DGAP-News: Aroundtown SA / Key word(s): Real Estate/Annual Results
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS
AROUNDTOWN ANNOUNCES FY 2018 RESULTS: HIGH OPERATIONAL PROFITABILITY AND STRONG VALUE CREATION
- Net rental income of EUR633 million, improved by 41% from EUR449 million recorded in 2017
- Adjusted EBITDA of EUR606 million, an increase of 41% compared to the EUR429.3 million recorded in 2017
- FFO I growing 38% YOY to EUR405.7 million, from EUR293 million in 2017
- FFO I per share of EUR0.39, up from EUR0.36 in 2017. FFO I per share after perpetual attribution increased to EUR0.34
- FFO II amounted to EUR575 million, 69% higher than in 2017, due to disposals over EUR740 million
- Dividend per share of EUR0.25, up 9% from 2017 (subject to next AGM approval), reflecting a dividend yield of 3.2%
- Net profit amounted to EUR1.8 billion during the period, increasing 19% in comparison to 2017. Diluted EPS increased 10% to EUR1.49, from EUR1.35 in 2017
- EPRA NAV at EUR8.7 billion, +35% from December 2017, EUR7.7 on a per share basis, growing +22% YOY (+18% excluding dividend adjustment)
- EPRA NAV incl. perpetual notes expanded to EUR10.3 billion (+34% from 2017) and EUR9.1 per share
- Total Equity growing 37% to EUR9.9 billion; with a consistently strong equity ratio of 52%.
- Investment property increased to EUR14.2 billion, up 45% as compared to EUR9.8 billion as at year-end 2017
- Strong capital structure with a low LTV at 35% as of December 2018
- Robust credit profile with an ICR of 4.7x, long average debt maturity of 7.4 years and cost of debt of 1.8% and high unencumbered assets ratio of 72% (EUR10.2 billion in value)
- Strong like-for-like results with a total net rent LFL growth of 4.8%, of which 2.6% is attributable to in-place rent increases and 2.2% to occupancy increases
28 March 2019.
High quality portfolio centrally located in top tier European metropolises
Corporate milestones and achievements highlight non-financial growth
The financial statements for FY 2018 are available on the Company's website:
For definitions and reconciliations of the Alternative Performance Measures, please see the relevant sections in the pages 76-80 of the FY 2018 financial statements. You can find the financial statements in AT's website under Investor Relations > Publications > Financial Reports or under this link:
About the Company
Aroundtown SA (ISIN: LU1673108939) is a public limited liability company (société anonyme) established under the laws of the Grand Duchy of Luxembourg, registered with the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés, Luxembourg) under number B217868, having its registered office at 1, Avenue du Bois, L-1251 Luxembourg, Grand Duchy of Luxembourg.
T: +352 285 7741
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES.
THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES.
THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE UNITED KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE ORDER), (II) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER, AND (III) PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS RELEVANT PERSONS). THIS COMMUNICATION MUST NOT BE READ, ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS.
IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (EEA), THIS ANNOUNCEMENT AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE "QUALIFIED INVESTORS" WITHIN THE MEANING OF ARTICLE 2(1)(E) OF DIRECTIVE 2003/71/EC, AS AMENDED (THE PROSPECTUS DIRECTIVE) (QUALIFIED INVESTORS). ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER (AN INVESTOR) OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE DEEMED TO HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY INVESTOR WILL ALSO BE DEEMED TO HAVE REPRESENTED AND AGREED THAT ANY SECURITIES ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF PERSONS IN THE EEA OTHER THAN QUALIFIED INVESTORS, NOR HAVE THE SECURITIES BEEN ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS WHERE THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY AROUNDTOWN OR ANY OF THE MANAGERS OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE.
THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS AND OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS, OR SERVICES, FUTURE FINANCIAL RESULTS, OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH STATEMENTS, EACH OF WHICH CONSTITUTES A FORWARD-LOOKING STATEMENT SUBJECT TO RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND THE CONTROL OF AROUNDTOWN SA. ACTUAL RESULTS COULD DIFFER MATERIALLY, DEPENDING ON A NUMBER OF FACTORS.
|1, Avenue du Bois|
|Phone:||+352 285 7741|
|ISIN:||LU1673108939, XS1227093611, XS1336607715, XS1403685636, XS1449707055, XS1532877757, XS1540071724, XS1586386739, XS1649193403, XS1700429308, XS1715306012, XS1761721262, XS1815135352, XS1753814141, CH0398677689, XS1857310814|
|WKN:||A2DW8Z, A1Z07A, A18V71, A180VY, A1839S, A1899S, A19LQR, A19QUX, A19Q3W, A19VK9, A19Z76, A19U7Q|
|Indices:||MDAX, STOXX Europe 600, FTSE EPRA/NAREIT, GPR 250|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Stuttgart; Dublin, Luxembourg Stock Exchange, SIX|
|EQS News ID:||792801|
|End of News||DGAP News Service|