German landlord Aroundtown raises FFO I guidance

Grand City Properties SA

28/08/2024 05:55

Aug 28 (Reuters) - Aroundtown  AT1.DE , one of Germany's
largest listed landlords, on Wednesday raised its full-year
guidance for FFO I, a key profitability measure for real estate
firms, even as it reported a net loss of 330 million euros ($368
million) for the first half of the year.
    The Luxembourg-based firm expects FFO I, its main metric
measuring funds from operations, to come between 290 million and
320 million euros this year, compared to the previous forecast
of 280 million to 310 million euros. Last year, it recorded an
FFO I of 332 million euros.
($1 = 0.8961 euros)

 (Reporting by Marleen Kaesebier in Gdansk; editing by Milla
Nissi)
 ((Marleen.Kaesebier@thomsonreuters.com;
chiara.holzhaeuser@thomsonreuters.com))