DGAP-News DIC Assets
DGAP-News: DIC Asset AG / Key word(s): Half Year Results
03.08.2017 / 07:30
– FFO increase by up to 8 percent, to EUR 29.8 million
– Consolidated income maintains prior-year level at EUR 20 million
– Financial results notably improved
– Annual targets for 2017 adjusted
Frankfurt/Main, 03 August 2017. This Thursday, DIC Asset AG (WKN A1X3XX / ISIN DE000A1X3XX4) presented its figures for the first half-year of 2017. The company backed the successful start into the first quarter with a solid mid-year performance as of the key date, 30 June. Compared to the prior-year period, the FFO experienced an 8-percent increase, adding up to EUR 29.8 million (mid-year 2016: EUR 27.7 million). The figures are primarily explained by the improved funding terms for the Commercial Portfolio. Since this boosted the financial results, the profit for the period remained stable year on year at EUR 20.0 million despite a decrease in sales, matching last year’s level (mid-year 2016: EUR 20.2 million). Assets under management rose to EUR 3.4 billion by the end of the first semester, up from EUR 3.2 billion at the end of the prior-year period.
“The increase in funds from operations shows that we are headed very much in the right direction with the growth strategy of our hybrid business model. The achievements of this strategy are perfectly obvious to us, and we will continue to optimise the Proprietary Portfolio and Fund Management business divisions to keep raising our revenues. On top of that, the positive effects of the refinancing arranged late last year are beginning to have an impact. As of now, we have adjusted our external reporting to the hybrid business model, and you will see the structure reflected in our reporting,” said Aydin Karaduman, CEO of DIC Asset AG.
Commercial Portfolio further Optimised
Upward Trend in the Fund Business Continues
Financial and Earnings Position Keeps Improving
Forecast for the 2017 Financial Year Adjusted
For more details on DIC Asset AG, visit the company’s homepage at www.dic-asset.de.
About DIC Asset AG:
In its Commercial Portfolio division (EUR 1.7 billion in assets under management), DIC acts as proprietor and property asset holder, and thus generates revenues both from the management of the assets and through the value optimisation of its own real estate portfolio. The Funds division (EUR 1.3 billion in assets under management) generates its revenues by acting as issuer and manager of special real estate funds for institutional investors. Gathered in the business unit Other Investments (EUR 0.4 billion in assets under management) are joint venture investments, equity investments in property developments, strategic financial investments, and the management of properties in which the company holds no equity stakes.
DIC Asset AG has been included in the SDAX(R) segment of the Frankfurt Stock Exchange since June 2006. The Company’s shares are also included in the EPRA index, which tracks the performance of the most important European real estate companies.
Key Performance Indicators
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|Company:||DIC Asset AG|
|Neue Mainzer Straße 20 * MainTor|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1462|
|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|