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Aedifica NV/SA: Half year financial report 2022

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Aedifica
Aedifica

Please find below a press release from Aedifica (a public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), regarding the 2022 half year results.


Robust operational performance driving strong results

  • EPRA Earnings* amounted to €85.9 million (+27% compared to 30 June 2021), or €2.36/share

  • Rental income increased to €131.0 million (+21% compared to 30 June 2021)

  • 4.2% increase in rental income on a like-for-like basis in the first six months of the year

  • Weighted average unexpired lease term of 20 years and occupancy rate of 100%

Real estate portfolio* of nearly €5.3 billion as of 30 June 2022

  • Increase of approx. €381 million compared to 31 December 2021 (+8%)

  • 599 healthcare sites for approx. 44,300 users across 8 countries

  • Investment programme of €820 million in pre-let development projects and acquisitions in progress. Over the 1st half, 14 projects were delivered for a total investment budget of approx. €63 million

Reinforcing capital structure and strong liquidity

  • 41.0% debt-to-assets ratio as of 30 June 2022

  • €309 million raised on capital markets through a capital increase via an accelerated private placement (€254 million) and two contributions in kind

  • New long-term bank financing concluded amounting to €421 million, of which €258 million is linked to sustainability KPIs

  • BBB investment-grade credit rating with a stable outlook reaffirmed by S&P

Outlook

  • Estimated EPRA Earnings* for the 2022 financial year slightly increased to €177 million (previously €175 million)

  • Considering the increased numbers of shares following the recent capital increases, the EPRA Earnings* per share are estimated at €4.64/share (previously €4.77/share)

  • The proposed dividend of €3.70/share (gross) is reconfirmed


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