EQS-News DIC Assets
EQS-News: DIC Asset AG / Key word(s): Annual Report/Annual Results
Frankfurt am Main, 15 February 2023. DIC Asset AG (“DIC”), ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, published its consolidated financial statements for 2022 today. The company concluded the 2022 financial year with the highest FFO earnings since its initial public offering, and thereby laid the groundwork for a prosperous future at the same time.
By taking over and integrating the listed company VIB Vermögen AG (“VIB”), DIC strengthened the logistics asset class as its second main pillar in addition to office real estate. At year-end, the existing property portfolio (Commercial Portfolio) was worth EUR 4.5 billion, more than twice as much as the year before. Together with the Institutional Business unit, DIC now has EUR 14.7 billion in assets under management, a year-on-year increase by 28%.
Sonja Wärntges, CEO of DIC Asset AG, commented: “By completing the most successful year in our company’s history, we set a clear signal for the future of our company. This is demonstrated unambiguously by the fact that our position in the logistics and office sectors is stronger than ever, now that we successfully acquired and integrated VIB. With our reliable and predictable sources of income, we are very well positioned. Driven by our ‘spirit to create excellence,’ we will keep generating stable and sustainable values for the benefit of our stakeholders.”
The company will propose to its shareholders at the upcoming annual general meeting to pay out a dividend of EUR 0.75 per share on the basis of its successful performance in 2022. This implies a high payout ratio of around 55%. As in prior years, shareholders will have the choice of a cash or a scrip dividend again. The dividend yield relative to the share price at year-end 2022 approximates 9.8%.
Letting performance increased by 21% year-on-year – like-for-like rental growth at 5.8%
Transaction business dominated by VIB takeover
Commercial Portfolio larger and more diversified
Institutional Business maintains stable level despite challenging market environment
Substantial growth in balance sheet and real estate assets
Forecast for 2023 – focus on portfolio and cashflow optimisation1
The full-length 2022 Annual Report of DIC Asset AG was published on 15 February 2023 and is available on the company’s homepage under the link below: https://www.dic-asset.de/en/ir/publications
Invitation to attend conference call on 15 February 2023
Please use the link below to register for the conference call:
About DIC Asset AG:
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.
IR/PR Contact DIC Asset AG:
D-60311 Frankfurt am Main
DIC Asset AG at a glance
*All per-share figures adjusted in accordance with IFRS. (Total no. of shares in 2022: 82,689k; 2021: 81,504k)
1Not included in the forecast is inorganic growth, e. g. via the acquisition or takeover of companies.
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|DIC Asset AG
|Neue Mainzer Straße 20
|60311 Frankfurt am Main
|+49 69 9454858-1492
|+49 69 9454858-9399
|DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9
|A1X3XX, A12T64, A2GSCV, A2NBZG
|Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
|EQS News ID:
|End of News
|EQS News Service