AED Aedifica SA

Aedifica NV/SA: Interim financial report – Q1 2024

Aedifica NV/SA: Interim financial report – Q1 2024

Please find below Aedifica’s interim financial report for the 1st quarter of the 2024 financial year.

Robust operational performance driving strong results ahead of budget

  • EPRA Earnings* amounted to €59.8 million (+8% compared to 31 March 2023), or €1.26/share
  • Rental income increased to €82.0 million (+8% compared to 31 March 2023)
  • 3.3% increase in rental income on a like-for-like basis in the 1st quarter of the year

Real estate portfolio* of nearly €6 billion as at 31 March 2024

  • 623 healthcare properties for more than 47,300 end users across 8 countries
  • Investment programme of €343 million in pre-let development projects and acquisitions in progress, of which €193 million remains to be invested. Over the 1st quarter, 10 projects from the committed pipeline were delivered for a total investment budget of approx. €74 million

Solid balance sheet and strong liquidity

  • 39.6% debt-to-assets ratio as at 31 March 2024
  • €868 million of headroom on committed credit lines
  • BBB investment-grade credit rating with a stable outlook (by S&P)
  • UK REIT regime will increase the contribution of UK operating cashflows to the Group’s results

Outlook for 2024 on track

  • EPRA Earnings* for 2024 are estimated at €223 million, or €4.70/share
  • Proposed dividend for the 2024 financial year: €3.90/share (gross)

Attachments



EN
02/05/2024

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Reports on Aedifica SA

Francesca Ferragina
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The year has started well with a top line organic growth of 3.3% and bottom line EPRA earnings increase of 8% in 1Q. LTV is safe at 39.6% (we would not be surprised to see the company finalising an acquisition). Aedifica stated that these results were a bit ahead of its internal budget and we confirm our current estimates, which are in line with latest guidance. What we like most about this set of results is the small positive LFL revaluation of the portfolio, positive for the first time in five...

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ODDO BHF Small & MIDCAP MORNING NEWS - 02/05/2024

Nous sortons GALP de notre liste ODDO BHF European Large Caps. La valeur a réalisé une performance de +31,3% depuis son entrée le 20 mars dernier. Notre analyste adopte ce jour une opinion Neutre (vs Surperformance) sur la valeur qui a atteint notre objectif de cours. - ...

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FIE FIELMANN AG
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Gerardo Ibanez ... (+2)
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Aedifica SA : Q1 2024 results: Stable fair values after five quarters ...

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05/02/24 May 2, 2024 1 EN
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