Aroundtown shares jump after Q1 profit triples

Aroundtown SA

28/05/2025 11:30

** Shares of Aroundtown AT1.DE, one of Germany's largest-listed landlords, jump around 4% on Wednesday after the company posts stable first-quarter funds from operations (FFO I) and as profit triples from same period last year

** Berenberg analysts point out "healthy" like-for-like rental growth, at 3.0% in total for the group in March

** No dividend for 2024 was expected, Jefferies analysts say

** Key real estate company metric FFO I came in at 76.3 million euros ($86.43 million) in Q1 vs. 76.1 million euros the year prior

** "While the first quarter is typically a quieter period in real estate, we think that Aroundtown has had a good operational start to the year," Berenberg analysts say

** "Accordingly, confirmed outlook for FY 2025 with 290 mln euros -310 mln in FFO I look achievable to us," they add

** Shares were up 4.8% to 2.82 euros per share at 1018 GMT

($1 = 0.8828 euros)

(Reporting by Marleen Kaesebier)

((marleen.kaesebier@thomsonreuters.com))