|
EQS-Ad-hoc: LEG Immobilien SE / Key word(s): Forecast/Dividend Realignment of business strategy to the market environment, followed by a new system of key figures for 2023 and a new dividend policy
For 2023, the Executive Board, with the approval of the Supervisory Board, has decided to realign the business strategy against the background of the current market situation, which is characterized by inflation and rising interest rates, and to focus on the highest possible capital efficiency – irrespective of the capitalization rate of the invested funds.
Therefore, the Company no longer reports FFO I as a key figure in its guidance – since this is significantly influenced by the capitalization rate – but instead reports FFO I adjusted for capitalized CapEx measures, specifically AFFO.
For 2023, the company expects AFFO in the range of 110 to €125 million (expectation for 2022: 70 to €80 million).The key figures investments per square meter in the portfolio (expectation for 2023: around 35€/sqm; forecast for 2022: close to 42€/sqm) and rental growth in the comparable (like-for-like) portfolio (expectation for 2023: 3.3 to 3.7%; forecast for 2022: about 3.0%) remain unchanged as part of the guidance.
In particular, the business strategy with a stronger focus on maximizing potential capital efficiency is expected to lead to a development of FFO I – now no longer relevant – below the current market expectation in 2023. Based on the economic planning, the calculated FFO I of LEG Immobilien SE for 2023 is in a range of 425 to €440 million. The FFO I guidance for fiscal year 2022 is specified at 475 to €485 million – within the previous spectrum.
In addition, the dividend distribution for fiscal year 2023 will also be based on the new cash-oriented key performance indicator system. The plan is to measure the dividend payout based on two components: Depending on the market environment, 100% of AFFO is to be distributed on the one hand and a part of the net proceeds generated from property disposals on the other.
As in previous years, the dividend proposal for 2022 will be based on FFO I. However, the payout ratio of 70% is subject to further market developments. Contact: Frank Kopfinger Head of Investor Relations & Strategy Tel. +49 (0)211/4568-550 Mob. +49 (0)1721739339
09-Nov-2022 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | LEG Immobilien SE |
| Flughafenstraße 99 | |
| 40474 Düsseldorf | |
| Germany | |
| Phone: | +49 (0) 211 / 4568 - 0 |
| Fax: | +49 (0) 211 / 4568 - 22 204 |
| E-mail: | ir@leg-se.com |
| Internet: | www.leg-se.com |
| ISIN: | DE000LEG1110 |
| WKN: | LEG111 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1483625 |
| End of Announcement | EQS News Service |
|
|
1483625 09-Nov-2022 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
