DGAP-News: alstria office REIT-AG / Key word(s): Quarterly / Interim statement/Quarterly results
alstria office REIT-AG: Results for the first quarter of 2022
02.05.2022 / 17:40
The issuer is solely responsible for the content of this announcement.

Press release

Results for the first quarter of 2022

• Revenue at €45.9 million and funds from operations (FFO) at €27.5 million

• EPRA NTA at EUR 19.09 per share

• New revolving credit facility (RCF) of 200 million euros over three years

Hamburg, 2 May 2022 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) (“alstria”) announces its results for the first three months of 2022.

Turnover of 45.9 million euros and FFO of 27.5 million euros
alstria’s revenues evolved as expected during the reference period and reached 45.9 million euros in the first quarter of 2022 (3M 2021: 44.7 million euros). The 2.8% increase is mainly due to the net impact of transactions that occurred in 2021.

Operating profit (FFO after minority interests) amounted to €27.5 million in the reporting period (3M 2021: €29.4 million). The increase in rental income was offset by the increase in property operating expenses due to increased activity on the assets. The consolidated net result for the period under review amounts to 20.7 million euros (3M 2021: 26.2 million euros).

EPRA NTA up to EUR 19.09 per share
The fair value of investment properties amounts to 4,767 million euros as of March 31, 2022, compared to 4,776 million euros as of December 31, 2021. The slight decrease results from the sale of a building in Düsseldorf. As of March 31, 2022, Alstria’s cash and cash equivalents amounted to €378 million (December 31, 2021: €314 million).

In the first three months of 2022, Alstria’s shareholders’ equity increased by 0.6% to EUR 3,388 million, reflecting the positive profit contribution from the first quarter of 2022. As a result, EPRA NTA of the company improved to 19.09 euros per share. The G-REIT’s equity ratio was 70.4% and the Company’s net LTV was 27.7% as of March 31, 2022.

Increase in rental results
alstrie rental performance increased from 16,900 m² in Q1 2021 to 34,100 m² during the reference period. This represents new leases signed for 11,600 m², as well as lease extensions of approximately 22,500 m². The EPRA vacancy rate stands at 7.7% (31 December 2021: 6.9%). The improvement in rental performance partly reflects improved sentiment in the rental market in the first quarter of 2022 following the reduction in perceived uncertainty around the Covid-19 pandemic.

Intention to Adjust Capital Structure – New Revolving Credit Facility
Following the review of the capital structure of the Company, the management board of alstria intends to incur debt for an amount of up to 850 million euros. The Company intends to operate with leverage meeting the minimum criteria consistent with an investment grade rating resulting in a firm leverage of approximately 50% LTV. The additional debt may result from the issuance of secured or unsecured debt securities, such as for example corporate bonds and/or bank financing.

The expected product will be used to return approx. €1 billion of capital to shareholders in the form of a share buyback in accordance with the existing authorization or – subject to a decision of a general meeting of the Company – in the form of a payment of exceptional dividend.

Alstrie recently signed a new three-year Revolving Credit Facility (RCF) for €200 million to improve its already strong liquidity position.

Orientations for the full year confirmed
Based on the first quarter results, alstria confirms its guidance for the full year 2022 with expected revenue of around €183 million and operating result (FFO) of €106 million .

“While the impact of the Covid pandemic is slowly normalizing and having a positive impact on rental markets, other major macro events have increased the overall uncertainty in the market,” says Olivier Elamine, CEO of alstria . “The economic impact of the war in Ukraine is being felt across all sectors, with Germany’s CPI rising significantly. Our CPI-linked income portfolio combined with strong real assets and hands-on management provides a solid foundation that will enable the company to navigate safely in the current environment.”

Invitation to the May 3, 2022 conference call
Alstria’s Board of Directors, CEO Olivier Elamine and Chief Financial Officer Alexander Dexne, will present the first quarter results during a conference call at 2:00 p.m. (CEST).

Please use one of the following phone numbers:
Germany: +49 69 201 744 220
UK: +44 203 009 2470
PIN: 36929050#

Note that you can follow the presentation of the management live via webcast on our website www.alstria.com. As soon as the conference call begins, the presentation slides will be available for download.

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alstria office REIT-AG
Steinstr. 7
20095 Hamburg
Germany

Investor Relations
Julius Stinauer
Such. : +49 40 22 63 41-344
Email: [email protected]

press contact
Philippe Angrabeit
Such. : +49 40 22 63 41-389
Email: [email protected]

Further information
www.alstria.com
www.beehive.work
www.linkedin.com/company/alstria-office-reit-ag
www.green-dividend.com

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About Austria
alstria office REIT AG is the leading real estate operator focusing solely on German office real estate in selected German markets. Our strategy is based on ownership and active management of our assets throughout their life cycle, high value-added services for our customers and in-depth knowledge of the markets in which we operate. alstria strives to create sustainable long-term value while taking advantage of the short-term arbitrage of property market inefficiencies. As of March 31, 2022, the portfolio comprises 110 buildings with a leasable area of ​​1.4 million square meters and a total portfolio value of 4.8 billion euros.

Warning
This press release does not constitute an offer to sell or a solicitation of an offer to buy shares. To the extent that this press release contains forward-looking statements concerning the business, financial condition and results of operations of alstria office REIT-AG (alstria), such statements are based on the current expectations or beliefs of the management of alstria. These forward-looking statements are subject to a number of risks and uncertainties that could cause the Company’s actual results or performance to differ materially from those reflected in such forward-looking statements. Besides other factors not mentioned here, differences could occur due to changes in the overall economic situation and the competitive environment – in particular in Alstrie’s key business segments and markets. In addition, the development of financial markets and changes in national and international regulations, particularly in the area of ​​tax legislation and financial reporting standards, could have an effect. Terrorist attacks and their aftermath could increase the likelihood and extent of divergences.

02.05.2022 Broadcast of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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