DGAP-News DIC Assets
DGAP-News: DIC Asset AG / Key word(s): Preliminary Results
Letter to the shareholders: Successful 2019 fiscal year creates basis for strong growth in 2020 – significant increase in FFO to EUR 104 to 106 million planned
The year 2019 was a decidedly successful year for DIC Asset AG. We were able to achieve or exceed all milestones we had set out, and made decisive strategic preparations for our company’s future development. Our stock achieved a share price performance of around 75% year on year, which means that the market capitalisation is now well over EUR 1 billion. Reasons for the robust performance include, above all, the successful and significant growth in our third-party business (Institutional Business), including the acquisition of GEG German Estate Group (GEG) in June 2019, the further optimisation of our proprietary portfolio (Commercial Portfolio) and not at least the increased transparent and expanded communication of the key performance indicators and contributors to operating income of our diversified and fast-growing business model. As far as operating activities go, our company now rests on two earnings streams of equal standing, one being our proprietary portfolio (Commercial Portfolio), the other being our third-party asset and property management (Institutional Business).
Our exceptional performance in the fiscal year 2019 as a whole pushed the Funds from Operations (FFO) up by 40% to c. EUR 95 million, which represents a strong result that lives up to the latest forecast.
These were the operating highlights of the 2019 financial year:
Provisional Financials Confirm the Strong Result of Fiscal Year 2019
Dividend Proposal for 2019 – High Dividend Yield of 4.2%
Forecast for the 2020 Financial Year – Plans Calling for Further Growth in FFO
Accordingly, we anticipate a further significant rise in FFO up to somewhere between EUR 104 million and EUR 106 million during the fiscal year 2020.
We will publish our full-length 2019 annual report, which will include a detailed outlook for the ongoing 2020 financial year, on 05 February 2020. We look forward to accomplishing our next operating objectives, and would like to take this opportunity to thank you for the trust you have shown in DIC Asset. Your faith in us and our staff will motivate us every day to keep pushing forward.
With kind regards,
Sonja Wärntges and Johannes von Mutius
About DIC Asset AG:
With more than 20 years of experience on the German real estate market, the company maintains a regional footprint on all major German markets through six branch offices, and has 180 assets with a combined market value of c. EUR 7.6 billion under management (as of 31/12/2019). Taking an active asset management approach, DIC Asset AG employs its proprietary, integrated real estate management platform to raise capital appreciation potential company-wide and to boost its revenues.
In its Commercial Portfolio division (EUR 1.9 billion in assets under management (as of 31/12/2019)), DIC Asset AG 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.
In its Institutional Business division (EUR 5.7 billion in assets under management (as of 31/12/2019)), which operates under the name GEG German Estate Group, DIC Asset AG generates income from structuring and managing investment vehicles with attractive dividend yields for national and international institutional investors.
DIC Asset AG has been SDAX-listed since June 2006.
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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:||956463|
|End of News||DGAP News Service|