Brief: Hamborner REIT Says FY FFO Up 7.2%, Devalues Portfolio

HAMBORNER REIT AG

08/02/2024 06:05

Feb 8 (Reuters) - Hamborner REIT AG  HABAn.DE :
    * PRELIMINARY FIGURES CONFIRM SUCCESSFUL BUSINESS
PERFORMANCE WITH
REVENUE AND EARNINGS GROWTH IN 2023 – INCREASED DIVIDEND
PROPOSAL – PRESENTATION OF DECARBONISATION STRATEGY
    * FY INCOME FROM RENTS AND LEASES RISES BY 4.6% TO EUR 91.1
MILLION
    * FY FFO INCREASE OF 7.2% TO EUR 54.7 MILLION
    * FULL-YEAR FORECAST FOR 2024 ASSUMES FURTHER REVENUE GROWTH
AND
DECLINING FFO
    * DIVIDEND PROPOSAL RAISES BY 2.1% YEAR-ON-YEAR TO EUR 0.48
PER
SHARE
    * INCOME FROM RENTS AND LEASES: EUR 91.0 MILLION TO EUR 92.5
MILLION FOR 2024
    * FAIR VALUE OF PROPERTY PORTFOLIO AT EUR 1.471 BILLION
AFTER
YEAR-END REVALUATION
    * FUNDS FROM OPERATIONS (FFO): EUR 49.0 MILLION TO EUR 50.5
MILLION FOR 2024
    * OUTLOOK 2024: INCOME FROM RENTS AND LEASES WILL BE
POSITIVELY
INFLUENCED BY ACQUISITIONS MADE IN 2023 FINANCIAL YEAR AND BY
FURTHER INDEX-BASED RENT INCREASES AS A RESULT OF HIGHER
INFLATION
    * PORTFOLIO VALUATION WAS CARRIED OUT BY AN EXTERNAL
APPRAISER AND
RESULTED IN 4.7% DECLINE
    * ON A FULL-YEAR BASIS TOTAL PORTFOLIO VALUE DECREASED BY
10.5%
(LIKE-FOR-LIKE)
    * OUTLOOK 2024: FUNDS FROM OPERATIONS (FFO) WILL CONTINUE TO
BE
INFLUENCED BY UNCERTAINTIES ON LETTING MARKET

Source text for Eikon:  ID:nEQ8qQMv6a 
Further company coverage:  HABAn.DE 

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