Shares rise above €3 on optimistic outlook

Aroundtown shares have witnessed a significant breakout, crossing the crucial $3 threshold on the back of optimistic forecasts for the upcoming fiscal year. The real estate company has upgraded its outlook and expects its Funds From Operations (FFO 1) to reach the top end of €290-320 million in 2024. This positive momentum is further reinforced by the company’s impressive financial performance in its early years. nine months of 2023, during which it significantly reduced its losses to €154 million, from €1.4 billion in the previous year. The lack of additional depreciation on real estate in particular has strengthened investor confidence.

Operational performance highlights

Despite a lightly contracted portfolio, Aroundtown has maintained robust operating metrics. The company recorded rental income of €883 million, which represents only a marginal decrease of 1% compared to the previous year. This stability was supported by notable like-for-like rental growth of 3%, which helped offset the impact of net sales. Adjusted EBITDA showed resilience with an increase of 1% to €758 million, while operating costs decreased from €496.2 million to €412.3 million, further strengthening the company’s financial position.

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Aroundtown Stock: New Analysis – November 27

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