Brief: Branicks 9M FFO After Non-Controlling Interests At EUR 33.1 Mln

BRANICKS AG

08/11/2023 06:35

Nov 8 (Reuters) - BRANICKS GROUP AG  BRNKn.DE :
    * REVIEW OF THE 3RD QUARTER AND OUTLOOK
    * FULL-YEAR FORECAST REAFFIRMED - FFO BETWEEN EUR 50 AND 55
MILLION
    * BOND REPAID ON SCHEDULE AT MATURITY
    * BRANICKS EARNED EUR 33.1 MILLION IN FUNDS FROM OPERATIONS
(FFO)
AFTER NON-CONTROLLING INTERESTS (PREVIOUS YEAR: EUR 76.1
MILLION) BY END OF NINE-MONTH PERIOD
    * 9M NET RENTAL INCOME WENT UP TO EUR 125.8 MILLION
(PREVIOUS
YEAR: EUR 108.8 MILLION)
    * 9M GROSS RENTAL INCOME INCREASED SIGNIFICANTLY OVER
PRIOR-YEAR
PERIOD AS IT ROSE TO EUR 142.9 MILLION (PREVIOUS YEAR: EUR 124.9
MILLION)
    * 9M NET INTEREST INCOME DROPPED TO EUR -68.8 MILLION
(PREVIOUS
YEAR: EUR -41.6 MILLION), PRIMARILY DUE TO FIRST-TIME
RECOGNITION OF VIB DEBT, DUE TO FUNDING ACTIVITIES DURING
PREVIOUS YEAR AND DUE TO VIB BRIDGE LOAN
    * 9M SHARE OF PROFIT OR LOSS OF ASSOCIATES DECLINED AS
EXPECTED,
REFLECTING A TRANSACTION-RELATED DROP IN PROFITS FROM ASSOCIATES
OVER PRIOR-YEAR PERIOD DOWN TO EUR 4.5 MILLION (PREVIOUS YEAR:
EUR 18.0 MILLION)

Source text for Eikon:  ID:nEQ3WNB3Ga 
Further company coverage:  BRNKn.DE 

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