Aedifica NV/SA: Interim financial report – Q1 2024

Please find below Aedifica’s interim financial report for the 1^st quarter of the 2024 financial year.

Robust operational performance driving strong results ahead of budget

• EPRA Earnings* amounted to €59.8 million (+8% compared to 31 March 2023), or €1.26/share
• Rental income increased to €82.0 million (+8% compared to 31 March 2023)
• 3.3% increase in rental income on a like-for-like basis in the 1st quarter of the year

Real estate portfolio* of nearly €6 billion as at 31 March 2024

• 623 healthcare properties for more than 47,300 end users across 8 countries
• Investment programme of €343 million in pre-let development projects and acquisitions in progress, of which €193 million remains to be invested. Over the 1^st quarter, 10 projects from the committed pipeline were delivered for a total investment budget of approx. €74 million

Solid balance sheet and strong liquidity

• 39.6% debt-to-assets ratio as at 31 March 2024
• €868 million of headroom on committed credit lines
• BBB investment-grade credit rating with a stable outlook (by S&P)
• UK REIT regime will increase the contribution of UK operating cashflows to the Group’s results

Outlook for 2024 on track

• EPRA Earnings* for 2024 are estimated at €223 million, or €4.70/share
• Proposed dividend for the 2024 financial year: €3.90/share (gross)

Attachments

• Interim financial report Q1 2024 - EN
• Rapport financier intermédiaire Q1 2024 - FR
• Tussentijds financieel verslag Q1 2024 - NL