjustment
-11%YOY / -1% YOY
Guidance
confirmed
€0.23
FFO I per share
+5% YOY
FINANCIAL DISCIPLINE
€3.3bn
Cash and liquid assets
€23.5bn / 82%of rent
Unencumbered investment properties
39%
Low LTV
BBB+/Stable
Credit rating by S&P,
reaffirmed in Dec 2020
CONSERVATIVE DEBT
PROFILE
€1.6bn
Debtrepayments 2021 YTD, of which €1.1bn bond repayments with avg. 2.2% coupon rate
1.3%
Lower cost of debt
5.8y
Long average debt maturity
2x
Liquidity covering debt maturities in the
next2 years
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Aroundtown SA published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 November 2021 05:49:03 UTC.
