Aedifica SA

AED

Equity

ISIN BE0003851681 / Valor 2736001

Euronext - Euronext Brussels (2025-01-10)

EUR 55.15-0.81%

Aedifica SA
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About company

Aedifica SA is a real estate company that specializes in the development and rental of care properties in Finland, Sweden, and the UK. In Finland, the company's portfolio includes care homes, children day-care centers, and specialist residential care centers, all of which are recently constructed and purpose-built. Aedifica's presence in Finland is expected to grow in the coming years with a pipeline of development projects. In Sweden, the company's portfolio consists of small-scale residential care centers for disabled persons and children day-care centers. Aedifica's properties in Sweden are developed and rented out by its local subsidiary, Hoivatilat. In the UK, Aedifica entered the market in 2019 with the acquisition of a significant portfolio of 90 care homes, and has since expanded its portfolio through the acquisition of additional care properties. The company's portfolio offers geographical diversification with locations across the United Kingdom.

Summarized from source with an LLMView SourceSector: Finance

Portfolio Growth

In the first half of 2024, Aedifica SA's real estate portfolio reached a fair value of approximately €6,045 million, surpassing the €6 billion mark. This growth was driven by the completion of eighteen projects totaling around €135 million. The portfolio now includes 630 sites, accommodating over 35,700 residents and nearly 12,100 children.

Financial Performance

Aedifica SA reported a rental income of €165.8 million for the first half of 2024, marking a 7% increase compared to the same period in 2023. This rise is attributed to project completions and rent indexation. EPRA Earnings* increased by approximately 8% to €118.8 million, or €2.50 per share, exceeding budget expectations.

Profit and Dividends

The total profit for Aedifica SA in the first half of 2024 was €142.2 million, a significant increase from €56.8 million in the same period of 2023. The Board of Directors reaffirmed a proposed total gross dividend of €3.90 per share for the 2024 financial year, with an upward adjustment of estimated EPRA Earnings* to €4.85 per share.

Balance Sheet and Debt Management

As of June 30, 2024, Aedifica SA maintained a healthy balance sheet with a consolidated debt-to-assets ratio of 42.0%, below its self-imposed 45% threshold. The average cost of debt, including commitment fees, remained at 1.9%, supported by interest rate hedges covering nearly 89% of financial debt.

Investment and Strategic Moves

During the first half of 2024, Aedifica SA announced approximately €48 million in new investments in the healthcare real estate sector across the Netherlands, the UK, and Finland. Additionally, the company divested nine buildings for around €50 million, optimizing its portfolio and generating capital for new investments.

Summarized from source with an LLMView Source

Key figures

-10.3%1Y

-49.5%3Y

-48.2%5Y

Performance

25.3%1Y

26.6%3Y

29.0%5Y

Volatility