Dal forum tedesco
heute Morgen kamen die Zahlen für 2023:
https://www.eqs-news.com/de/news/corpor ... ns/2023111
Kommentar eines Brokers zu den Zahlen:
Aroundtown ... steady operating performance, while de-leveraging contains LTV impact of value declines.
Aroundtown published its full year 2023 results with a net loss of €2.4bn, driven by valuation losses equating to 11% of the total portfolio value at the beginning of the year, of which 5% was booked in 2H24. On the other hand, Aroundtown said it completed €1.2bn of disposals during the year and raised new bank debt of c.€1bn, allowing it to maintain strong liquidity at €3bn and repurchase €1.3bn shorter-term bonds at a discount. In combination the de-leveraging efforts contained the group's LTV increase to 3ppts to 43% (not including hybrids).
The group's operating performance remained steady, with Net rental income of €1.2bn a 3.2% like-for-like increase, stable adjusted EBITDA of €1bn, and funds from operations I (FFO I) of €332mn, down 8% y/y, but at the higher end of the group's guidance range. The interest cover ratio also remained solid at 4.2x for 2023.
Aroundtown cancelled its equity dividend for 2023, saying that it is prioritising strong liquidity at this point in the cycle, although we didn't see anything to suggest that hybrid coupons will also be deferred. We think the group's conservative approach to liquidity is positive for creditors at this time, and we think to the extent Aroundtown can sell assets and raise additional bank funding going forward the group might tender for more bonds and eventually start to call its hybrids again, although especially the hybrids will likely need more time.
Ich habe den Anstieg der Kurse bei den Perps (immerhin vom Tief fast verdoppelt) für einen Teilverkauf (ich habe den GBP Perp A2R336, Verkauf war letzte Woche) genutzt. OTC Nachfrage war sehr hoch, die Gegenpartei war auf der Suche nach weiteren Stücken.
live.euronext.com
