DIC Asset AG / Quarter ResultsRelease of an Ad hoc announcement according to § 15 WpHG, transmitted byDGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.----------------------------------------------------------------------DIC Asset AG (German Securities ID 509840 / ISIN DE0005098404) todaypresented its interim report for the first quarter of the 2009 financialyear. The stable operating performance is reflected in operating profitbefore depreciation and amortisation (EBDA): at EUR 9.9 million, thisfigure almost matched the EUR 10.2 million posted in the first quarter of2008. In a market environment that is increasingly challenging, DIC AssetAG generated a solid level of consolidated net income of EUR 2.6 million(Q1 2008: EUR 3.3 million).At EUR 43.9 million, total revenues for the first quarter of 2008 onceagain showed a year-on-year increase (Q1 2008: EUR 39.1 million). Stablerental income of EUR 33.2 million (Q1 2008: EUR 33.8 million) was the maincontributor, reflecting the benefits of a diversified real estate portfolioof 1.3 million square metres (comprising 64 per cent office space, 15 percent logistics, 14 per cent retail, and the remaining 7 per cent in hotels,residential, and other properties). 20 per cent of rental income isgenerated from public-sector tenants, followed by 19 per cent retail, 11per cent IT and multimedia sector, 10 per cent banks and insurancecompanies, and 9 per cent industrial companies. The remaining 31 per centrelate to tenants from other sectors.The profitability of the portfolio is once again highlighted by the factthat the majority of consolidated net income was generated through realestate management. Due to a necessary expansion in asset management andproperty management resources, total expenses rose to EUR 23.9 million (Q12008: EUR 17.2 million), in line with the budget.DIC Asset AG's total assets amounted to EUR 2.2 billion as at 31 March2009. Long-term assets remained stable, at EUR 2.1 billion. Long-term fixedinterest rate agreements or hedges are in place for close to 90 per cent offinancial debt of EUR 1.6 billion, with around 86 per cent having amaturity of over four years. Only approx. EUR 38 million (or just 2 percent of overall financial debt) will fall due within the next 12 months.DIC Asset AG reduced interest expenses by approx. EUR 1.6 million duringthe first three months of 2009, thanks to the optimisation of portfoliofinance: accordingly, the net financial result improved by EUR 0.8 million,to EUR -17.7 million. The average interest rate once again decreased to4.85 per cent, down 12 basis points compared to 31 December 2008 (Q1 2008:5.25 per cent).Cash flow from continuing operations amounted to EUR 9.1 million (Q1 2008:EUR 10.4 million). FFO (funds from operations, comprising earnings beforeinterest and taxes, plus profits from disposals and development projects)of EUR 10.3 million reflected the strength of DIC Asset AG's operatingbusiness (Q1 2008: EUR 11.0 million). At EUR 9.9 million, operating profitbefore depreciation and amortisation (EBDA) almost matched the EUR 10.2million figure reported for the first quarter of 2008. This corresponds toan unchanged operating profit of EUR 0.33 per share. Reflecting thedevelopment of consolidated net income, earnings per share declined to EUR0.09 (Q1 2008: EUR 0.11).DIC Asset AG has adapted its business planning for 2009 to the difficulteconomic environment. Its selling strategy continues to focus on theselective marketing of small- to medium-sized properties. Based on itscurrent portfolio, the Company is consistently expanding its active assetmanagement and property management capabilities, in order to maintain itsrental business on the high level achieved in the previous year.Accordingly, investments of EUR 35.6 million during the first quarterconcentrated on measures to preserve and enhance portfolio value. Approx.196,000 square metres of commercial floor space - equivalent to annualrental income of EUR 19.5 million - was let via the DIC ONSITE real estatemanagement platform in 2008. During the first three months of 2009, newrentals amounting to approx. 65,000 square metres (generating just underEUR 6 million in annual rental income) were contracted via the platform.Quarterly rentals were thus clearly higher than the average of the firstquarter 2008 of 49,100 square metres.Investor Relations:Ina LackGrünhof · Eschersheimer Landstraße 22360320 Frankfurt am MainFon. +49 69 9454858-58Fax +49 69 9454858-99ir@dic-asset.de 12.05.2009 Financial News transmitted by DGAP---------------------------------------------------------------------- Language: EnglishIssuer: DIC Asset AG Eschersheimer Landstr. 223 60320 Frankfurt DeutschlandPhone: +49 69 9454858-0Fax: +49 69 9454858-99E-mail: info@dic-asset.deInternet: www.dic-asset.deISIN: DE0005098404WKN: 509840Indices: S-DAXListed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hannover, Stuttgart, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------