Aroundtown SA

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Aroundtown SA
Société Anonyme
ISINLU1673108939
IndustryReal Estate, Economic
Founded2004; 15 years ago (2004)
Headquarters,
Luxembourg
Area served
Germany, Netherlands, London
Key people
  • Shmuel Mayo (CEO)
  • Eyal Ben David (CFO)
ProductsOffice, hotel, retail
Number of employees
~400[1] (2018)
Websitewww.aroundtown.de

Aroundtown SA (former Aroundtown Property Holdings Plc) is a Luxembourg-based real estate company. It invests in commercial and residential, income generating, properties in largest cities and metropolitans of Germany, Netherlands and London.[2][3]

Company[edit]

The focus of Aroundtown's business model is buying, repositioning and optimizing office and hotel properties. In addition, Aroundtown owns 38% in Grand City Properties S.A., the 4th Largest residential company with 85,000 apartments in Germany.

The company's total asset value is €17 billion, equity €8.5 billion,[1] and funds from operations (FFO1) of €380 million. The net profit in 2017 was €1.54 billion.[4] The current global rating is BBB+ by S&P.[5] This credit rating is due to the business profile and the conservative financial policy with loan-to-value (LTV) of 37%.[1]

Over the last 3 years the company has raised €11 billion in equity and bonds in 2016–2018,[6] working with global banks such as JPM, BAML, DB, GS, MS, Citibank, UBS, SocGen.

The majority of the properties are portfolio is located in the inner-circle of Berlin, Frankfurt, Munich, Cologne, Hamburg, Amsterdam, London[7]and other areas.[8] Approximately half of the portfolio is offices, the remaining is primarily hotels and residential (through 38% holdings in Grand City Properties).[3] Aroundtown owns over 100 hotels, mainly in Germany and other European cities. The company owns hotels such as Hiltons in Berlin/London/Dublin/Edinburgh, Interconti Frankfurt,[9] Sheraton Rome, Crown Plaza Berlin[10]/Frankfurt/Dusseldorf-Neus and Mercure Munich.

The largest single shareholder of Aroundtown SA, is Yakir Gabay with 35%.[11] The remaining shareholders are international institutional investors such as BlackRock, Fidelity, Allianz, Seb, BNP, Dekabank, JP Morgan, Union Investment, Janus Henderson and others.

History[edit]

The group's business activity was founded in 2004 by Yakir Gabay, who is 35% shareholder. The first acquisitions started in the center of Berlin, in neighbourhoods such as Mitte and Charlottenburg.

The company's stock was listed on the Euronext Stock Exchange in mid 2015[12] at a price per share of €3.2 and market cap of €1.5 billion.[13] As of mid 2018, the company is listed on the Frankfurt Prime Standard and is included in the MDAX index,[14] at a share price per share of €7.8 and market cap of €8.6 billion.[15]

Management[edit]

Aroundtown is managed by the board, and has been led in the last decade by the CEO Shmuel Mayo and CFO Eyal Ben David. The chairman of the advisory board is Gerhard Cromme, who served in past positions as the chairman of Siemens and ThyssenKrupp, as well as member on the boards of Lufthansa, Allianz, BNP Paribas, E.ON, Volkswagen and Axel Springer.[16]

Sustainability[edit]

ESG, Social, Governance)[17] considerations form the core of Aroundtown's business model.

The company mission statement is defined in a strict code of conduct that applies to its employees and suppliers.

The EPRA Association has awarded Aroundtown in September 2018 the EPRA BPR Gold Award for the second consecutive year.[18] In addition, the company won the sBPR Gold.[19]

The company has published a sustainability report in 2017, and in 2018 an EPRA report.[20]

References[edit]

  1. ^ a b c https://www.aroundtown.de/fileadmin/user_upload/04_investor_relations/downloads/companypresentation.pdf
  2. ^ "Aroundtown buys property worth €1.4bn in H1 › THOMAS DAILY".
  3. ^ a b "Company – Aroundtown SA – Largest German Listed Commercial Real Estate Company". www.aroundtown.de.
  4. ^ "Aroundtown SA announces its FY 2017 results with record profitability and outstanding performance – dgap.de". www.dgap.de.
  5. ^ "Rating – Aroundtown SA – Largest German Listed Commercial Real Estate Company". www.aroundtown.de.
  6. ^ "Share – Aroundtown SA – Largest German Listed Commercial Real Estate Company". www.aroundtown.de.
  7. ^ reserved, Copyright Haufe-Lexware GmbH & Co KG- all rights. "Aroundtown expandiert weiter und kauft Hilton Hotel in London". Haufe.de News und Fachwissen.
  8. ^ "Aroundtown SA, AT1:STU profile – FT.com". markets.ft.com.
  9. ^ Kingston, Charles (June 19, 2018). "Aroundtown features in prominent German hotel deals". REFIRE.
  10. ^ https://www.bloomberg.com/news/articles/2018-02-02/germany-s-ugly-ducklings-prove-pearls-for-this-property-investor
  11. ^ "AROUNDTOWN SA : Shareholders Board Members Managers and Company Profile | LU1673108939 | MarketScreener". www.marketscreener.com.
  12. ^ "Aroundtown Property Holdings Plc. : ANNOUNCES STRONG Q1 2015 FIGURES, LISTING ON EURONEXT PARIS SE AND INTENTION TO RAISE EQUITY AND/OR BONDS – dgap.de". www.dgap.de.
  13. ^ https://www.euronext.com/ipo-detail/604794/CY0105562116-ALXP/Aroundtown%20Property%20Holdings
  14. ^ AG, aktiencheck de. "Aroundtown-Aktie: Aroundtown wird in den MDAX aufgenommen – Kaufvotum bestätigt! Aktienanalyse (First Berlin) | Aktien des Tages | aktiencheck.de". www.aktiencheck.de.
  15. ^ http://en.boerse-frankfurt.de/stock/Aroundtown-Share
  16. ^ "Management/Board – Aroundtown SA – Largest German Listed Commercial Real Estate Company". www.aroundtown.de.
  17. ^ "Corporate Governance – Aroundtown SA – Largest German Listed Commercial Real Estate Company". www.aroundtown.de.
  18. ^ "Record number of companies win Awards for sustainability best practice recommendations". EPRA - European Public Real Estate.
  19. ^ "Aroundtown SA receives EPRA sBPR Gold Award and Sustainability most improved – dgap – Börsennachrichten – Börse aktuell". www.stock-world.de.
  20. ^ https://www.aroundtown.de/fileadmin/user_upload/05_sustainability/Reports/AT_EPRA_sBPR_Report_2017.pdf