Brief: Grand City Properties Raises FY Guidance After Higher H1 Earnings

Grand City Properties SA

14/08/2024 05:53

Aug 14 (Reuters) - Grand City Properties SA  GYC.DE :
    * NET RENTAL INCOME OF EUR 212 MILLION IN H1 2024, HIGHER BY
3% AS
COMPARED TO EUR 204 MILLION IN H1 2023
    * ADJUSTED EBITDA OF EUR 166 MILLION IN H1 2024, HIGHER BY
4% AS
COMPARED TO EUR 160 MILLION IN H1 2023
    * FY 2024 GUIDANCE INCREASED
    * FFO I OF EUR 94 MILLION AND EUR 0.54 PER SHARE IN H1 2024,
STABLE AS COMPARED TO H1 2023
    * NET LOSS OF EUR 74 MILLION AND BASIC LOSS PER SHARE OF EUR
0.38,
DRIVEN MAINLY BY NEGATIVE PROPERTY REVALUATIONS RECOGNIZED IN
PERIOD, PARTIALLY OFFSET BY STRONG OPERATIONAL RESULTS
    * INCREASED FY 2024 FFO GUIDANCE FROM EUR 175-EUR 185
MILLION TO
EUR 180-EUR 190 MILLION
    * H1 DISPOSALS TOTALLING CA. EUR 220 MILLION OF WHICH CA EUR
100
MILLION WERE NOT CLOSED IN H1 2024

Source text for Eikon:  ID:nEQlvQLwa 
Further company coverage:  GYC.DE 

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