EQS-News: Adler Group’s rental business with strong performance in 9M 2024 – capital structure and equity position significantly improved following the successful recapitalization
|
EQS-News: Adler Group S.A.
/ Key word(s): Quarter Results
Adler Group’s rental business with strong performance in 9M 2024 – capital structure and equity position significantly improved following the successful recapitalization
As per 30 September 2024, Adler Group’s residential core portfolio includes 24,935 units, with the majority of 17,673 units located in Berlin. The gross asset value (GAV) of the yielding portfolio remained stable at €4.1bn as there was no external revaluation done at the end of the third quarter. Subsequent to the end of the third quarter, Adler Group disposed its 62.8% stake in Brack Capital Properties N.V. (BCP) to LEG Immobilien SE. This transaction will generate 219 million euro of net cash proceeds and enable the company to execute its corporate strategy which foresees Adler Group to focus on yielding assets in the Berlin area. “We are glad that we have succeeded to further stabilize Adler Group around the strong Berlin-focussed rental portfolio. We remain optimistic that a slowly improving transaction market provides us with chances to sell further assets in the coming months” comments Thorsten Arsan, CFO of Adler Group. The income from operating activities amounted to minus €348m in the first nine months of the current financial year (previous-year period: minus €971m) and was largely affected by the negative portfolio revaluation result in the second quarter. As in prior periods, FFO I was negative at minus €88m (previous year: minus €8m) due to the increasing interest burden. However, net income was positive with €1,451m (previous-year period: net loss of €1,226m) as a result of the recapitalisation with the conversion of certain financial instruments into equity, resulting in a largely extraordinary net finance income of €1,809m. Due to the recapitalisation, the group’s total equity increased significantly to €2,201m as per September 2024. The loan-to-value (LTV) reduced from 105.7% as per June 2024 to 62.6% as per September 2024. At the end of Q3 2024, Adler Group had cash and cash equivalents of €363m. Stefan Brendgen, Chairman of the Board of Directors of Adler Group, comments as follows: “The third quarter 2024 was a milestone for Adler Group with the completion of the comprehensive recapitalisation, the publication of the audited annual reports and, most recently, the successful disposal of BCP. We have laid out the basis to pursue the next steps according to our corporate strategy, which foresees the Group to focus on yielding assets in the Berlin area.” Furthermore, yesterday’s Ordinary General Meeting (OGM) of Adler Group passed all proposed resolutions including the approval of the appointment of Thorsten Arsan and Paul Copley as additional members of the Adler Group Board of Directors. Also, the OGM appointed AVEGA Révision to perform the audit of the 2024 standalone annual accounts and consolidated financial statements of Adler Group.
Webcast A webcast for analysts and investors will be held today, Thursday, 28 November 2024, at 10:00am CEST / 09:00am GMT. The webcast is available at the following link:
Contact Investor Relations:
28.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Adler Group S.A. |
| 55 Allée Scheffer | |
| 2520 Luxembourg | |
| Luxemburg | |
| Phone: | +352 278 456 710 |
| Fax: | +352 203 015 00 |
| E-mail: | investorrelations@adler-group.com |
| Internet: | www.adler-group.com |
| ISIN: | LU1250154413 |
| WKN: | A14U78 |
| Indices: | FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxembourg Stock Exchange |
| EQS News ID: | 2039889 |
| End of News | EQS News Service |
|
|
2039889 28.11.2024 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
| The most important financial data at a glance | ||||||||
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | 2025e | ||
| Sales1 | 156,52 | 758,74 | 1.143,73 | 734,47 | 445,08 | 0,00 | 0,00 | |
| EBITDA1,2 | 93,81 | 555,58 | 208,25 | 95,08 | 20,63 | 0,00 | 0,00 | |
| EBITDA-Margin3 | 59,94 | 73,22 | 18,21 | 12,95 | 4,64 | 0,00 | 0,00 | |
| EBIT1,4 | 613,92 | 544,28 | -640,97 | -1.272,05 | -1.463,99 | 0,00 | 0,00 | |
| EBIT-Margin5 | 392,23 | 71,74 | -56,04 | -173,19 | -328,93 | 0,00 | 0,00 | |
| Net Profit (Loss)1 | 606,92 | 229,46 | -1.165,01 | -1.674,85 | -1.809,83 | 0,00 | 0,00 | |
| Net-Margin6 | 387,76 | 30,24 | -101,86 | -228,04 | -406,63 | 0,00 | 0,00 | |
| Cashflow1,7 | 88,76 | 120,30 | -276,24 | -138,22 | -123,56 | 0,00 | 0,00 | |
| Earnings per share8 | 12,74 | 1,99 | -10,03 | -13,21 | -11,75 | -1,16 | -0,12 | |
| Dividend per share8 | 0,75 | 0,46 | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: AVEGA Revision
All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.
| INVESTOR-INFORMATION | ||||||
| ©boersengefluester.de | ||||||
| Adler Group | ||||||
| WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
| A14U78 | LU1250154413 | SA | 48,98 Mio € | 23.07.2015 | Verkaufen | 8FX8J49G+G5 |
| PE 2026e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
| -32,30 | 6,12 | -5,28 | -4,04 | 0,49 | -0,40 | 0,11 |
|
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
| 0,00 | 0,00 | 0,00 | 0,00% |
| Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
| 25.06.2025 | 27.05.2025 | 28.08.2025 | 28.11.2024 | 29.04.2025 |
| Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
| -9,17% | +41,05% | -4,72% | -36,67% | -98,39% |
Founded in 2013 by Gereon Kruse, the financial portal boersengefluester.de is all about German shares - with a clear focus on second-line stocks. In addition to traditional editorial articles, the site stands out in particular thanks to a large number of self-developed analysis tools. All tools are based on a completely self-maintained database for more than 650 shares. As a result, boersengefluester.de produces Germany's largest profit and dividend forecast.
Contact
