German landlord Aroundtown returns to profit in Q1, but FFO I falls

Aroundtown SA

29/05/2024 05:48

May 29 (Reuters) - Aroundtown  AT1.DE , one of Germany's
largest listed landlords, on Wednesday reported a return to
profit in the first quarter, but its FFO I fell as the country
still struggles with the worst property crisis in decades.
    The profit came at 102.3 million euros ($110.95 million),
compared with a loss of 21.6 million euros in the same period a
year ago. 
    Meanwhile, FFO I fell by 10% to 76.1 million euros from 84.6
million euros in the first quarter last year.
    The Luxembourg-based company also confirmed its full year
guidance for 2024.


($1 = 0.9220 euros)

 (Reporting by Marleen Kaesebier, editing by Andrey Sychev)
 ((Marleen.Kaesebier@thomsonreuters.com;
chiara.holzhaeuser@thomsonreuters.com))