Adler shares jump as it confirms FY rental income forecast

Adler SA

28/05/2024 08:57

** Shares in Adler Group  ADJ.DE  jump 4.2% after the
German-listed real estate company confirms its FY net rental
income outlook
    ** While Q1 net rental income falls 4% to 51 mln euros
($55.5 mln), it still sees annual figure at 200-210 mln euros
    ** Rising interest costs and high restructuring expenses
continue to weigh on net income; Q1 loss widens to 81.1 mln
euros
    ** Adler is fighting a liquidity crisis triggered by the
German property market slowdown
    ** On Monday, its shares soared almost 30% after it reached
a restructuring agreement with its bondholders on Friday,
subject to approval

($1 = 0.9194 euros)

 (Reporting by Marleen Kaesebier)
 ((Marleen.kaesebier@thomsonreuters.com))