29.05.2018 07:10:03
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DGAP-News: Deutsche Industrie REIT-AG completes first half-year 2017/2018 very successfully and increases FFO guidanceDeutsche Industrie REIT-AG:
DGAP-News: Deutsche Industrie REIT-AG / Key word(s): Half Year Results Deutsche Industrie REIT-AG completes first half-year 2017/2018 very successfully and increases FFO guidance - Rental income of EUR 4.2 million Rostock, 29 May 2018 - Deutsche Industrie REIT-AG (ISIN DE000A2G9LL1) has completed its first half-year as a listed company very successfully. Real estate portfolio grown to EUR 89 million In the first half-year of the 2017/2018 financial year (1 October 2017 - 31 March 2018), the portfolio grew significantly due to acquisitions. Five purchased properties have been transferred. The real estate portfolio, recognised as of 31 March 2018, comprises 11 Light Industrial properties with an annualised total rent of around EUR 10.0 million. Furthermore, ten properties with an investment volume of EUR 52.5 million have already been acquired. Following the transfer of ownership of these properties, the total portfolio comprises 21 properties and generates an annualised rent of around EUR 15.0 million. In addition, we are currently reviewing additional properties and are in promising negotiations, so we expect additional growth. Positive Net income The rental income increased to EUR 4.2 million due to the growth in the stock. While the result for the period amounts to EUR 5.4 million, the FFO (Funds From Operations) has reached nearly The NAV (Net Asset Value) as of 31st March 2018 was EUR 2.50 and the Net LTV, stood at 56.2%. FFO-Forecast for the FY 2017/2018 increased Due to the good half-year result and the acquisitions made, as well as additional growth, we are increasing our forecast and expect an FFO between EUR 5 million and EUR 6 million for the 2017/2018 financial year. The FFO - run rate (annualised FFO without periodic matching effects) is still forecasted at EUR 9 million to EUR 10 million at the end of the 2017/2018 financial year due to expected higher interest expenses. Publications for the first half-year of 2017/2018 The half-yearly statement for the first half-year of 2017/2018 financial year, the earnings presentation as well as further information about the Company can be found under http://www.deutsche-industrie-reit.de About Deutsche Industrie REIT-AG Deutsche Industrie REIT-AG sustainably invests in German light industrial real estate. Light industrial includes storage, distribution of goods as well as management and production. This asset class consists mostly of medium to large industrial and commercials estates. These properties are usually more complex than pure logistics real estate and have a high local relevance. The share is listed on the Regulated Market of the Berlin Stock Exchange and on the Open Market of the Frankfurt Stock Exchange. In the beginning of 2018 the Company obtained the REIT status ("real estate investment trust ") and will be therefore exempted from the income-based tax. Contact: Deutsche Industrie REIT-AG Mr René Bergmann August-Bebel-Str. 68 14482 Potsdam Tel. +49 331 740 076 535
29.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Deutsche Industrie REIT-AG |
Martin-Niemöller-Str. 23 | |
18147 Rostock | |
Germany | |
Phone: | +49 331 740076 5 - 0 |
Fax: | +49 331 / 740 076 520 |
E-mail: | rb@deutsche-industrie-reit.de |
Internet: | http://www.deutsche-industrie-reit.de |
ISIN: | DE000A2G9LL1, DE000A2GS3T9 |
WKN: | A2G9LL, A2GS3T |
Listed: | Regulated Market in Berlin; Regulated Unofficial Market in Frankfurt |
End of News | DGAP News Service |
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690159 29.05.2018
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