HAMBORNER REIT AG / Key word(s): Change in Forecast
Ad-hoc notification pursuant to Article 17 MAR
HAMBORNER REIT AG: Adjustment of guidance relating to NAV per share due to an expected decrease in the portfolio valuation as of 30 June 2023
HAMBORNER REIT AG, Goethestraße 45, 47166 Duisburg, 26 June 2023
Considering the current developments on the property markets and in order to create additional transparency for the stakeholders, HAMBORNER REIT AG has decided to commission a third-party expert with an additional reappraisal of its property portfolio as at 30 June 2023.
The valuation of HAMBORNER REIT AG's real estate portfolio is currently being carried out by the external appraiser Jones Lang LaSalle. According to an initial indicative draft assessment and based on current knowledge, the market value of the real estate portfolio (like-for-like) is expected to decrease by 5.5% to 6.0% compared to the year-end 2022. The currently expected decline in the value of the real estate portfolio is due to a negative value development of both the office and the retail portfolio.
The result of the analysis of the initial indicative draft assessment leads to an adjustment in the full year guidance relating to the Net Asset Value (NAV) per share. The company has so far assumed a slight decrease in the NAV per share compared to the end of 2022. The company now expects that the NAV per share as of 31 December 2023 will be in a range between 7.0% and 12.0% below the level of the previous year (31 December 2022: EUR 11.86).
In view of the continuing dynamic and uncertain market environment, the range of this adjusted forecast already takes into account further possible value adjustments as part of the regular external portfolio valuation at the end of 2023.
HAMBORNER REIT AG
The Management Board
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