PATRIZIA SE Preliminary Financial Results for Fiscal Year 2023: EBITDA of €54.1 million

PATRIZIA SE announced its preliminary financial results for fiscal year 2023, showing EBITDA of €54.1 million, down 31.5% from the previous year. This performance was significantly affected by market difficulties, reorganization expenses and other revenues.

The company continued to grow in assets under management (AUM) reaching €57.3 billion, despite an overall decline of 3.2% year-on-year due to real asset valuation pressure. PATRIZIA maintained net purchasing activity, with investments strategically aligned with global megatrends.

At the same time, PATRIZIA is proposing a 3.0% increase in its dividend per share to 0.34 euros and adjusting its dividend policy to offer consistently growing dividends despite temporarily moderate net profit levels. The company is cautiously optimistic for fiscal 2024, with EBITDA forecast between €30.0 million and €60.0 million and AUM estimated between €54.0 billion and €60.0 billion.

PATRIZIA's financial strength, with a strong balance sheet and available liquidity of 291.0 million euros, as well as growth potential supported by 3.4 billion euros of firepower in its funds, positions the company to take advantage of the investment opportunities that arise.