Strong operational results with maximum occupancy and 6.62% LfL rental growth - New rental season at top speed with once again high booking rates

Reconfirmation EPS guidance at 2.21 EUR - Reinforcement with new additional reference shareholder

Solid H1 2024 results thanks to strong real-estate segment and pricing power

Earnings and dividend guidance 2024 confirmed at 2.21 EUR EPS and 1.768 EUR DPS based on strong first half with EPRA profit at 1.13 EUR/share after adjustment IFRIC 21
Net rental income +20% YoY thanks to 6.62% LfL rental growth, 98% occupancy rate and new deliveries
Upward revaluation of portfolio (+1.4% YtD) due to a.o. rising rental income as well as decrease in the average valuation yield
Debt ratio and LTV in downward trend after execution of divestments and contributions in-kind, pro forma at 50.43% and 51.35% respectively. Further reduction below 50% remains priority
For the full half-year report click here

Operational outperformance thanks to rock-solid European platform

High retention rates combined with increasing shortages due to a.o. reduced development activity results in lightning-fast rental for new academic year
Prospects for occupancy and LfL rental growth remain high at 98% and at least 5.5% respectively without losing sight of affordability
More efficient operational model ensures flawless integration of new acquisitions and new deliveries (>1,700 additional units seamlessly integrated via plug & play)

Strengthening shareholder structure

Katoen Natie Group (via subsidiary Car Logistics Brussels) is new additional reference shareholder
Purely financial investment focused on long-term growth with no board representation
Confirmation of confidence in student accommodation, management and strategy

Divestments and refinancings on track

Remaining 20 MEUR of announced divestments still to be realized by September 2024
Sales do not concern prime assets but less efficient, non-core and non-sustainable assets
Bridge loan fully repaid in September (43 MEUR remaining at present) via balance of divestments, operating cash flow and new financing and with positive impact on cost of debt
Refinancing on track: remaining maturities up to and including Q2 2025 fully covered. Negotiations ongoing for Q3 & Q4 2025

The PDF file below contains the full press release.

___________________

_{For more information, please contact:}

_{Xior Student Housing NV
Frankrijklei 64-68
2000 Antwerp
www.xior.be}

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

_{Xior Investor Relations
Sandra Aznar
IR & ESG Director
ir@xior.be
T +32 3 257 04 89}

Xior Press Release - H1 2024 results - EN - 08.08.2024.pdf

PDF - 922 Kb

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Sandra Aznar

IR & ESG director

Christian Teunissen

CEO

Frederik Snauwaert

CFO

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 September 2024, Xior Student Housing held a property portfolio worth approximately 3.3 billion EUR. 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
This press release contains forward-looking information, projections, convictions, opinions and estimates produced by Xior 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.