Aroundtown SA Reports Solid H1 2024 Results Amid Improved Market Sentiment

Aroundtown SA released their H1 2024 financial results, showcasing net rental income of €588 million, a slight decrease from €596 million in H1 2023. Despite net disposals, a 2.9% like-for-like rental growth mitigated the decline.

Adjusted EBITDA rose by 1% year-on-year to €502 million, driven by increased operational profitability. However, the revaluation of the portfolio showed a 2.4% decline in value. The FFO I was reported at €154 million, down from €175 million in the same period last year.

The company displayed strong liquidity with a balance of €2.7 billion. Full-year 2024 guidance was slightly increased due to lower finance expenses and solid operational momentum. Aroundtown continues to improve its debt maturity profile through diversified funding sources and robust liability management initiatives.