Brief: Patrizia Q1 EBITDA Up 2.9% To EUR 27.2 Mln

Patrizia SE

11/05/2023 15:29

May 11 (Reuters) - PATRIZIA SE  PATGn.DE :
    * PATRIZIA 3M 2023 FINANCIAL RESULTS: SOLID EBITDA GROWTH
DRIVEN
BY CONTINUED INCREASE IN MANAGEMENT FEES AND LOWER NET OPERATING
EXPENSES
    * EBITDA OF EUR 27.2M UP 2.9% Y-O-Y DESPITE SUBDUED MARKET
ENVIRONMENT
    * Q1 STRONG GROWTH IN RECURRING MANAGEMENT FEES TO EUR 62.2M
(UP
13.8% Y-O-Y), WHILE NET OPERATING EXPENSES DECLINED 5.2% Y-O-Y
    * FINANCIAL GUIDANCE FOR FY 2023 CONFIRMED
    * OPERATING EXPENSES (GROSS) DECLINED BY 2.1% TO EUR 61.5M
IN 3M
2023
    * NET OPERATING EXPENSES DECLINED 5.2% Y-O-Y TO EUR 58.2M
    * NET SALES REVENUES AND CO-INVESTMENT INCOME DECLINED 66.1%
Y-O-Y
TO EUR 1.7M, FULLY IN LINE WITH BUDGET AND STRATEGY
    * PROPOSES A DIVIDEND PER SHARE OF EUR 0.33 FOR FY 2022
    * SHARES ARE EXPECTED TO TRADE EX-DIVIDEND ON 26 MAY 2023
AND
DIVIDEND TO BE PAID ON 30 MAY 2023
    * ASSETS UNDER MANAGEMENT (AUM) OF EUR 58.1BN INCREASED 4.9%
COMPARED TO 3M 2022 (EUR 55.3BN)

Source text for Eikon:  ID:nEQ5F3JvWa 
Further company coverage:  PATGn.DE 

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