Branicks Group AG Reports Operational Strength and Debt Reduction in H1 2024

Frankfurt am Main, August 27, 2024: Branicks Group AG, listed among Germany's leading real estate companies, has significantly advanced in its consolidation efforts during the first half of 2024. The company reduced its bridge financing to EUR 40 million and confirmed its annual forecast.

The company actively engaged in property transactions, completing 15 sales, and maintained a robust rental business, generating net rental income of EUR 77.1 million. Like-for-like rental growth reached 2%. Funds from operations stood at EUR 19.4 million, while assets under management were valued at EUR 12.5 billion.

CEO Sonja Wärntges emphasized the importance of these milestones, highlighting the impact on market positioning and debt reduction. Net interest income continued to be negative but saw some easing due to reduced debt.

Despite a slight increase in the loan-to-value ratio to 61.5%, the company expects further reductions in the second half of the year. The forecast for 2024 remains confirmed, with anticipated transactions totaling EUR 0.8 to 1.2 billion across all segments.