Aroundtown SA Reports Stable Performance for 9M 2024

Aroundtown SA has announced its financial results for the first nine months of 2024. The company's net rental income stood at €883 million, a slight decrease of 1% from €895 million in the same period last year. This was mainly due to net disposals, although like-for-like rental growth of 3% helped offset this decline. Adjusted EBITDA increased by 1% to €758 million, highlighting strong operational performance.

Despite these solid earnings, the company reported a net loss of €154 million, primarily influenced by negative property revaluations earlier in the year. However, these operational figures were sufficient for Aroundtown to maintain its full-year guidance at the upper end.

Looking ahead, the balance sheet shows improvements with an LTV ratio of 44% and unencumbered assets representing 72% of total rent. The company successfully disposed assets worth €440 million in 9M 2024.