Balance Sheet Aroundtown SA

Equities

AT1

LU1673108939

Real Estate Development & Operations

Market Closed - Xetra Other stock markets 16:35:28 17/04/2026 BST			After hours 20:59:31
2.610 ^EUR	+0.31%		2.602	-0.31%

04-14	AROUNDTOWN : Jefferies reiterates its Sell rating	ZD
04-14	Jefferies Maintains "Underperform" Rating on Aroundtown - Price Target 2.30 Euros	DP

80d1ed2157a.KntEUmNhwnU9RkSHhWXUkUe3i7rrTlDQnGXWhfSD3Ro.GAwxPBYWsQByMCHO9jSR8hWG_I6jOTih0VSexKPF5Gt_SxsVIFGUGAoUEQ

Published financial data: AROUNDTOWN SA

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Rental Revenues	1.32B	1.61B	1.6B	1.54B	1.54B
Other Revenues, Total	193M	5.9M	-150M	-42.5M	15.1M
Total Revenues	1.52B	1.62B	1.45B	1.5B	1.56B
Property Expenses	408M	620M	605M	550M	549M
Selling General & Admin Expenses, Total	56.6M	62.5M	64.7M	65.7M	65.4M
Total Operating Expenses	465M	682M	670M	616M	614M
Operating Income (REIT / Utility Template)	1.05B	933M	783M	884M	944M
Interest Expense, Total	-180M	-185M	-230M	-235M	-243M
Net Interest Expenses	-180M	-185M	-230M	-235M	-243M
Income (Loss) on Equity Invest.	-	-	-	-	-
Other Non Operating Income (Expenses)	-	-	-	-	-
EBT, Excl. Unusual Items	872M	749M	553M	649M	701M
Total Merger & Related Restructuring Charges	-	-	-	-	-
Impairment of Goodwill	-	-404M	-137M	-46M	-239M
Gain (Loss) on Sale of Assets	65.6M	42.6M	-42.7M	1.8M	-8.6M
Asset Writedown	744M	-540M	-3.17B	-127M	394M
Other Unusual Items	-287M	-269M	-47.4M	-31M	-49.1M
EBT, Incl. Unusual Items	1.39B	-422M	-2.85B	446M	798M
Income Tax Expense	316M	35M	-423M	137M	-330M
Earnings From Continuing Operations	1.08B	-457M	-2.43B	309M	1.13B
Net Income to Company	1.08B	-457M	-2.43B	309M	1.13B
Minority Interest	-330M	-69.9M	592M	-53M	-256M
Net Income - (IS)	748M	-527M	-1.83B	256M	872M
Preferred Dividend and Other Adjustments	106M	118M	153M	203M	206M
Net Income to Common Incl Extra Items	642M	-645M	-1.99B	52.9M	665M
Net Income to Common Excl. Extra Items	642M	-645M	-1.99B	52.9M	665M
Per Share Items
Net EPS - Basic	0.55	-0.58	-1.82	0.05	0.61
Basic EPS - Continuing Operations	0.55	-0.58	-1.82	0.05	0.61
Basic Weighted Average Shares Outstanding	1.17B	1.11B	1.09B	1.09B	1.09B
Net EPS - Diluted	0.53	-0.58	-1.82	0.05	0.61
Diluted EPS - Continuing Operations	0.53	-0.58	-1.82	0.05	0.61
Diluted Weighted Average Shares Outstanding	1.17B	1.11B	1.09B	1.09B	1.1B
Normalized Basic EPS	0.18	0.36	0.86	0.32	0.17
Normalized Diluted EPS	0.18	0.36	0.86	0.32	0.17
Dividend Per Share	0.23	-	-	-	0.08
Payout Ratio	33.69	-32.13	-	-	-
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	1.06B	947M	794M	901M	958M
EBITA	1.05B	933M	783M	884M	944M
EBIT	1.05B	933M	783M	884M	944M
Effective Tax Rate - (Ratio)	22.67	-8.29	14.84	30.7	-41.29
Total Current Taxes	56.3M	69M	72.1M	77.5M	86.6M
Total Deferred Taxes	216M	-82.4M	-543M	12.5M	-459M
Normalized Net Income	215M	398M	938M	352M	182M
Interest on Long-Term Debt	13.5M	10.9M	16.8M	13.3M	12.2M
Supplemental Operating Expense Items
General and Administrative Expenses	56.6M	62.5M	64.7M	65.7M	65.4M
Maintenance & Repair Expenses, Total	37.8M	51.1M	49.3M	55M	55.2M
Stock-Based Comp., G&A Exp. (Total)	-	-	-	-	-
Stock-Based Comp., Other (Total)	5.9M	5.4M	5.3M	5.2M	3.6M
Total Stock-Based Compensation	5.9M	5.4M	5.3M	5.2M	3.6M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Gross Property Plant And Equipment	29.27B	28.21B	24.89B	24.65B	25.16B
Accumulated Depreciation	-20.8M	-34.2M	-45.3M	-62.7M	-76.8M
Net Property Plant And Equipment	29.25B	28.18B	24.85B	24.58B	25.09B
Total Real Estate Assets	29.25B	28.18B	24.85B	24.58B	25.09B
Cash And Equivalents	2.87B	2.31B	2.64B	3.13B	3.62B
Accounts Receivable, Total	125M	91.8M	115M	77.2M	108M
Other Receivables	409M	546M	632M	598M	596M
Investment In Debt and Equity Securities	1.57B	1.68B	1.56B	1.37B	876M
Goodwill	1.69B	1.29B	1.15B	1.11B	868M
Other Intangibles, Total	22.8M	17.9M	12.5M	12.4M	11.7M
Other Current Assets, Total	1.25B	1.14B	813M	1.03B	825M
Trading Asset Securities, Total	340M	266M	258M	431M	352M
Deferred Tax Assets Long-Term (Collected)	85.5M	65.1M	65.8M	60.6M	51.7M
Other Long-Term Assets, Total	1.76B	1.77B	1.46B	1.21B	1.3B
Total Assets	39.38B	37.35B	33.56B	33.62B	33.69B
Liabilities
Current Portion of Long-Term Debt	544M	123M	420M	1.69B	1.78B
Short-Term Borrowings	-	-	-	-	-
Long-Term Debt	15.03B	14.57B	13.82B	12.76B	13.17B
Long-Term Leases	168M	248M	312M	248M	226M
Accounts Payable, Total	144M	158M	176M	147M	174M
Current Income Taxes Payable	113M	93.6M	72.5M	98M	99.9M
Unearned Revenue, Current	43.3M	60.1M	59.9M	70.1M	92.1M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	763M	854M	811M	941M	840M
Unearned Revenue Non Current	-	-	-	-	-
Deferred Tax Liability Non-Current	2.77B	2.66B	2.11B	2.1B	1.58B
Other Non Current Liabilities	660M	751M	630M	553M	708M
Total Liabilities	20.23B	19.52B	18.41B	18.61B	18.67B
Common Stock, Total	15.4M	15.4M	15.4M	15.4M	15.4M
Additional Paid In Capital	5.53B	5.19B	5.07B	5.02B	4.89B
Retained Earnings	7.9B	7.36B	5.43B	5.49B	6.13B
Treasury Stock	-2.94B	-3.03B	-2.89B	-2.89B	-2.89B
Comprehensive Income and Other	4.77B	4.81B	4.78B	4.53B	3.8B
Total Common Equity	15.28B	14.33B	12.4B	12.17B	11.95B
Minority Interest	3.88B	3.49B	2.75B	2.84B	3.07B
Total Equity	19.16B	17.82B	15.15B	15.01B	15.02B
Total Liabilities And Equity	39.38B	37.35B	33.56B	33.62B	33.69B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.11B	1.09B	1.09B	1.09B	1.09B
ECS Total Common Shares Outstanding	1.1B	1.07B	1.09B	1.09B	1.09B
Book Value / Share	9.55	9	6.99	6.98	7.32
Tangible Book Value	13.56B	13.02B	11.23B	11.05B	11.07B
Tangible Book Value Per Share	7.99	7.77	5.93	5.95	6.51
Total Debt	15.74B	14.94B	14.55B	14.7B	15.18B
Net Debt	12.53B	12.37B	11.66B	11.14B	11.21B
Minority Interest, Total (Incl. Fin. Div)	3.88B	3.49B	2.75B	2.84B	3.07B
Equity Method Investments, Total	1.22B	1.29B	1.09B	926M	1.04B
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Finished Goods, Total	88M	-	-	-	-
Machinery, Total	85.6M	148M	178M	130M	148M
Full Time Employees	1.63K	1.7K	1.35K	1.51K	1.44K
Part Time Employees	-	-	-	162	181

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	748M	-527M	-1.83B	256M	872M
Depreciation, Depletion & Amortization	10M	13.4M	11.1M	17.4M	14.1M
Total Depreciation, Depletion & Amortization	10M	13.4M	11.1M	17.4M	14.1M
Amortization of Deferred Charges, Total	5.9M	7.7M	6.8M	2.8M	3.6M
(Gain) Loss On Sale of Asset - (CF)	-65.6M	-42.6M	42.7M	-1.8M	8.6M
(Gain) Loss on Sale of Investments - (CF)	115M	169M	-14.8M	800K	30.2M
Total Asset Writedown	-744M	944M	3.31B	173M	-155M
(Income) Loss On Equity Investments - (CF)	-193M	-5.9M	150M	42.5M	-15.1M
Stock-Based Compensation (CF)	5.9M	5.4M	5.3M	5.2M	3.6M
Change in Accounts Receivable	-	-	-	-	-
Change in Accounts Payable	-	-	-	-	-
Change in Other Net Operating Assets (Collected)	-61.3M	-29.1M	-58.5M	-55.3M	-50.9M
Other Operating Activities	805M	253M	-848M	379M	97.5M
Cash from Operations	626M	788M	772M	820M	808M
Acquisition of Real Estate Assets, Total	-815M	-757M	-412M	-512M	-714M
Sale of Real Estate Assets, Total	2.02B	1.29B	970M	730M	1.02B
Net Sale / Acquisition of Real Estate Assets	1.2B	530M	559M	218M	303M
Purchase / Sale of Intangible Assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-124M	-121M	49.6M	-65.2M	-118M
Cash from Investing	1.08B	408M	608M	153M	186M
Long-Term Debt Issued, Total	-	225M	813M	1.42B	3.23B
Total Debt Issued	-	225M	813M	1.42B	3.23B
Long-Term Debt Repaid, Total	-1.32B	-854M	-1.15B	-1.21B	-2.68B
Total Debt Repaid	-1.32B	-854M	-1.15B	-1.21B	-2.68B
Issuance of Common Stock	235M	-	-	-	-
Repurchase of Common Stock	-444M	-373M	-126M	-486M	-871M
Common Dividends Paid	-252M	-169M	-	-	-
Common & Preferred Stock Dividends Paid	-252M	-169M	-	-	-
Other Financing Activities, Total	-825M	-592M	-587M	-214M	-185M
Cash from Financing	-2.61B	-1.76B	-1.05B	-496M	-505M
Foreign Exchange Rate Adjustments	16.1M	4.9M	-2M	11M	3.9M
Miscellaneous Cash Flow Adjustments	1.07B	-5.5M	9.1M	-1M	-2.7M
Net Change in Cash	181M	-568M	336M	487M	489M
Supplemental Items
Cash Income Tax Paid (Refund)	92.6M	96.7M	111M	113M	119M
Net Debt Issued / Repaid	-1.32B	-629M	-338M	204M	551M
Levered Free Cash Flow	390M	607M	539M	417M	592M
Unlevered Free Cash Flow	503M	722M	683M	564M	743M
Change In Net Working Capital	176M	-112M	-170M	14.2M	-132M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	1.87	1.52	1.38	1.64	1.75
Return on Total Capital	2.11	1.72	1.57	1.86	1.97
Return On Equity %	6.21	-2.47	-14.72	2.05	7.51
Return on Common Equity	4.45	-4.36	-14.87	0.43	5.51
Margin Analysis
Gross Profit Margin %	73.1	61.64	58.33	63.32	64.77
SG&A Margin	3.73	3.87	4.45	4.38	4.2
EBITDA Margin %	70.02	58.6	54.65	60.09	61.47
EBITA Margin %	69.37	57.77	53.88	58.93	60.57
EBIT Margin %	69.37	57.77	53.88	58.93	60.57
Income From Continuing Operations Margin %	71.09	-28.29	-166.99	20.62	72.38
Net Income Margin %	49.33	-32.62	-126.24	17.09	55.93
Net Avail. For Common Margin %	42.34	-39.92	-136.79	3.53	42.68
Normalized Net Income Margin	14.16	24.63	64.54	23.5	11.65
Levered Free Cash Flow Margin	25.73	37.56	37.11	27.78	37.96
Unlevered Free Cash Flow Margin	33.16	44.71	47.01	37.58	47.71
Asset Turnover
Asset Turnover	0.04	0.04	0.04	0.04	0.05
Fixed Assets Turnover	0.06	0.06	0.05	0.06	0.06
Receivables Turnover (Average Receivables)	15.04	14.83	15.53	16.08	16.7
Short Term Liquidity
Current Ratio	3.11	3.37	2.9	1.79	1.84
Quick Ratio	2.33	2.49	2.37	1.44	1.56
Operating Cash Flow to Current Liabilities	0.39	0.61	0.5	0.28	0.27
Days Sales Outstanding (Average Receivables)	24.27	24.61	23.5	22.76	21.86
Average Days Payable Outstanding	-	-	100.9	107.53	106.74
Long Term Solvency
Total Debt/Equity	82.15	83.85	96.07	97.96	101.04
Total Debt / Total Capital	45.1	45.61	49	49.48	50.26
LT Debt/Equity	79.32	83.16	93.3	86.68	89.18
Long-Term Debt / Total Capital	43.54	45.23	47.58	43.79	44.36
Total Liabilities / Total Assets	51.36	52.28	54.86	55.35	55.41
EBIT / Interest Expense	5.83	5.05	3.4	3.76	3.88
EBITDA / Interest Expense	5.89	5.12	3.45	3.83	3.94
(EBITDA - Capex) / Interest Expense	5.89	5.12	3.45	3.83	3.94
Total Debt / EBITDA	14.82	15.78	18.33	16.31	15.84
Net Debt / EBITDA	11.79	13.07	14.68	12.36	11.7
Total Debt / (EBITDA - Capex)	14.82	15.78	18.33	16.31	15.84
Net Debt / (EBITDA - Capex)	11.79	13.07	14.68	12.36	11.7
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	10.22	6.54	-10.08	3.22	3.89
Gross Profit, 1 Yr. Growth %	5.24	-10.17	-14.89	12.03	6.28
EBITDA, 1 Yr. Growth %	5.67	-10.85	-16.14	13.51	6.28
EBITA, 1 Yr. Growth %	4.96	-11.27	-16.12	12.9	6.78
EBIT, 1 Yr. Growth %	4.96	-11.27	-16.12	12.9	6.78
Earnings From Cont. Operations, 1 Yr. Growth %	18.94	-142.4	430.82	-112.75	264.66
Net Income, 1 Yr. Growth %	0.92	-170.45	248.05	-113.97	240.03
Diluted EPS Before Extra, 1 Yr. Growth %	7.93	-209.63	212.87	-102.66	1.16K
Normalized Net Income, 1 Yr. Growth %	-36.07	85.32	135.62	-62.41	-48.47
Net Property, Plant and Equip., 1 Yr. Growth %	37.9	-3.65	-11.83	-1.05	2.04
Accounts Receivable, 1 Yr. Growth %	147.14	-26.74	24.84	-32.64	39.38
Total Assets, 1 Yr. Growth %	27.53	-5.17	-10.14	0.18	0.21
Common Equity, 1 Yr. Growth %	12.71	-6.21	-13.48	-1.85	-1.8
Tangible Book Value, 1 Yr. Growth %	6.65	-3.97	-13.75	-1.63	0.19
Cash From Operations, 1 Yr. Growth %	1.62	25.92	-2.02	6.27	-1.54
Capital Expenditures, 1 Yr. Growth %	-	-	-	-	-
Levered Free Cash Flow, 1 Yr. Growth %	-613.36	55.55	-11.15	-22.73	41.97
Unlevered Free Cash Flow, 1 Yr. Growth %	917.24	43.64	-5.45	-17.48	31.89
Dividend Per Share, 1 Yr. Growth %	4.55	-	-	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	12.73	8.36	-2.12	-3.66	3.56
Gross Profit, 2 Yr. CAGR %	7.15	-2.77	-12.56	-2.35	9.12
EBITDA, 2 Yr. CAGR %	6.3	-2.94	-13.53	-2.43	9.84
EBITA, 2 Yr. CAGR %	5.89	-3.5	-13.73	-2.69	9.8
EBIT, 2 Yr. CAGR %	5.89	-3.5	-13.73	-2.69	9.8
Earnings From Cont. Operations, 2 Yr. CAGR %	-20.58	-28.99	50.02	-17.74	-31.82
Net Income, 2 Yr. CAGR %	-25.99	-15.68	56.58	-30.26	-31.07
Diluted EPS Before Extra, 2 Yr. CAGR %	-30.78	8.77	85.2	-71.15	-42.18
Normalized Net Income, 2 Yr. CAGR %	17.83	8.85	108.96	-5.9	-55.99
Net Property, Plant and Equip., 2 Yr. CAGR %	26.99	15.27	-7.83	-6.6	0.48
Accounts Receivable, 2 Yr. CAGR %	41.14	34.56	-4.37	-8.3	-3.1
Total Assets, 2 Yr. CAGR %	24.41	9.97	-7.69	-5.12	0.2
Common Equity, 2 Yr. CAGR %	12.52	2.82	-9.92	-7.85	-1.83
Tangible Book Value, 2 Yr. CAGR %	6.05	1.2	-8.99	-7.89	-0.73
Cash From Operations, 2 Yr. CAGR %	0.99	13.12	11.08	2.04	2.29
Capital Expenditures, 2 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 2 Yr. CAGR %	-3.6	182.58	17.56	-17.14	4.74
Unlevered Free Cash Flow, 2 Yr. CAGR %	-0.55	282.25	16.54	-11.67	4.33
Dividend Per Share, 2 Yr. CAGR %	28.17	-	-	-	-
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	14.94	10.63	1.83	-0.37	-1.2
Gross Profit, 3 Yr. CAGR %	12.45	1.04	-6.99	-5.03	0.44
EBITDA, 3 Yr. CAGR %	11.87	0.24	-7.55	-5.32	0.39
EBITA, 3 Yr. CAGR %	11.59	-0.17	-7.9	-5.64	0.37
EBIT, 3 Yr. CAGR %	11.59	-0.17	-7.9	-5.64	0.37
Earnings From Cont. Operations, 3 Yr. CAGR %	-16.14	-35.57	38.85	-34.05	35.13
Net Income, 3 Yr. CAGR %	-23.43	-27.2	35.25	-30.03	18.25
Diluted EPS Before Extra, 3 Yr. CAGR %	-29.15	-19.32	54.69	-54.98	1.51
Normalized Net Income, 3 Yr. CAGR %	-3.67	37.03	40.8	17.96	-23.01
Net Property, Plant and Equip., 3 Yr. CAGR %	27.24	15.82	5.42	-5.63	-3.8
Accounts Receivable, 3 Yr. CAGR %	37.69	13.43	31.24	-14.91	5.44
Total Assets, 3 Yr. CAGR %	27.41	13.65	2.81	-5.14	-3.38
Common Equity, 3 Yr. CAGR %	17.68	5.9	-2.93	-7.31	-5.88
Tangible Book Value, 3 Yr. CAGR %	13.13	2.6	-4.05	-6.6	-5.27
Cash From Operations, 3 Yr. CAGR %	9.8	8.7	7.83	9.45	0.83
Capital Expenditures, 3 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 3 Yr. CAGR %	-15.94	13.06	92.15	2.21	-0.85
Unlevered Free Cash Flow, 3 Yr. CAGR %	-11.62	12.42	139.95	3.87	0.96
Dividend Per Share, 3 Yr. CAGR %	-3.19	-	-	-	-
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	26.36	16.42	7.79	4.67	2.52
Gross Profit, 5 Yr. CAGR %	22.9	10.36	1.69	-0.33	-0.85
EBITDA, 5 Yr. CAGR %	22.21	9.71	0.92	-0.84	-0.96
EBITA, 5 Yr. CAGR %	22.11	9.47	0.67	-1.19	-1.2
EBIT, 5 Yr. CAGR %	22.11	9.47	0.67	-1.19	-1.2
Earnings From Cont. Operations, 5 Yr. CAGR %	3.65	-21.56	5.83	-28.96	4.47
Net Income, 5 Yr. CAGR %	0.44	-16.67	1.94	-28.44	3.29
Diluted EPS Before Extra, 5 Yr. CAGR %	-9.34	-15.47	4.06	-46.53	4.35
Normalized Net Income, 5 Yr. CAGR %	37.71	31.84	31.3	17.9	-11.57
Net Property, Plant and Equip., 5 Yr. CAGR %	42.23	23.47	11.84	6.27	3.42
Accounts Receivable, 5 Yr. CAGR %	55.68	22.19	19.01	4.18	16.24
Total Assets, 5 Yr. CAGR %	37.24	22.08	12	5.73	1.76
Common Equity, 5 Yr. CAGR %	33.76	16.86	5.75	0.17	-2.49
Tangible Book Value, 5 Yr. CAGR %	30.72	14.68	3.7	-1.73	-2.73
Cash From Operations, 5 Yr. CAGR %	28.47	16.85	10.31	5.98	5.58
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	-
Levered Free Cash Flow, 5 Yr. CAGR %	42.69	19.09	-3.87	-0.15	50.74
Unlevered Free Cash Flow, 5 Yr. CAGR %	39.39	19.47	-1.28	2.08	71.96
Dividend Per Share, 5 Yr. CAGR %	7.13	-	-	-	-18.32