Hamburg

AROUNDTOWN S A

INTERIM

CONSOLIDATED REPORT

For the nine-month period ended September 30, 2021

Frankfurt

Büro Center (FBC)

Mainzer Landstraße

43k sqm

Frankfurt Stadtmitte

Intercontinental Frankfurt

Bleichstraße

Wilhelm-Leuschner Strasse

9k sqm

28k sqm

FRANKFURT:

MAIN CENTRAL TRAIN STATION & CENTRAL BUSINESS DISTRICT

AT HAS APPROX. 200,000 SQM

LETTABLE SPACE IN

FRANKFURT'S PRIME CENTER

Frankfurt HBF

Frankfurt Office Campus

Stuttgarter Straße

Gutleutstraße

9k sqm

88k sqm

Banking District

Frankfurt Hauptbahnhof

(Central Train Station)

Frankfurt HBF

Hafenstraße

20k sqm

Frankfurt

CONTENT

BOARD OF DIRECTORS´REPORT

THE BUSINESS & OPERATIONS

2 Key Financials

  1. The Company
  2. Key Achievements

8 Aroundtown's Quality Portfolio

20 Capital Markets

MANAGEMENT DISCUSSION AND ANALYSIS

22 Notes on Business Performance

42 Alternative Performance Measures

DISCLAIMER

47 Responsibility Statement & Disclaimer

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

INTERIM CONSOLIDATED FINANCIAL STATEMENTS

  1. Interim consolidated statement of profit or loss
  2. Interim consolidated statement of other comprehensive income
  3. Interim consolidated statement of financial position

52 Interim consolidated statement of changes in equity

54 Interim consolidated statement of cash flows

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

56 Notes to the interim consolidated financial statements

MANAGEMENT DISCUSSION

DISCLAIMER

THE BUSINESS & OPERATIONS

AND ANALYSIS

FINANCIAL POSITION

HIGHLIGHTS

in € millions unless otherwise indicated

Sep 2021 1)

Dec 2020

Dec 2019

Total Assets

39,399.5

31,021.6

25,444.7

Total Equity

19,162.0

15,583.0

13,378.9

Investment property

28,975.9

21,172.4

18,127.0

Investment property of assets held for sale

1,594.8

830.2

202.4

Cash and liquid assets 2)

3,272.0

3,262.7

3,043.8

Total financial debt

15,683.7

11,860.9

10,028.3

Unencumbered assets ratio 3)

82%

76%

81%

Equity Ratio

49%

50%

53%

Loan-to-Value

39%

34%

34%

1) GCP is consolidated as of July 1, 2021

2) including cash and liquid assets under held for sale

3) by rent

NET ASSET VALUE

in € millions unless otherwise indicated

EPRA NRV

EPRA NTA

EPRA NDV

Sep 2021

12,933.7

11,421.0

8,307.4

Sep 2021 per share (in €)

11.2

9.8

7.2

Per share growth (dividend adjusted)

3%

5%

5%

Per share growth

1%

3%

1%

Dec 2020

13,093.9

11,187.4

8,354.9

Dec 2020 per share (in €)

11.1

9.5

7.1

KEY FINANCIALS

in € millions unless otherwise indicated

1-9/20211)

Change

1-9/2020

Revenue

935.8

5%

890.4

Net rental income

773.0

2%

758.4

Adjusted EBITDA 2)

716.2

(1%)

722.5

FFO I before Covid adjustment 2)

366.9

(1%)

371.4

FFO I per share before Covid adjustment 2)

0.31

11%

0.28

FFO I 2) 3) 4)

266.9

(11%)

301.4

FFO I per share (in €) 2) 3) 4)

0.23

5%

0.22

FFO II 3) 5)

650.1

12%

581.4

ICR

5.1x

0.7x

4.4x

Profit for the period

649.6

(20%)

811.8

EPS (basic) (in €)

0.40

(9%)

0.44

EPS (diluted) (in €)

0.39

(11%)

0.44

  1. GCP results are consolidated starting from July 1, 2021
  2. including AT's share in companies which AT has significant influence, excluding the contributions from assets held for sale
  3. including extraordinary expenses for uncollected rent due to the Covid pandemic (€100 million in 9M 2021, €70 million in 9M 2020)
  4. previously defined as FFO I (per share) after perpetual, Covid adjusted
  5. reclassified in Q4 2020 to be based on FFO I (previously defined as FFO I after perpetual, Covid adjusted)

2 | AROUNDTOWN SA | Board of Directors' Report

MANAGEMENT DISCUSSION

DISCLAIMER

THE BUSINESS & OPERATIONS

AND ANALYSIS

Alexanderplatz

Karl-Liebknecht-Straße

24k sqm

Berlin TV Tower

Hackescher Market

Münzstraße & Max-Beer-Straße

2k sqm

Hackescher Market

Dircksenstrasse

9k sqm

Alexanderplatz

Alexanderplatz

Karl-Liebknecht-Straße

34k sqm

Alexanderplatz

BERLIN

Karl-Liebknecht-Straße

ALEXANDERPLATZ

6k sqm

Alexanderplatz

AT HAS OVER 140,000 SQM

Alexanderstraße

LETTABLE SPACE IN

55k sqm

THE PRIME COMMERCIAL

AND TOURIST CENTER

ALEXANDERPLATZ

Alexanderplatz

Bernhard-Weiß-Straße

2k sqm

Alexanderplatz

Train Station

Alexanderplatz

Rathausstraße

11k sqm

Berlin

AROUNDTOWN SA | Board of Directors' Report | 3

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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.