Adler Group Reports Strong Rental Performance Amidst Improved Financial Stability

Adler Group S.A. announced strong operational results for the first nine months of 2024, showcasing significant improvements in its capital structure and equity position. Despite a slight 3% decrease in net rental income to €155 million, due to 2023 portfolio disposals, the company experienced a like-for-like rental growth of 4.1%. The vacancy rate stood at a low 1.7%, with an average rent of €7.71 per square meter per month.

Following a comprehensive recapitalization, the company's loan-to-value ratio improved from 105.7% to 62.6%. The disposal of its stake in Brack Capital Properties is expected to strengthen liquidity further with €219 million in net cash proceeds. As a result, Adler Group's total equity rose to €2,201 million.

The company aims to concentrate its efforts on yielding assets in the Berlin area, with future opportunities anticipated in an improving transaction market. Key leadership appointments were ratified in the latest Ordinary General Meeting, aligning with Adler's strategic focus.