Hamborner Reit starts the new year cautiously - 2023 profit target exceeded
February 08, 2024 at 01:43 am EST
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DUISBURG (dpa-AFX) - Following growth last year, commercial real estate specialist Hamborner Reit is taking a rather cautious view of 2024. In the current year, income from rents and leases is likely to increase and reach EUR 91.0 to 92.5 million. According to an initial estimate, however, less of this will remain in the form of funds from operations (FFO) - the Management Board is forecasting EUR 49 to 50.5 million, as the SDax-listed company announced in Duisburg on Thursday. Even in the best-case scenario, this would be less than in the past two years. Nevertheless, the dividend is set to rise by a good 2 percent to 0.48 euros per share.
Based on key figures, the company, which focuses on offices and retail, generated EUR 91.1 million from rents and leases in the past year after EUR 87.1 million in 2022. Funds from operations (FFO), an important key figure in the real estate sector, rose by 7.2% to EUR 54.7 million. According to the company, the increase in profit was also due to lower maintenance expenses, which were postponed to 2024. With this profit, Hamborner Reit exceeded its own target from November./ngu/mis
Hamborner Reit AG is a Germany-based real estate investment trust (REIT). The Company consists of real estate properties in cities across Germany. The Company focuses on retail space, as well as on specialist stores and office and medical centers. The Company owns real estate in Aachen, Augsburg, Bad Homburg, Bayreuth, Berlin, Bremen, Brunnthal, Celle, Ditzingen, Dortmund, Duisburg, Erlangen, Frankfurt am Main, Freiburg, Freital, Fuerth, Geldern, Giessen, Guetersloh, Hamburg, Herford, Hilden, Ingolstadt, Kaiserlautern, Kalsruhe, Kassel, Koblenz, Krefeld, Cologne, Langenfeld, Leipzig, Lemgo, Leverkusen, Luebeck, Luedenscheid, Lueneburg, Meppen, Minden, Mosbach, Munich, Muenster Neuwied, Oberhause, Offenburg and Oldenburg, among others.