Branicks Group AG Reports Operationally Successful Financial Year for 2023 Despite Market Challenges

Branicks Group AG, under the ticker DE000A1X3XX4, announced its financial results for the year 2023, marking operational successes in a tough market environment. The company met its 2023 targets substantially, secured future financing, and saw positive developments in property lettings. A new focus on renewables was also introduced, diversifying its asset base further.

Despite a total decrease in assets under management, falling from EUR 14.7 billion the previous year to EUR 13.2 billion due to market conditions and sales impacts, Branicks successfully navigated operational challenges. Noteworthy is the reorganization of its financial structure, positioning it for a stable future. The company reported a net transaction volume of EUR 377 million, amidst high inflation and interest challenges across the global economy.

Operationally, Branicks reported a substantial improvement in letting performance, with a 19% increase over the previous year, and a like-for-like rental growth of 5.4%. However, the financial year saw a decline in Funds from Operations (FFO) to EUR 51.9 million, aligning with revised forecasts. The CEO highlighted continued investment in quality and sustainability as foundational for future recovery leadership.