Please find below a press release from Aedifica (a public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), regarding its 2022 annual results.
Robust operational performance driving strong results
- EPRA Earnings amounted to €181.4 million (+20% compared to 31 Dec. 2021), or €4.76/share
- Rental income increased to €273.1 million (+18% compared to 31 Dec. 2021)
- 4.2% increase in rental income on a like-for-like basis* over the year
- Weighted average unexpired lease term of 19 years and occupancy rate of 100%
Real estate portfolio* of €5.7 billion as at 31 December 2022
- Increase of approx. €807 million compared to 31 December 2021 (+16%)
- 622 healthcare sites for more than 47,100 end users across 8 countries
- Investment programme of €671 million in pre-let development projects and acquisitions in progress, of which €489 million remains to be invested. In 2022, 40 projects from the programme were completed for a total investment budget of approx. €295 million
Solid balance sheet and strong liquidity
- 43.6% debt-to-assets ratio as of 31 December 2022
- Strengthening equity: nearly €310 million raised on capital markets through a capital increase via an accelerated private placement (€254 million) and two contributions in kind
- €667 million of headroom on committed credit lines to finance CAPEX and liquidity needs
- BBB investment-grade credit rating with a stable outlook reaffirmed by S&P
Outlook
- Proposed dividend of €3.70/share (gross) is confirmed (distribution in May 2023)
- EPRA Earnings* for 2023 are estimated at €200 million, or €5.03/share
- Dividend of €3.80/share (gross) proposed for the 2023 financial year
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