Brief: Hamborner REIT Revenue And Earnings Growth In first H1 – FFO Forecast Raised For 2023

HAMBORNER REIT AG

10/08/2023 06:06

Aug 10 (Reuters) - HAMBORNER REIT AG  HABAn.DE :
    * REVENUE AND EARNINGS GROWTH IN FIRST HALF-YEAR – FFO
FORECAST
RAISED FOR 2023
    * H1 INCOME FROM RENTS AND LEASES RISES BY 4.3% TO EUR 43.7
MILLION
    * H1 FAIR VALUE OF PROPERTY PORTFOLIO EUR 1.516 BILLION
AFTER
REVALUATION
    * H1 NET ASSET VALUE (NAV) PER SHARE OF EUR 10.58 (DOWN
10.8% YTD)
    * H1 FFO CLIMBS 16.3% YEAR-ON-YEAR TO EUR 28.1 MILLION
    * OUTLOOK: HAMBORNER IS NOW FORECASTING INCOME FROM RENTS
AND
LEASES OF BETWEEN EUR 88.0 MILLION AND EUR 89.0 MILLION FOR 2023
FINANCIAL YEAR (PREVIOUSLY: BETWEEN EUR 88.0 MILLION AND EUR
89.5 MILLION)
    * OUTLOOK: COMPANY IS ASSUMING HIGHER FFO COMPARED TO ITS
ORIGINAL
FORECAST FOR YEAR AS A WHOLE OF BETWEEN EUR 51.0 MILLION AND EUR
53.0 MILLION (PREVIOUSLY: EUR 50.0 MILLION TO EUR 52.0 MILLION)
    * OUTLOOK: COMPANY EXPECTS THAT NAV PER SHARE WILL BE
BETWEEN 7.0%
AND 12.0% LOWER THAN PREVIOUS YEAR'S LEVEL AT END OF 2023 (31
DECEMBER 2022: EUR 11.86)
    * OUTLOOK: CONTRARY TO ORIGINAL ASSUMPTION THAT PROPERTY
TRANSACTION MARKET WOULD PICK UP IN SECOND HALF OF 2023 AND THUS
A FORECAST NET INVESTMENT VOLUME OF AROUND EUR 50 MILLION,
COMPANY NOW EXPECTS THAT MARKET ENVIRONMENT WILL NOT IMPROVE
UNTIL A LATER DATE

Source text for Eikon:  ID:nEQ7lMfpMa 
Further company coverage:  HABAn.DE 

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