11 min
LEG Immobilien SE Financial Results Q1 2024 | Positive Outlook with Strong Rental Growth Financial Frontiers: Unveiling Corporate Insights & Market Trends with seat11a.com
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- Investissement
LEG Immobilien SE Q1 2024: Key Takeaways
Overview of LEG Immobilien SE’s Positive Outlook for 2024
In a detailed presentation, Frank Kopfinger, Head of Investor Relations at LEG Immobilien SE, provided a comprehensive overview of the company’s positive outlook for 2024. LEG Immobilien SE has successfully executed property disposals worth EUR 210 million year-to-date, reflecting strong demand in the market and our strategic focus on optimizing our portfolio. The company has seen a significant increase in like-for-like rents by 4.1% in the free financed portion of its portfolio, while the overall portfolio rents increased by 3.5%. The vacancy rate has impressively declined by 30 basis points to 2.5%, underscoring the high demand for LEG’s affordable housing solutions.
Financial Health and Performance Indicators
Frank Kopfinger highlighted the company’s financial health, reporting an AFFO (Adjusted Funds From Operations) of approximately EUR 49 million for the first quarter, keeping LEG on track to meet its full-year guidance of EUR 180 to 200 million. Despite a slight anticipated devaluation in property values by 1-3% in the first half of 2024, which is a common market trend, the Net Tangible Assets (NTA) per share remains robust at EUR 127.69, indicating a stable asset base.
Sustainability and Innovation in Operations
The presentation also detailed the largest tenant electricity project in North Rhine-Westphalia, completed in Monheim, which includes photovoltaic installations on 1,117 flats. This project, a key part of LEG’s broader decarbonization and sustainability initiatives, demonstrates our commitment to a greener future. Moreover, the company’s proactive sales strategy has resulted in the disposal of 2,200 units above book value, reinforcing its financial stability and strategic focus.
Commitment to Affordable Housing and Future Investments
LEG continues to prioritize affordable housing, with an average net cold rent per square meter of EUR 6.67. The company is also steadfast in its investment plans, allocating EUR 32 per square meter for 2024 to maintain and enhance its property portfolio. Looking ahead, LEG confirms its annual guidance for AFFO in the range of EUR 180 to 200 million, underpinned by its robust core business and strategic initiatives.
▶️ Other videos:
Elevator Pitch: https://seat11a.com/investor-relations-elevator-pitch/
Company Presentation:
https://seat11a.com/investor-relations-company-presentation/
Deep Dive Presentation:
https://seat11a.com/investor-relations-deep-dive/
Financial Results Presentation:
https://seat11a.com/investor-relations-financial-results/
ESG Presentation: https://seat11a.com/investor-relations-esg/
T&C
This publication is for informational purposes only and does not
constitute investment advice. By using this website, you agree to our
terms and conditions outlined on www.seat11a.com/legal and
www.seat11a.com
LEG Immobilien SE Q1 2024: Key Takeaways
Overview of LEG Immobilien SE’s Positive Outlook for 2024
In a detailed presentation, Frank Kopfinger, Head of Investor Relations at LEG Immobilien SE, provided a comprehensive overview of the company’s positive outlook for 2024. LEG Immobilien SE has successfully executed property disposals worth EUR 210 million year-to-date, reflecting strong demand in the market and our strategic focus on optimizing our portfolio. The company has seen a significant increase in like-for-like rents by 4.1% in the free financed portion of its portfolio, while the overall portfolio rents increased by 3.5%. The vacancy rate has impressively declined by 30 basis points to 2.5%, underscoring the high demand for LEG’s affordable housing solutions.
Financial Health and Performance Indicators
Frank Kopfinger highlighted the company’s financial health, reporting an AFFO (Adjusted Funds From Operations) of approximately EUR 49 million for the first quarter, keeping LEG on track to meet its full-year guidance of EUR 180 to 200 million. Despite a slight anticipated devaluation in property values by 1-3% in the first half of 2024, which is a common market trend, the Net Tangible Assets (NTA) per share remains robust at EUR 127.69, indicating a stable asset base.
Sustainability and Innovation in Operations
The presentation also detailed the largest tenant electricity project in North Rhine-Westphalia, completed in Monheim, which includes photovoltaic installations on 1,117 flats. This project, a key part of LEG’s broader decarbonization and sustainability initiatives, demonstrates our commitment to a greener future. Moreover, the company’s proactive sales strategy has resulted in the disposal of 2,200 units above book value, reinforcing its financial stability and strategic focus.
Commitment to Affordable Housing and Future Investments
LEG continues to prioritize affordable housing, with an average net cold rent per square meter of EUR 6.67. The company is also steadfast in its investment plans, allocating EUR 32 per square meter for 2024 to maintain and enhance its property portfolio. Looking ahead, LEG confirms its annual guidance for AFFO in the range of EUR 180 to 200 million, underpinned by its robust core business and strategic initiatives.
▶️ Other videos:
Elevator Pitch: https://seat11a.com/investor-relations-elevator-pitch/
Company Presentation:
https://seat11a.com/investor-relations-company-presentation/
Deep Dive Presentation:
https://seat11a.com/investor-relations-deep-dive/
Financial Results Presentation:
https://seat11a.com/investor-relations-financial-results/
ESG Presentation: https://seat11a.com/investor-relations-esg/
T&C
This publication is for informational purposes only and does not
constitute investment advice. By using this website, you agree to our
terms and conditions outlined on www.seat11a.com/legal and
www.seat11a.com
11 min