Aedifica NV/SA: 2024 half year financial report
Please find below Aedifica’s 2024 half year financial report.
Robust operational performance driving strong results above budget
- EPRA Earnings* amounted to €118.8 million (+8% compared to 30 June 2023), or €2.50/share
- Rental income increased to €165.8 million (+7% compared to 30 June 2023)
- 3.2% increase in rental income on a like-for-like basis in the first half of the year
- Weighted average unexpired lease term of 19 years and occupancy rate of 100%
Real estate portfolio* of over €6 billion as at 30 June 2024
- 630 healthcare properties for nearly 47,800 end users across 8 countries
- Investment programme of €261 million in pre-let development projects and acquisitions in progress, of which €101 million remains to be invested. Over the 1st half, 18 projects from the committed pipeline were delivered for a total investment budget of approx. €135 million
Solid balance sheet and strong liquidity
- 42.0% debt-to-assets ratio as at 30 June 2024
- €628 million of headroom on committed credit lines to finance CAPEX and liquidity needs
- BBB investment-grade credit rating with a stable outlook reaffirmed by S&P
- UK REIT regime will increase the contribution of UK operating cashflows to the Group’s results
Improved outlook for 2024
- Estimated EPRA Earnings* for the 2024 financial year increased to €231 million (previously €223 million)
- EPRA Earnings* per share are estimated at €4.85/share (previously €4.70/share)
- Proposed dividend for the 2024 financial year reconfirmed: €3.90/share (gross)
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