ADLER Real Estate AG: Business year 2020 successfully closed
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DGAP-News: ADLER Real Estate AG
/ Key word(s): Annual Results
ADLER Real Estate: Business year 2020 successfully closed Berlin, March 31, 2021 - ADLER Real Estate AG has closed the business year 2020 successfully as part of the new ADLER Group. Although net rental income fell slightly year on year following reductions in the property portfolio, both FFO I and EPRA NRV increased further. Net rental income declined slightly due to reduction in property portfolio Net rental income amounted to EUR 239.7 million in 2020 and was thus 3.6% below the comparable prior-year figure. This development is mainly due to the fact that the commercial portfolio of BCP which was sold in 2019 did not further contribute to rental income in 2020 and, in addition, the number of rental units also declined in the course of the business year in the course of further portfolio optimisation. At the same time, operational KPI's such as the vacancy rate and the average monthly rent per sqm improved further in 2020. As a consequence, earnings from property lettings fell slightly. As income from fair value adjustments - partly due to Corona - was also lower than in the previous year, earnings declined overall. FFO I improved by 1.8% Notwithstanding the decline in sales and earnings, FFO I proved to be robust compared to the previous year and increased by 1.8 percent to EUR 85.9 million. EPRA NRV increased by 5.3% The EPRA NRV (excluding goodwill, fully diluted and taking into account the capital increase resolved at the beginning of October 2020) amounted to EUR 2.3 billion at the end of 2020 and was thus 5.3% above the comparable prior-year level. Since the Adler Group took over the majority of ADLER shares in mid-2020, ADLER has been part of Adler Group. The IFRS consolidated financial statements of ADLER Real Estate AG are therefore fully consolidated in the IFRS consolidated financial statements of Adler Group S.A. The complete 2020 financial report is available on ADLER's website at www.adler-ag.com. 2020 key data
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31.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | ADLER Real Estate AG |
| Am Karlsbad 11 | |
| 10785 Berlin | |
| Germany | |
| Phone: | +49 30 39 80 18 10 |
| Fax: | +49 30 39 80 18 199 |
| E-mail: | info@adler-ag.com |
| Internet: | www.adler-ag.com |
| ISIN: | DE0005008007, XS1211417362 DE000A1R1A42 DE000A11QF02 |
| WKN: | 500800, A14J3Z A1R1A4 A11QF0 |
| Indices: | GPR General Index |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1179875 |
| End of News | DGAP News Service |
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1179875 31.03.2021
