LUXEMBOURG (dpa-AFX) - Aroundtown SA (AT1.DE) Wednesday said that it swung to profit in the first half of 2025 from last year's loss, helped by positive property revaluations and higher operating profit. The company also reaffirmed its outlook for fiscal 2025.
The Luxembourg-based real estate company posted profit of 578.0 million euros or 0.32 euros per basic share in the first half of the year, compared to a loss of 329.6 million euros or 0.32 per basic share in the same period last year.
According to Aroundtown SA, operating profit came in at 864.1 million euros during the first half, compared to operating loss of 170.9 million euros in the year-ago period.
The company's FFO I came in at 150.4 million euros in the six-month period, lower than 154.1 million euros recorded in the corresponding period in fiscal 2024. FFO II climbed to 199.6 million euros from 160.6 million euros a year ago.
During the first six months, net rental income climbed to 590.5 million euros from 587.6 million euros in the prior-year period. The company's revenue declined to 758.4 million euros from 770.8 million euros in the same period of fiscal 2024.
Looking ahead, the company reaffirmed its fiscal 2025 outlook of FFO I between 280 million euros and 310 million euros. FFO I per share is expected in the 0.26 euros to 0.28 euros range.
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