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Aedifica NV/SA: 2024 half year financial report

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Please find below Aedifica’s 2024 half year financial report.

Robust operational performance driving strong results above budget

  • EPRA Earnings* amounted to €118.8 million (+8% compared to 30 June 2023), or €2.50/share
  • Rental income increased to €165.8 million (+7% compared to 30 June 2023)
  • 3.2% increase in rental income on a like-for-like basis in the first half of the year
  • Weighted average unexpired lease term of 19 years and occupancy rate of 100%

Real estate portfolio* of over €6 billion as at 30 June 2024

  • 630 healthcare properties for nearly 47,800 end users across 8 countries
  • Investment programme of €261 million in pre-let development projects and acquisitions in progress, of which €101 million remains to be invested. Over the 1st half, 18 projects from the committed pipeline were delivered for a total investment budget of approx. €135 million

Solid balance sheet and strong liquidity

  • 42.0% debt-to-assets ratio as at 30 June 2024
  • €628 million of headroom on committed credit lines to finance CAPEX and liquidity needs
  • BBB investment-grade credit rating with a stable outlook reaffirmed by S&P
  • UK REIT regime will increase the contribution of UK operating cashflows to the Group’s results

Improved outlook for 2024

  • Estimated EPRA Earnings* for the 2024 financial year increased to €231 million (previously €223 million)
  • EPRA Earnings* per share are estimated at €4.85/share (previously €4.70/share)
  • Proposed dividend for the 2024 financial year reconfirmed: €3.90/share (gross)

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