Aroundtown SA Reports 2025 Results and Announces GCP Exchange Offer

Aroundtown SA has announced its financial performance for 2025, which aligns with the prior guidance. The company achieved a net rental income of €1,183 million, slightly rising from 2024, aided by a 3% like-for-like rental growth. However, adjusted EBITDA decreased by 1% to €999 million. FFO I stood at €288 million, a 9% decline from the previous year due to increased finance costs.

The company plans a dividend of €0.08 per share, equal to a 30% payout of FFO I, with future payouts adjusted to 50% from 2026. Additionally, Aroundtown will continue its share buyback program of €250 million, scheduled for completion by year-end.

On the strategic front, Aroundtown has launched an exchange offer to increase its stake in Grand City Properties (GCP) to 89.5%. The offer provides GCP shareholders with four Aroundtown shares per GCP share, representing a 6.6% premium over GCP’s last closing price. This move is intended to bolster Aroundtown's presence as a major European real estate operator.