LUXEMBOURG (dpa-AFX) - Aroundtown SA (AT1.DE), a real estate company, on Wednesday reported a rise in revenue for the first half of fiscal 2026, helped by higher operating and other income.
For the six-month period to June 30, the company reported FFO (FFO I) of EUR 143.8 million, or EUR 0.13 per share, less than EUR 150.4 million, or EUR 0.14 per share in the same period last year. The decline was mainly due to higher finance expenses.
FFO, including the results from the disposal of properties, or FFO II, was EUR 268.4 million, higher than the prior year's EUR 199.6 million.
Net income plunged to EUR 87 million, or EUR 0.08 per share from EUR 348.6 million, or EUR 0.32 per share in fiscal 2025. Net income was hurt by a steep decline in property revaluations and capital gains, and higher finance expenses. Property revaluations and capital gains plunged to EUR 1.7 million from the prior year's EUR 383.2 million. Finance expenses moved up to EUR 142.3 million from EUR 112.6 million a year ago.
Operating profit stood at EUR 472.1 million as against EUR 864.1 million last year.
Aroundtown recorded revenue of EUR 762 million, slightly higher than EUR 758 million in the previous year. This increase was driven by higher operating and other income of EUR 171.1 million, compared with EUR 167.9 million a year ago. Net rental income stood flat at EUR 590.6 million, compared with EUR 590.5 million last year. Net rental income was supported by solid like-for-like rental growth of 2.7% offset by the impact from net disposals.
Looking ahead, for fiscal 2026, Aroundtown expects FFO I of EUR 275 million to EUR 305 million, or EUR 0.24 to EUR 0.27 per share. The company intends to pay a total annual dividend of EUR 0.120 to EUR 0.135 per share.
For fiscal 2025, the company had posted FFO I of EUR 288 million, or EUR 0.26 per share. For fiscal 2025, Aroundtown had paid a total dividend of EUR 0.08 per share.
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