EQS-News: HAMBORNER REIT AG continues business development as planned in the second quarter of 2025

PRESS RELEASE

HAMBORNER REIT AG continues business development as planned in the second quarter of 2025

• Operational performance in line with expectations
• Reduction in income from rents and leases by 2.1% to €45.7 million
• Decrease in FFO by 12.1% to €24.9 million
• Loan-to-value (LTV) after dividend payout at 44.3% (+0.6 %-points YTD)
• Net asset value (NAV) per share at €9.51 (-2.9% YTD)
• Increase in revenue forecast and confirmation of the 2025 earnings forecast

BUSINESS FIGURES FOR THE FIRST HALF OF 2025

Duisburg, 5 August 2025 – In a persistently challenging macroeconomic and sector-specific environment, HAMBORNER REIT AG again delivered operational performance in line with expectations in the second quarter of the current year.

Income from rents and leases amounted to €45.7 million in the first half of 2025, representing a decline of 2.1% compared to the same period of the previous year. The decline was mainly attributable to recent property disposals. Influenced by lower rental income and the increased cost burdens projected in the full-year outlook, funds from operations decreased by 12.1% year-on-year to 24.9 million. Accordingly, FFO per share fell to €0.31 (previous year: €0.35).

The company remains in a solid financial position. The REIT equity ratio stood at 55.0% as at 30 June 2025, thus remaining at a high level. Loan to value (EPRA LTV) increased to 44.3% compared year-end 2024 (43.7%), primarily due to the dividend payment made in the second quarter.

PORTFOLIO DEVELOPMENT

At the beginning of the second quarter of 2025, ownership of the most recently sold properties – the retail property in Lübeck and the office property in Osnabrück – was transferred to the respective buyers.

The company did not have a portfolio-wide external asset valuation carried out as at 30 June 2025. Nevertheless, in consultation with the external appraiser, selective fair value adjustments were made. The downward revaluations affected four office and retail properties and were primarily attributable to changes in location and letting conditions. In total, these adjustments resulted in a decline in fair value of €7.3 million or 0.5%.

Taking into account the property disposals and impairments recognised, the fair value of the total portfolio fell by €34.7 million in the first half of the year, standing at €1,406.3 million as at 30 June 2025.

As a result of the dividend payment and the fair value adjustments, the net asset value (NAV) per share fell by 2.9% compared to the end of the year 2024 (€9.79) and amounted to €9.51 as at 30 June 2025.

OPERATIONAL BUSINESS DEVELOPMENT

The company also continued its planned operational performance. In the first six months of the financial year, contracts were signed for rental space totalling approx.12,400 m² (previous year: approx. 25,000 m²), with office space accounting for around 94%. At around 95%, the retention rate remained at a very high level, underscoring the continued strong satisfaction among existing tenants. With regard to rental volume, only 0.9% of annualised income is up for renegotiation or reletting during the remainder of the year.

The weighted average lease term (WALT) declined slightly in the first half of 2025 and stood at 5.7 years as at 30 June 2025. Within the portfolio, average lease terms for retail and office portfolios were 6.9 and 4.1 years respectively. The EPRA vacancy rate increased slightly to 3.5% (31 December 2024: 2.8%) over the course of the year. The increase is primarily attributable to isolated increases in vacancies within the office portfolio.

OUTLOOK

In light of the business development in the first half of the year, the company reaffirms its fundamental outlook for the remainder of the year as set out in the 2024 annual report.

Taking into account the assumptions stated in the annual report, the company now expects income from rents and leases in a range of €89.5 million to €90.5 million in the financial year 2025 (previously: €87.5 million to €89.0 million).

The higher forecast is mainly the result of a property disposal that had previously been included original full-year guidance but did not materialise, as well as higher income from rental agreements signed during the year.

Taking into account the expected increase in operating costs, the company continues to anticipate funds from operations (FFO) in the range of €44.0 million to €46.0 million.

KEY FINANCIAL AND PORTFOLIO FIGURES AS OF 30 JUNE 2025

The full half-year financial report 2025 is available for download in the Financial Reports section of the company's website. Further information on the key performance indicators is available in the glossary.

ABOUT HAMBORNER REIT AG

HAMBORNER REIT AG a public company listed in the SDAX that operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a diversified portfolio of properties distributed throughout Germany with a total value of around €1.4 billion. The portfolio focuses on modern office properties at established locations as well as attractive local supply properties as large-scale retail assets, retail parks and DIY stores in central inner-city locations, district centres and highly frequented edge-of-town sites of major German cities and mid-sized centres.

HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainably attractive dividend strategy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.

CONTACT

Christoph Heitmann
Head of Investor Relations, Financing & Corporate Communications
T.: +49 (0)203 54405-32
M: info@ir.hamborner.de
W: www.hamborner.de

DISCLAIMER

This press release has been issued by HAMBORNER REIT AG (hereinafter "HAMBORNER") solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of HAMBORNER ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from HAMBORNER's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by HAMBORNER and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should therefore not be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. HAMBORNER accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. HAMBORNER does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. HAMBORNER is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.