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LEG Immobilien SE Financial Results H1 2024 | Profit Forecast Upgrade and Strategic Investments

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LEG Immobilien SE H1 2024: Key Takeaways

Introduction to LEG Immobilien’s H1 2024 Financial Results

In a comprehensive video presentation, Frank Kopfinger, Head of Investor Relations at LEG Immobilien, unveils the company’s financial results for the first half of 2024. The detailed disclosure, which includes significant financial adjustments, strategic investment insights, and an analysis of the current real estate market conditions, is a crucial update that will keep you well-informed about our financial status.

Raised Guidance and AFFO Increase

Frank Kopfinger starts the presentation by announcing a crucial update to LEG Immobilien’s financial outlook. The company has revised its Adjusted Funds from Operations (AFFO) projection upwards to €190-210 million from the previous range of €180-220 million. This adjustment reflects an approximate 10% increase in AFFO per share compared to 2023, signalling stronger operational efficiency and profitability.

Enhanced Investment in Property Maintenance

Addressing future growth strategies, Kopfinger highlights a strategic increase in investment spend per square meter to €34, up from €32. This strategic move, designed to enhance the quality and value of the existing property portfolio, ensures sustainable growth and tenant satisfaction, instilling confidence in our future.

Market Valuation and Property Disposals

Property Valuation Insights

The presentation shifts focus to the current property valuation cycle. Kopfinger points out a modest devaluation impact of -1.6%, suggesting that market valuations are nearing their lowest point, which might present future opportunities for value appreciation.

Strategic Property Disposals

Further illustrating operational successes, Kopfinger reports the disposal of approximately 2,900 units, totalling about €285 million in the first half of the year. These disposals are part of LEG Immobilien’s strategic realignment and capital recycling efforts, enhancing liquidity and financial flexibility.

Robust Financing Structure

Kopfinger concludes with an overview of LEG Immobilien’s financial structure. The company maintains a robust financing framework with a loan-to-value (LTV) ratio of 48.3% on a pro forma basis. He emphasizes the attractiveness of the financing structure, noting an average interest rate of just 1.66% across a matured period of six years. This strong financial foundation supports LEG Immobilien’s operational activities and strategic investments, positioning the company for sustainable growth.

Closing Remarks

Frank Kopfinger reaffirms LEG Immobilien’s commitment to its stakeholders, promising continued focus on operational excellence, strategic growth, and shareholder value maximization. This commitment is a testament to our dedication and should leave you feeling secure and confident in our future. He invites viewers to stay engaged with the company’s developments through upcoming financial periods.

This video is a must-watch for investors, analysts, and anyone interested in the financial dynamics and strategic directions of one of Europe’s leading real estate companies. Visit the link provided for a deeper dive into LEG Immobilien’s financial adjustments and market strategies.

Chapters
  • Guidance raise to €190 – 210m AFFO
  • Portfolio valuation H1-2024
  • Roughly €285m and almost 2,900 units of disposals YTD
  • Financial profile
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Frank Kopfinger, CFA
Head of Investor Relations & Strategy | LEG SE

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Release Date

August 9, 2024

Duration

09:49

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