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European Residential Real Estate Investment Trust (T:ERE.UN)

Business Focus: Residential REITs

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