Brief: Patrizia 9-Month EBITDA Down 17.2% At EUR 78.8 Mln

Patrizia SE

09/11/2022 17:19

Nov 9 (Reuters) - PATRIZIA SE  PATGn.DE :
    * WEAKER MARKETS IMPACT PATRIZIA’S 9M 2022 EBITDA: AUM AND
RECURRING MANAGEMENT FEES STILL GROWING BUT FY 2022 GUIDANCE
ADJUSTED
    * SAYS AUM INCREASED 17.4% Y-T-D TO EUR 57.1BN AS AT 30
SEPTEMBER
2022 (31 DECEMBER 2021: EUR 48.6BN)
    * 9-MONTH  EBITDA OF EUR 78.8M (-17.2% Y-O-Y) IN A WEAKENING
MARKET ENVIRONMENT
    * GUIDANCE 2022 ADJUSTED TO EBITDA OF EUR 70.0 - 85.0M
BEFORE
REORGANISATION EXPENSES, AND EBITDA OF EUR 60.0 - 75.0M,
INCLUDING REORGANISATION EXPENSES
    * AUM INCREASED 17.4% Y-T-D TO EUR 57.1BN AS AT 30 SEPTEMBER
2022
(31 DECEMBER 2021: EUR 48.6BN)
    * NET SALES REVENUES AND CO-INVESTMENT INCOME INCREASED BY
16.4%
Y-O-Y TO EUR 7.9M,
    * EBITDA FOR FIRST NINE MONTHS OF 2022 AMOUNTED TO EUR
78.8M,
WHICH CORRESPONDS TO A DECREASE OF 17.2% COMPARED TO SAME PERIOD
OF PREVIOUS YEAR
    * PATRIZIA NOW EXPECTS AN EBITDA RANGE BEFORE REORGANISATION
EXPENSES (EBITDAR) OF EUR 70.0 - 85.0M FOR FY 2022 AND AN EBITDA
RANGE OF EUR 60.0 - 75.0M, INCLUDING SUCH ONE-OFF EXPENSES
    * DUE TO DELAYED INVESTMENTS, GUIDANCE FOR GROWTH IN ASSETS
UNDER
MANAGEMENT AND FOR MANAGEMENT FEES FOR FY 2022 HAS TO BE
ADJUSTED AS WELL, ALBEIT TO A RELATIVELY LOW DEGREE
    * COMPANY HAS TO ADJUST ITS GUIDANCE FOR FINANCIAL YEAR 2022
IN
FURTHER REVENUE AND COST POSITIONS, LATTER PRIMARILY DRIVEN BY
ONE-OFF ITEMS

Source text for Eikon:  ID:nEQ5bk75Ga 
Further company coverage:  PATGn.DE 
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