FINANCIAL RESULTS 2023
March 11, 2024
DISCLAIMER
Cautionary note regarding forward-looking statements
The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and
unknown risks and uncertainties that could cause actual results, performance or events to differ materially
from those expressed or implied in such statements. Actual results, performance or events may differ
materially from those in such statements due to, without limitation, general economic conditions, including in particular economic conditions in the alstria's core business and core markets, general competitive
factors, the impact of acquisitions, including related integration issues, and reorganization measures. Furthermore, the development of financial markets, interest rate levels, currency exchange rates, as well as national and international changes in laws and regulations, in particular regarding tax matters, can have a corresponding impact. Many of these factors may be more likely to occur, or more pronounced, as a result
of terrorist activities and their consequences.
The current COVID-19 outbreak is creating substantial uncertainty in the marketplace. Although alstria has diligently reviewed the information contained in this release it is based on its own analysis and estimate, as
well as available public sources and not on active discussion with tenants. As such the current liquidity risk
of the tenants can materially differ from alstria's own estimate, and the actual impact of the COVID 19 outbreak may differ substantially from the current previsions.
No duty to update
The company assumes no obligation to update any information contained herein.
Financial results 2023 | alstria office REIT-AG | 2 |
AGENDA
Operations
Financials
Carbon Accounts
Appendix
SOLID OPERATING RESULT IN 2023
FFO above plan
Revenues: EUR 192.0 million (+5.0 % yoy)
FFO: EUR 88.0 million (-17.4 % yoy)
FFO per share: EUR 0.49 (-17.4 % yoy)
Stable leasing result
New leases: 23,400 m²
Lease extensions: 110,000 m²
Market-related devaluation
Markdown: EUR 769.5 million
Capex: EUR 137.3 million
Disposals: EUR 2.8 million
Balance sheet
EPRA NTA: EUR 9.10 per share
Net LTV (balance sheet): 56.4 %
BESENBINDERHOF 41, HAMBURG
Financial results 2023 | alstria office REIT-AG | 4 |
PORTFOLIO UPDATE
Investment property: EUR 4.0 billion
Avg. size per asset: 13,100 m²
Avg. value per asset: EUR 37.6 million
Value per m² | Valuation | |
EUR 2,860 | 5.0% | |
WAULT | EPRA vacancy rate | ||
5.3 years | 8.0% | ||
Contractual rent
199.6 million
ALSTRIA′S PORTFOLIO
Investment volume: EUR 4.0 bn
Lettable area: 1.4 million m² million
Hamburg (headquarters)
EUR 1,314 million
33 assets
374,900 m²
EUR 62 million
Berlin
EUR 366 million
12 assets
98,400 m²
EUR 14 million
Düsseldorf
EUR 1,039 million
31 assets
423,700 m²
EUR 60 million
Frankfurt
EUR 897 million
22 assets
288,100 m²
EUR 43 million
Stuttgart
EUR 373 million
8 assets
208,600 m²
EUR 20 million
Number of assets: 106
Contractual rent: EUR 199.6 MILLION
Financial results 2023 | alstria office REIT-AG | 5 |
LETTING OVERVIEW
LETTING VOLUME IN FY 2023: 133,400 m²* | FUTURE INCOME SECURED IN FY 2023: | |
(vs. 107,300 m² in FY 2022) | EUR 109.0 m | |
New leases | Lease extensions | 89.8 m |
WAULT: 4.6 years | WAULT: 5.3 years |
*Thereof 106.800 sqm of office space.
110,000 m² | 19.2 m | ||||
New leases | Lease extensions | ||||
AVERAGE RENT* | |||||
in EUR per m² | CAGR: 2.9% | ||||
12.77 | 14.07 | 14.11 | 14.47 | 14.53 | 14.76 |
23,400 m² | |||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
Financial results 2023 | *Total contractual rent/office space. | alstria office REIT-AG | 6 |
CAPEX
Project | City |
Epplestr. 225 | Stuttgart |
Gustav-Nachtigal-Str. 3 | Wiesbaden |
Deutsche-Telekom-Allee 7 | Darmstadt |
Carl-Reiß-Platz 2, 3, 4 | Mannheim |
Friedrich-Scholl-Platz 1 | Karlsruhe |
Gasstr. 18 | Hamburg |
Platz der Einheit 1 | Frankfurt |
Adlerstr. 63 | Düsseldorf |
Gustav-Nachtigal-Str. 4 | Wiesbaden |
Buxtehuder Str. 9, 9a, 11, 11a | Hamburg |
Friedrich-List-Str. 20 | Essen |
Top 10 projects
Other projects
Total capex
Capex 2023
(EUR m)
31.7
12.5
9.1
7.0
5.8
4.8
4.5
4.1
3.8
3.4
3.4
90.3
47.0
137.3
PLATZ DER EINHEIT 1, FRANKFURT
Financial results 2023 | alstria office REIT-AG | 7 |
AGENDA
Operations
Financials
Carbon Accounts Appendix
MOVEMENT OF INVESTMENT PROPERTY
Financial results 2023 | alstria office REIT-AG | 9 | ||
SELECTED BALANCE SHEET POSITIONS
G-REIT equity ratio
43.0% (55.3%*)
EPRA NTA per share
EUR 9.10 (EUR 14. 47*)
*As of Dec. 31, 2022.
INVESTMENT PROPERTY
in EUR million
4,607 | |
3,971 | |
-13.8% | |
Dec. 31, 2022 | Dec. 31, 2023 |
EQUITY
in EUR million
2,571 | |
1,618 | |
-37.1% | |
Dec. 31, 2022 | Dec. 31, 2023 |
NET FINANCIAL DEBT
in EUR million
2500 | 14.5% | 2,334 | |
2,038 | |||
2000 | |||
1500 | |||
1000 | |||
500 | |||
0 | |||
Dec. 31, 2022 | Dec. 31, 2023 |
Financial results 2023 | alstria office REIT-AG | 10 |
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Alstria Office REIT-AG published this content on 08 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 March 2024 16:23:03 UTC.