HAMBORNER REIT AG Reports Stable Growth and Dividend for 2024

HAMBORNER REIT AG has released its preliminary figures for 2024, showing a stable business performance despite challenging conditions. Rental income increased by 2% to €93.0 million, driven by new property acquisitions and contractual rent adjustments. However, funds from operations (FFO) fell by 5.5% to €51.6 million, impacted by higher maintenance and administrative expenses.

The company's financial stability remained solid, with a loan-to-value ratio of 43.7% and a REIT equity ratio of 55.2%. HAMBORNER proposed a dividend of €0.48 per share, maintaining the previous year's level, resulting in a 7.7% yield.

The past year included strategic asset sales, such as the Haerder Center in Lübeck and an office property in Osnabrück. These transactions contributed to a minor decline in the net asset value to €9.79 per share.

Looking forward, HAMBORNER forecasts a decrease in rental income and FFO for 2025 due to property sales and increased expenses. Dividend policy will be reviewed due to anticipated higher costs and reduced revenue.