Xior Student Housing N.V.

Latest Results (20.08.2024):

Strong Q1 2024 Results

Xior Student Housing N.V. reported strong financial results for Q1 2024, with EPRA earnings per share increasing by 21% year-over-year to 0.64 EUR. The company achieved a like-for-like rental growth of 6.9% and maintained a high occupancy rate of 98%, driving rental income and operational margin improvements.

Basecamp Acquisition Integration

The full integration of Basecamp has solidified Xior Student Housing N.V.'s position as a leading provider of student accommodation in continental Europe. This acquisition has resulted in a more efficient portfolio, with 19,875 operational rooms across 42 cities in 8 countries, and a portfolio fair value of 3.19 billion EUR.

Divestment Program Progress

During Q1 2024, Xior Student Housing N.V. doubled its committed divestments from 110 MEUR to 220 MEUR. This divestment program includes the sale of 49 less sustainable and less efficient buildings, significantly improving the overall quality of the portfolio. The proceeds from these sales will be used to repay loans maturing up to Q2 2025.

Debt Management

Xior Student Housing N.V. has successfully extended or repaid all loans maturing until Q2 2025. The average cost of debt peaked at 3.18% and is expected to decrease from Q3 2024 onwards. The company's loan-to-value (LTV) ratio remains stable at 52.43%, with a target to bring it below 50% as a top priority.

Outlook and Guidance

Xior Student Housing N.V. has increased its guidance for like-for-like rental growth to a minimum of 5.5% for 2024, partly due to a promising start to the new academic year. The company has confirmed its earnings forecast for 2024, with an expected EPS of 2.21 EUR and a dividend per share (DPS) of 1.768 EUR.