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Aroundtown's FFO I climbs 54% YOY in Q1

Aroundtown SA's funds from operations I jumped 54% year over year to €91 million in the first quarter from €59 million in the prior-year period.

The Luxembourg-based company's FFO I per share came in at 9.4 cents, up 8% from the comparable period in 2017. EPS rose 19% on an annual basis to 31 cents.

Year over year, net profit grew 50% to €371 million during the three months and net rental income climbed 43% to €139 million.

Aroundtown's adjusted EBITDA surged 43% to €134 million during the quarter from €93 million, and net asset value, as defined by the European Public Real Estate Association, increased to €7.6 billion, or €6.9 per share, from December 2017.

The company's investment property value came in at €10.9 billion, reflecting an 11% increase from 2017-end. The loan-to-value ratio stood at 35%.