DGAP-News: alstria office REIT-AG / Key word(s): Annual results

alstria office REIT-AG: Result for the financial year 2021

01.03.2022 / 17:40
The issuer is solely responsible for the content of this announcement.

Press release

Result for the 2021 financial year

  • Turnover of 183.7 million euros and FFO of 116.5 million euros
  • EPRA NTA per share up 3.4% to EUR 18.97
  • 155,000 m² of rental volume, contractual rent of EUR 204.6 million
  • Renovation pipeline increased to 20 projects

Hamburg, March 1, 2022 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) announces its results for the 2021 financial year.

Turnover at 183.7 million euros and FFO at 116.5 million euros
In 2021, Alstrie generated revenues of €183.7 million (forecast: €181 million, previous year: €177.1 million). The increase in income compared to 2020 is mainly due to additional rental income from the acquisition of properties and a stronger than expected rental performance.
The FFO (after minority interests) amounts to 116.5 million euros (orientation: 115 million euros, previous year: 108.7 million euros).

Revaluation of 94.8 million euros
The 2021 valuation process for the overall portfolio resulted in a total increase of €94.8 million (net of CAPEX and acquisitions). Based on the ongoing CAPEX program and the corresponding valuation increase, the value of Alstria’s property portfolio increased by 3.5% on a like-for-like basis. It amounted to 4,881 million euros at December 31, 2021.

Real estate transactions
In addition to the previously announced disposal of a nursing home in Trier, the company sold two additional assets in the fourth quarter of 2021. With these sales for a total amount of 72.1 million euros, the overall disposal volume amounts to 96.9 million euros.
In parallel, alstria continued to invest in value-added opportunities and acquired two buildings located in Frankfurt and Berlin for a combined total cost of €86.1 million.

Increase of the EPRA NTA to EUR 18.97 per share
Consolidated net income brought Alstria’s IFRS equity to €3,367 million, an increase of €115 million (+3.5%) after payment of €94.2 million in dividend (0 .53 euros per share). EPRA NTA amounted to EUR 18.97 per share, up 3.5% year-on-year (31 December 2020: EUR 18.34 per share). Alstrie’s net LTV increased slightly to 28.8% (2020: 27.0%), and net debt to EBITDA was 9.9x. alstrie’s G-REIT equity ratio was 69.1%.

The renovation pipeline has almost doubled
alstria’s current renovation pipeline comprises 20 projects, an increase of 11 projects since last year, with a total lettable area of ​​343,000 m². With 24% of the total portfolio, the renovation portfolio almost doubled compared to the previous year.

Publication of the 2021 carbon accounting report
Alstrie believes that climate change is the most important risk it will face in the years to come. As part of its efforts to better understand and communicate the challenge and opportunities associated with climate change, it has developed a carbon accounting framework (RECAP) in which it reports annually. This framework not only introduces an internal carbon price for the company, but allows it to build a complete carbon profit and loss account and a carbon balance sheet. The sharing of this information aims to improve the dialogue between Alstrie and its stakeholders.
The full carbon accounting report (unaudited) is available on alstria’s website (www.alstria.com/investor).

Revised dividend policy
alstria will propose to its general meeting the payment of a dividend of EUR 0.04 per share, which corresponds to the minimum dividend payment required by law (2021: EUR 0.53 per share).

“More than two years after the start of the pandemic, alstria is still posting solid results demonstrating its resilience,” said Olivier Elamine, CEO of alstria. “Alstria remains committed to our purpose and our strengths. This year, we have almost doubled our development pipeline and will redevelop more offices than ever before into ESG-compliant buildings. These offices will become, even more than in the past, bespoke and will provide tenants with the added value they are looking for to achieve their goals.”

Invitation to the March 2, 2022 conference call
alstria’s management committee, CEO Olivier Elamine and CFO Alexander Dexne, will present the 2021 financial results and the outlook for 2022 during a conference call at 2:00 p.m. (CET), which will also be broadcast on the alstria website. alstria (www.alstria.com). The full annual report (corporate report and audited financial statements) will also be available for download on the website.

Please use one of the following phone numbers:
Germany: +49 69 2017 44 220
UK: +44 20 3009 2470
PIN: 131 283 51#

alstria office REIT-AG
Steinstr. 7
20095 Hamburg

Investor Relations
Julius Stinauer
Phone. : +49 40 22 63 41-344
Email: [email protected]

press contact
Philippe Angrabeit
Phone. : +49 40 22 63 41-389
Email: [email protected]

Further information

About Austria
alstria office REIT AG is the leading real estate operator focusing solely on German office real estate in selected German markets. Our strategy is based on ownership and active management of our assets throughout their life cycle, high value-added services for our customers and in-depth knowledge of the markets in which we operate. alstria strives to create sustainable long-term value while taking advantage of the short-term arbitrage of property market inefficiencies. As of December 31, 2021, the portfolio comprises 112 buildings with a leasable area of ​​1.4 million square meters and a total portfolio value of 4.9 billion euros.

This press release does not constitute an offer to sell or a solicitation of an offer to buy shares. To the extent that this press release contains forward-looking statements concerning the business, financial condition and results of operations of alstria office REIT-AG (alstria), such statements are based on the current expectations or beliefs of the management of alstria. These forward-looking statements are subject to a number of risks and uncertainties that could cause the Company’s actual results or performance to differ materially from those reflected in such forward-looking statements. Besides other factors not mentioned here, differences could occur due to changes in the overall economic situation and the competitive environment – in particular in Alstrie’s key business segments and markets. In addition, the development of financial markets and changes in national and international regulations, particularly in the area of ​​tax legislation and financial reporting standards, could have an effect. Terrorist attacks and their aftermath could increase the likelihood and magnitude of divergences.

01.03.2022 Dissemination of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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