Aedifica NV/SA: Interim financial report – 3rd quarter 2023
Please find below Aedifica’s interim financial report for the 3rd quarter of the 2023 financial year.
Robust operational performance driving strong results ahead of budget
- EPRA Earnings* amounted to €167.3 million (+24% compared to 30 Sept. 2022) or €3.95/share
- Rental income increased to €233.5 million (+17% compared to 30 Sept. 2022)
Real estate portfolio* of more than €5.8 billion as at 30 September 2023
- 611 healthcare properties for approx. 46,800 end users across 8 countries
- Investment programme of €513 million in pre-let development projects and acquisitions in progress, of which €318 million remains to be invested. Over the 3rd quarter, 7 projects from the committed pipeline were delivered for a total investment budget of approx. €91 million
Solid balance sheet and strong liquidity
- 39.7% debt-to-assets ratio as at 30 September 2023
- €445 million in bank financing contracted in 2023
- €929 million of headroom on committed credit lines
- BBB investment-grade credit rating with a stable outlook reaffirmed by S&P
Updated outlook for 2023
- Estimated EPRA Earnings* per share for the full 2023 financial year are increased to at least €4.95/share (previously €4.85/share), including a €0.21/share one-off EPRA result following the obtention of the FBI regime for the Dutch subsidaries
- The total dividend guidance of €3.80/share (gross) is reconfirmed
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