DGAP-News DIC Assets
DGAP-News: DIC Asset AG / Key word(s): Change in Forecast
2016-09-29 / 07:00
DIC Asset AG Raises FFO Forecast for 2016
– FFO forecast for 2016 raised to EUR 46-47 million
– Rental income of c. EUR 109-111 million now anticipated
– Positive net absorption and rental income from warehousing for retail fund leads to revision of outlook
Frankfurt-based real estate company DIC Asset AG (German securities code number: WKN A1X3XX / ISIN DE000A1X3XX4) has raised its FFO (funds from operations) year-end forecast for 2016 from EUR 43-45 million to EUR 46-47 million. The upward revision of the annual forecast is explained by the successful letting performance that led to a better-than-expected take-up. For the 2016 financial year, DIC Asset is now projecting a rental income of approx. EUR 109-111 million rather than EUR 105-107 million. The increase is due not least to the rent revenues expected from the property that were notarised in July 2016 in conjunction with the warehousing for the planned new retail property fund. Moreover, the transfer of rights and duties for the properties that were sold out of the commercial portfolio will be delayed, so that the company will collect rental income from them longer than predicted.
Aydin Karaduman, CEO of DIC Asset AG: “The FFO growth in 2016 demonstrates that our property management platform and our active asset management have succeeded in enhancing our cash flow from the commercial portfolio. During the marketing stage of the planned new retail property fund, we additionally benefit from the lucrative rental income generated by the recently acquired properties.”
DIC Asset will publish its quarterly statement for Q3 on 04 November 2016.
About DIC Asset AG:
DIC Asset AG
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|Company:||DIC Asset AG|
|Neue Mainzer Straße 20 * MainTor|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1221|
|Fax:||+49 69 9454858-9399|
|ISIN:||DE000A1X3XX4, DE000A1TNJ22, DE000A12T648|
|WKN:||A1X3XX, A1TNJ2, A12T64|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|