Corrected: Aroundtown posts first annual profit in two years

Aroundtown SA

26/03/2025 05:51

Corrects paragraph 2 to say 2023 loss was 2.43 billion euros, not 2.44 billion euros

March 26 (Reuters) - Aroundtown AT1.DE, one of Germany's largest listed landlords, posted a profit of 309.3 million euros ($333.6 million) for 2024 on Wednesday, in a sign of improvement at a time when Berlin's borrow-to-spend splurge drives up borrowing costs for embattled property companies.

The profit comes after two consecutive years of losses, including that of 2.43 billion euros in 2023, even as the industry continues to struggle with Germany's worst real estate crisis in decades.

($1 = 0.9272 euros)

 (Reporting by Marleen Kaesebier in Gdansk, editing by Milla Nissi)

 ((Marleen.Kaesebier@thomsonreuters.com))