Sector: Real Estate | Industry: Residential REITs |
Company Contact | |
Address: | 11 Church St Suite 401 TORONTO ON M5E 1W1 |
Tel: | N/A |
Website: | https://www.eresreit.com |
IR: | See website |
Key People | ||
Mark Kenney Chief Executive Officer, Trustee | Jenny Chou Chief Financial Officer |
Business Overview |
European Residential REIT is a Canada-based open-ended real estate investment trust. The Company's objectives are to maintain strong financial management with a conservative approach to its capital structure, leverage and coverage ratios to provide Unitholders with long-term, stable and growing cash distributions and maintain a focus on maximizing occupancy and responsibly growing occupied AMR in accordance with local conditions in each of its markets. It owns a portfolio of 158 multi-residential properties, comprised of approximately 6,900 suites and ancillary retail space located in the Netherlands, and owns one office property in Germany and one office property in Belgium. Its Commercial properties are located in Belgium and Germany and managed by Maple Knoll. Its commercial properties include Brussels, Belgium and Greater Munich, Germany. Its residential properties include Gelderland, Doorwerth; Groningen, Hoogezand; Limburg, Vaals; Limburg, Venray, and others. |
Financial Overview |
For the fiscal year ended 31 December 2023, European Residential REIT revenues increased 7% to EUR95.7M. Net loss totaled EUR114.2M vs. income of EUR116.4M. Revenues reflect Revenue from investment properties increase of 8% to EUR89.7M. Net loss reflects FV Adjustments on Investment Property increase from EUR79.4M to EUR230.2M (expense), Net movement in fair value of class b LP decrease of 69% to EUR46.3M (income). |
Reporting Currency: | Euro |
Enterprise value: | $1,667M as of Dec 31, 2023 |
Annual revenue (TTM): | $140.54M as of Dec 31, 2023 |
EBITDA (TTM): | $98.85M as of Dec 31, 2023 |
Net annual income (TTM): | -$167.78M as of Dec 31, 2023 |
Free cash flow (TTM): | $68.38M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $1,448M as of Dec 31, 2023 |
Shares outstanding: | 233,722,414 as of Mar 18, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |