Full Year 2025 Aroundtown SA Earnings Call Transcript
Key Points
- Aroundtown SA (AANNF) announced a share-to-share voluntary tender offer for GCP shares, aiming to increase its stake in Grand City Properties, which is expected to enhance FFO through stable cash flows.
- The company reported a positive like-for-like value growth of 3.1% including CapEx, driven by operational developments, and a 5% increase in EPRA NTA per share compared to December 2024.
- Aroundtown SA (AANNF) plans to resume dividend payments for 2025 after three years, proposing a dividend of EUR0.08 per share, reflecting a payout ratio of around 30% of FFO I.
- The company has a strong liquidity position with EUR4 billion in cash and EUR900 million in unused credit lines, maintaining wide covenant headroom.
- Aroundtown SA (AANNF) has successfully executed capital market transactions, extending its debt maturity profile and enhancing funding diversification, with a BBB rating affirmed by S&P.
- Net rental income remained stable at EUR1.2 billion, with adjusted EBITDA slightly decreasing by 1% compared to 2024, mainly due to higher finance expenses.
- FFO I decreased to EUR288 million from EUR316 million in 2024, primarily due to higher finance expenses and lower contributions from joint ventures.
- The office portfolio faced challenges with a vacancy rate increase to 13%, reflecting broader market headwinds and pressure on occupancy.
- The hotel portfolio experienced a negative like-for-like revaluation of 0.2% for 2025, despite repositioning efforts and CapEx investments.
- The market is facing uncertainties due to geopolitical tensions, such as the war in Iran, which could escalate and impact market stability.
Good afternoon, everybody. Thank you for joining us for Aroundtown's full-year 2025 results call. You can view this presentation on Aroundtown's website, either on the home section or under financial reports of the Investor Relations section.
Guiding you through the presentation today will be CEO, Barak Bar-Hen; CFO, Jonas Tintelnot; Executive Director, Frank Roseen; Chief Capital Markets Officer, Timothy Wright; Chief Sustainability Officer, Limor Bermann; Deputy CEO, Kamaldeep Manaktala; and representatives from Grand City Properties are also present.
(Operator Instructions)
With that, I would like to hand over to Barak and the rest of the team, who will guide you through the presentation of our results.
Good afternoon, and thank you for joining us for our call for year 2025 result presentation.
As you have noticed, we have launched a share-to-share voluntary tender offer for GCP shares and therefore came out earlier with
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
