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EQS-News: DIC Asset AG / Key word(s): Quarterly / Interim Statement
DIC Asset AG publishes results for the first quarter of 2023 – high letting result – focus on long-term cash flows
Frankfurt am Main, 11 May 2023. DIC Asset AG (“DIC”), ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, published its consolidated financial statements for the first quarter of 2023 today. What defined the first quarter was a steep year-on-year increase in the letting result that reflects the increased share of logistics property lettings. At the same time, significant like-for-like rental growth was accomplished for the entire real estate platform, most notably as a result of index-based rent reviews and subsequent lettings at higher levels. Especially due to the currently rather muted transactions market, the funds from operations (FFO) (after non-controlling interests, before taxes) experienced a year-on-year decline, as expected.
“Our promise to our stakeholders has been, and continues to be, that they can rely on us to create value. Decisive for our success are the quality and sustainability of our office and logistics real estate. They are what secures our long-term income. At the same time, we expect transaction activities to start normalising by mid-year. We are superbly positioned for it with our ‘dynamic performance’ approach,” commented Sonja Wärntges, CEO of DIC. This year, the company’s focus is moreover on optimising its financial structure, an effort that is progressing according to schedule.
Milestones of the first three months of 2023
Forecast for 2023 unchanged
DIC’s forecast for its key earnings figures for the current financial year, which was issued in the context of the publication of the annual figures for 2022, remains unchanged. DIC’s focus in 2023 will be specifically on the continued portfolio and cash flow optimisation, making it reasonable to expect FFO (after non-controlling interests, before taxes) in a bandwidth of EUR 90 to 97 million.
Invitation to attend investor call / webcast on 11 May 2023
The Management Board of DIC Asset AG invites you to attend the presentation of the financial statement for the first three months of 2023 on 10 May 2022 at 10:00 CEST.
To attend the conference call, please register at:
The webcast (incl. replay) is available under the link below:
For more details on DIC Asset AG, visit the company’s homepage at
About DIC Asset AG:
DIC Asset AG is Germany’s leading listed specialist for office and logistics real estate with 25 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 357 assets with a combined market value of EUR 14.1 billion on site, always close to our properties and their occupiers.
The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.
In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.
DIC Asset AG has been SDAX-listed since June 2006.
For more details, go to www.dic-asset.de/en.
IR Contact DIC Asset AG:
DIC Asset AG at a glance
* All per-share figures adjusted in accordance with IFRS (no. of shares Q1 2023: 81,152k; Q1 2022: 81,861k)
*** Commercial Portfolio without properties to be repositioned and without warehousing
**** Incl. full value of the Institutional Business
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|Company:||DIC Asset AG|
|Neue Mainzer Straße 20|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1492|
|Fax:||+49 69 9454858-9399|
|ISIN:||DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9|
|WKN:||A1X3XX, A12T64, A2GSCV, A2NBZG|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||1629937|
|End of News||EQS News Service|