Half-year financial report 2022

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Please find below a press release from Aedifica (public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), regarding the 2022 half-year results.

Strong operational performance driving strong results

  • EPRA Earnings* amounted to €85.9 million (+27% compared to June 30, 2021), i.e. €2.36/share
  • Rental income up to €131.0m (+21% compared to June 30, 2021)
  • 4.2% increase in rental income on a like-for-like basis over the first six months of the year
  • Weighted average duration of unexpired leases of 20 years and occupancy rate of 100%

A real estate portfolio* of nearly 5.3 billion euros as of June 30, 2022

  • Increase of approx. 381 million euros compared to December 31, 2021 (+8%)
  • 599 care sites for approx. 44,300 users in 8 countries
  • Investment program of €820 million in pre-marketed development projects and ongoing acquisitions. In the first half, 14 projects were delivered for a total investment budget of approx. 63 million euros

Strengthened capital structure and strong liquidity

  • Gearing ratio of 41.0% as of June 30, 2022
  • 309 million euros raised on the capital markets via a capital increase by accelerated private placement (254 million euros) and two contributions in kind
  • New long-term bank financing concluded for an amount of 421 million euros, of which 258 million euros linked to sustainability KPIs
  • BBB Investment Grade credit rating with stable outlook reaffirmed by S&P

Outlook

  • The estimated EPRA Earnings* for the 2022 financial year is up slightly to 177 million euros (compared to 175 million euros previously)
  • Taking into account the increase in the number of shares following the recent capital increases, the EPRA Earnings* per share is estimated at €4.64/share (previously €4.77/share)
  • The proposed dividend of €3.70/share (gross) is reconfirmed

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