on Aroundtown S.A. (isin : LU1673108939)
Aroundtown Reports 9M 2024 Results with Solid Financial Performance
Aroundtown SA announced its results for the first nine months of 2024, showcasing a stable financial performance. Net rental income reached €883 million, a slight decline of 1% from 2023, due to net disposals, though offset by a 3% growth in like-for-like rental income. Adjusted EBITDA experienced a modest increase of 1% to €758 million.
The company reported a net loss of €154 million, mainly owing to property revaluations in early 2024. FFO I dropped to €236 million, with FFO I per share at €0.22. The firm aims for the upper end of its full-year 2024 FFO guidance, estimated between €290-€320 million.
Aroundtown bolstered its balance sheet by issuing €1.15 billion in senior unsecured bonds and conducting significant disposals. With an unencumbered assets ratio of 72% and LTV at 44%, the company maintains a robust financial position heading towards the end of 2024.
R. P.
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