Clariane

Latest Results (07.08.2024):

Revenue Growth

Clariane reported a consolidated revenue of €2,636 million for the first half of 2024, marking a 6.1% increase on a reported basis and a 6.8% rise in organic terms compared to the same period in 2023. This growth was driven by higher business volumes and price increases across various regions, particularly in France, Germany, and the Belgium/Netherlands region.

EBITDA Performance

Clariane's EBITDA, excluding IFRS 16 and disposals, rose by 3.5% in the first half of 2024. The EBITDA margin saw a slight decline due to a reduction in the real estate development business. However, excluding this effect, the margin would have increased by 75 basis points, reflecting effective cost management and the initial positive impact of recovery efforts in Germany.

Net Loss

Clariane recorded a net loss of €3 million from continuing operations, excluding IFRS 16, in the first half of 2024. This loss includes the impact of interim financing costs and disposals. The net profit, Group share excluding IFRS 16, was -€28 million, which includes the loss from the disposal of the serviced residence business in France in June 2024.

Operating Free Cash Flow

Operating free cash flow, excluding IFRS 16, saw a significant increase, rising to €74 million in the first half of 2024 from €45 million in the same period of 2023. This improvement underscores Clariane's enhanced cash generation capabilities during the period.

Financial Position Strengthening

Clariane made substantial progress in strengthening its financial position, successfully raising a total gross amount of €329 million through capital increases. The rights issue was 168% oversubscribed. Additionally, the disposal program is well underway, with around 40% of the targeted €1 billion secured during the first half of 2024, aimed at reducing debt by 2025.