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DGAP-News: Deutsche Konsum REIT-AG / Key word(s): 9 Month figures Press release Deutsche Konsum REIT: Stable and profitable growth continued in the first nine months of the financial year 2018/2019/EPRA NAV has increased significantly - Rental income rises by 44% to EUR 30.1 million - FFO up 69% to EUR 19.2 million or EUR 0.65 per share - Real estate portfolio increased to EUR 546.8 million as at 30 June 2019 - Valuation gain from the portfolio valuation at EUR 32.4 million - EPRA NAV increased by 23% to EUR 9.47 per share - Net debt LTV at 50.7% Broderstorf, 14 August 2019 - Deutsche Konsum REIT-AG ("DKR"), ISIN DE000A14KRD3, has grown significantly and profitably in the first nine months of the current financial year 2018/2019 ("9M 2018/2019"). Rental income of more than EUR 30 million/FFO up 69% Funds from operations ("FFO") increased to EUR 19.2 million or by 69% (9M 2017/2018: EUR 11.4 million) more than disproportionately to pure rental income growth, mainly due to reduced borrowing costs and only disproportionately increased overheads. This demonstrates DKR's growing profitability due to economies of scale, professional asset management and more favourable financing conditions. Real estate portfolio grows to more than EUR 600 million As of the balance sheet date, the transfer of benefits and encumbrances of another ten acquired properties with an investment volume of around EUR 78 million and an annual rent of around EUR 6.7 million were outstanding, of which already nine properties were transferred to DKR as at 1 July 2019. Taking into account recent acquisitions, the real estate portfolio (pro forma) increased to 123 retail properties with a book value of around EUR 625 million and an annualised rent of EUR 49 million. The purchase yield of the overall portfolio is currently around 11.2%. As a result, DKR has already acquired retail properties for around EUR 160 million in the current financial year and has significantly exceeded the purchase volume of the previous year. In addition, DKR is in further concrete purchasing processes. Real estate portfolio up around 6.9% The real estate valuation was carried out by the appraiser CBRE for the first time. Successful capital increase in November 2018 EPRA NAV at EUR 9.47 per share/Net LTV at 50.7% Net LTV stood at 50.7% on the reporting date (30/09/2018: 51.2%), which is within the target of around 50%. Outlook Rolf Elgeti, CEO of Deutsche Konsum REIT-AG: "The nine-month results confirm once again that DKR continues to grow profitably as planned. This leads directly to increases in the creditworthiness of DKR, which also enable further potential on the financing side. At the same time, the appreciation of the real estate portfolio shows how the hidden reserves of our real estate are realised through systematic and professional asset management." Conference call today at 9am (UTC+2) and releases on 9M 2018/2019 About Deutsche Konsum Due to its REIT status ('Real Estate Investment Trust'), the company is exempt from corporation and trade tax. The shares of the company are listed on the Prime Standard of the Deutsche Boerse (ISIN: DE 000A14KRD3). Contact:
14.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | Deutsche Konsum REIT-AG |
| August-Bebel-Str. 68 | |
| 14482 Potsdam | |
| Germany | |
| Phone: | +49 (0)331 740076517 |
| Fax: | +49 (0)331 740076520 |
| E-mail: | |
| Internet: | -konsum.de |
| ISIN: | DE000A14KRD3 |
| WKN: | A14KRD |
| Listed: | Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 856639 |
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| End of News | DGAP News Service |
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856639Â Â 14.08.2019Â
