(Reuters) -Aroundtown, one of Germany’s largest listed landlords, posted a half year profit of 578 million euros ($677 million), compared with a loss the previous year, benefiting from a recovery in German commercial and residential property prices after years of declines.
The result was an improvement on the 330 million euro loss in the same period in 2024 and comes after Aroundtown posted its first annual profit in 3 years in March.
Since then the company also tripled its first quarter profit from the year prior.
On Wednesday Aroundtown also confirmed its full year guidance.
Its funds from operations (FFO I), a key metric for real estate companies, remained consistent in the first half year with the same period a year earlier.
Germany’s largest real estate group Vonovia raised its full year guidance earlier in August.
($1 = 0.8542 euros)
(Reporting by Marleen Kaesebier in Gdansk, editing by Matt Scuffham)
