Interim results first quarter 2023 – ending on 31 March 2023

Results in line with expectations - Increased LFL rental growth and stable valuations - Strong start of rental season for the upcoming academic year

Key Figures – Strong Q1 2023 results with increased LfL rental growth

  • EPRA earnings (group share) amount to 0.53 EUR per share1 after IFRIC 21 adjustment, an increase of 13% year-on-year.
  • EPRA earnings – group share of 18,453 KEUR after IFRIC 21 adjustment, up by 42% year on year.
  • Net rental result increases to 34,096 KEUR, up 37% compared to Q1 2022 driven by the acquisition of Basecamp and a higher than expected year-on-year 5.6% like for like rental growth in Q1 2023.
  • LTV of 52.64% compared to 51.39% on 31/12/2022. Full completion of the divestment programme is expected before the end of 2023, which would have a positive impact on the LTV of around 3.8% pro forma per 31/03/2023.
  • Cost of debt under control: 2.37% compared to 2.09% for full year 2022.
  • Occupancy rate of 97.8% remains high and stable.
  • Valuations remain stable: Fair Value of the portfolio increases by c. 35.5 MEUR to more than 3.06 billion EUR (+1.17% year to date). Portfolio revaluation limited to only -0.3% vs. Q4 2022 (-8.6 MEUR).
  • EPRA NAV/share of 43.03 EUR compared to 43.01 EUR as at 31/12/2022 and EPRA NTA/share of EUR 42.97 compared to 42.96 EUR as at 31/12/2022.
  • The property portfolio rose to 3.06 billion EUR with 18,208 lettable student units. If the entire committed pipeline is completed, the portfolio will rise to approx. 3.6 billion EUR with over 26,000 lettable student units.
  • Confirmation of earnings forecast for 2023: EPS of 2.20 EUR (+6.3%) & DPS of 1.76 EUR for (+6%).

Portfolio and operational update – Again a huge demand for student rooms

  • As in the past two years, there is once more a massive search for student rooms and the rental season is already running at full speed. In some of the countries applications were already flooding in at the end of last year which led to an earlier start of the rental season for the next academic year. Again high retention rates were observed (up to 70%) leading to some of the student cities like Ghent and Leuven to be fully rented out in no-time. This high interest and fast rental activity enables Xior to pass on inflation without having an effect on the increasing demand for student rooms.
  • Xior submitted its CO2 reduction targets to SBTi; a clear commitment towards net-zero carbon.
  • Divestment programme: Xior announced a further acceleration of its divestment programme with 170 MEUR of additional identified divestments.


1 Figures per share are calculated on the basis of the weighted average number of shares taking into account the dividend entitlement of the shares concerned, unless otherwise indicated.

Find the full press release in the PDF file added below. 

___________________

For more information, please contact:

Xior Student Housing NV
Frankrijklei 64-68
2000 Antwerp, Belgium 
www.xior.be

Christian Teunissen, CEO
Frederik Snauwaert, CFO
info@xior.be
T +32 3 257 04 89

Xior Investor Relations
Sandra Aznar
Head of Investor Relations
ir@xior.be
T +32 3 257 04 89

Xior - Pressrelease - Q1 2023 - EN - 26.04.2023.pdf

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Sandra Aznar

Head of Investor Relations

Christian Teunissen

CEO

Frederik Snauwaert

CFO

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About Xior Student Housing NV

Xior Student Housing NV is the first Belgian public regulated real estate company (RREC) specialising in the student housing segment in Belgium, the Netherlands, Spain, Portugal, Germany, Poland, Denmark and Sweden. Within this property segment, Xior Student Housing offers a variety of accommodation, ranging from rooms with shared facilities to en-suite rooms and fully equipped studios. Since 2007, as owner-operator, Xior Student Housing has built high-quality, reliable student accommodation for students looking for the ideal place to study, live and relax. A place with that little bit extra, where every student immediately feels at home.

Xior Student Housing has been accredited as a public RREC under Belgian law since 24 November 2015. Xior Student Housing's shares have been listed on Euronext Brussels (XIOR) since 11 December 2015. On 30 June 2025, Xior Student Housing held a property portfolio worth approximately EUR 3.5 billion. More information is available at www.xior.be.

Xior Student Housing NV, a Public RREC under Belgian law (BE-REIT)
Frankrijklei 64-68, 2000 Antwerp, Belgium
BE 0547.972.794 (Antwerp Register of Legal Entities, Antwerp Division)

Disclaimer
in relation to the expected future performance of Xior and of the market in which it operates ('forward-looking statements'). By nature, forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, that appear justified at the time at which they are made but which may or may not turn out to be accurate, and there is a risk that the forward-looking statements will not be realised. Some events are difficult to predict and may depend on factors outside of Xior's control. In addition, the forward-looking statements are only valid on the date of this press release. Statements in this press release relating to past trends or activities may not be interpreted as an indication that such trends or activities will persist in future. Neither Xior nor its representatives, officers or advisers can guarantee that the parameters upon which the forward-looking statements are based are free of errors, nor can they indicate, guarantee or predict whether the expected results set out in such a forward-looking statement will ultimately be achieved. Actual profits, the financial situation and Xior's performance or results may therefore differ substantially from the information projected or implied in forward-looking statements. Xior expressly does not accept any obligations or guarantees as to public updates or reviews of forward-looking statements unless required to do so by law. This press release has been prepared in Dutch and has been translated into English and French. In case of discrepancies between the different versions of this press release, the Dutch version will prevail.

Contact

Frankrijklei 64-68 2000 Antwerp, Belgium Belgium

+32 3 257 04 89

info@xior.be

www.xior.be