DGAP-News DIC Assets
DGAP-News: DIC Asset AG / Key word(s): 9-month figures
03.11.2017 / 07:31
DIC Asset AG: Strong Third Quarter with 30-Percent Growth in FFO
– Significant FFO increase by 30 percent to EUR 48.1 million
– Consolidated income increases to EUR 33.4 million
– EUR 85.7 million gross rental income; like-for-like growth 1.1 percent
– Revenues from fund management grow to EUR 13.0 million
– Special dividend planned for 2017
Frankfurt/Main, 03 November 2017. This Friday, DIC Asset AG (WKN A1X3XX / ISIN DE000A1X3XX4) presented its figures for the third quarter of 2017. Following in the wake of an already excellent mid-year result, the company’s very robust performance during the third quarter resumed seamlessly from that of the first six months of 2017, returning rather positive results across all operating segments. The FFO equalled EUR 48.1 million, which implies a year-on-year increase by 30 percent (9M 2016: EUR 36.9 million). At the same time, the profit for the period surged by 48 percent to EUR 33.4 million year on year (9M 2016: EUR 22.5 million). Assets under management added up to a total of EUR 3.3 billion by the end of Q3. In addition to the excellent performance of the operating segments, the positive effects of the equity interest acquired in the company WCM contributed to the result.
“With a noticeably increased FFO and a rise in consolidated income, we look back on an excellent performance during the ongoing financial year. Both the placement of our sixth institutional fund and the robust results in the Commercial Portfolio demonstrate that the two operating segments of our hybrid business model are equally successful. In addition, we recognised a significant positive effect on earnings through our strategic equity investment in WCM and the takeover bid by TLG that allowed us to acquire a share below NAV in an interesting listed commercial property AG and its portfolio. The planned special dividend is intended to let our shareholders directly participate in this success,” said Sonja Wärntges, CEO of DIC Asset AG.
Outperformance of Commercial Portfolio
Steady Growth in the Fund Business
Segment “Other Investments” generates increasing Income
Positive Development for Financial and Earnings Position
Operating Targets Reaffirmed
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 1.5 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 1.5 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 0.3 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; Luxemburg|
|End of News||DGAP News Service|