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DGAP-News: DIC Asset AG / Key word(s): Change in Forecast/Preliminary Results Press Release DIC Asset AG Raises FFO Guidance for 2018 after Strong Third Quarter
DIC Asset AG believes that transactions in the second half of the year will cause the FFO contribution of the fund segment to exceed the forecast from the start of the year. On this basis, the group-wide FFO is now predicted to be at c. EUR 68 million for the full year 2018, exceeding the range of EUR 62 to 64 million assumed so far. For gross rental income EUR 98 to 100 million instead of EUR 95 to 98 million is predicted. The acquisition target of EUR 450 to 500 million across segments and the sales target of EUR 100 to 120 million from the proprietary portfolio (Commercial Portfolio) are confirmed. "The contribution that the fund business will make to the operating income and that is likely to exceed expectations demonstrates impressively that our hybrid business model offers diverse income opportunities that go beyond the portfolio business in a strict sense. It is quite evident to us that DIC Asset AG has increasingly established itself as trading platform in the fund business," commented Sonja Wärntges, CEO of DIC Asset AG.
About DIC Asset AG: In its Commercial Portfolio division (EUR 1.6 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 1.8 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 1.6 billion in assets under management) are strategic financial investments, the management of properties in which the company holds no equity stakes, equity investments in property developments and joint venture investments. 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.
08.10.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | DIC Asset AG |
| Neue Mainzer Straße 20 * MainTor | |
| 60311 Frankfurt am Main | |
| Germany | |
| Phone: | 1462 |
| Fax: | 9399 |
| E-mail: | |
| Internet: | -asset.de |
| ISIN: | DE000A1X3XX4, DE000A1TNJ22, DE000A12T648 |
| WKN: | A1X3XX, A1TNJ2, A12T64 |
| Indices: | S-DAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange |
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| End of News | DGAP News Service |
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