PRESS RELEASE

from LEG Immobilien AG (isin : DE000LEG1110)

EQS-Adhoc: LEG Immobilien SE: Suspension of the dividend for business year 2022 in order to strengthen the balance sheet – Increase in AFFO guidance

EQS-Ad-hoc: LEG Immobilien SE / Key word(s): Dividend/Change in Forecast
LEG Immobilien SE: Suspension of the dividend for business year 2022 in order to strengthen the balance sheet – Increase in AFFO guidance

08-March-2023 / 18:47 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Management board and supervisory board of LEG Immobilien SE have decided among other things to propose a suspension of the dividend payment for business year 2022 to the annual general meeting on 17th of May 2023.

Against the background of the current market situation which is affected by high interest rates as well as ongoing uncertainty on the valuation of the real estate portfolio, the liquidity will be used to strengthen the balance sheet instead of paying a dividend.

For the year 2022 the FFO I was €482 million and came out in the upper half of the last valid guidance range of 475 - €485 million. As already announced in November 2022, LEG Immobilien SE has shifted its core KPI to the FFO I adjusted for capitalized capex measures, specifically AFFO (FFO I and AFFO as defined within the glossary of the annual report). For 2022 the AFFO reached €108.8 million. For 2023 the company expects an increase in the AFFO range to 125 - €140 million against the original range of 110 - €125 million. The improvement in the expected AFFO is driven on the one hand by a further reduction in new development volumes which will further bring down capex expenditures and accordingly increase the AFFO. On the other hand, the suspension of the dividend will lead to lower interest costs and positively contribute to the AFFO.

 

Contact:
Frank Kopfinger
Head of Investor Relations & Strategy

Tel. +49 (0)211/4568-550
Mob. +49 (0)1721739339
 

08-March-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


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:1578069

 
End of AnnouncementEQS News Service

1578069  08-March-2023 CET/CEST

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