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DGAP-News: Deutsche Konsum REIT-AG
/ Key word(s): Preliminary Results
Press release Deutsche Konsum REIT with a strong financial year 2018/2019 / Acquisitions of more than EUR 25 million in the new FY already - Net income of EUR 53.3 million for the year 2018/2019 - Rental income up 47% to EUR 42.0 million - FFO up 55% to EUR 25.8 million/aFFO of EUR 21.3 million - FFO run rate of EUR 32.1 million as of 30 September 2019 - Dividend proposal of EUR 0.35 per share - EPRA NAV increased by 29% to EUR 9.94 per share - Net-LTV at 48.1% - FFO forecast of EUR 34 million to EUR 36 million for financial year 2019/2020 - FFO run rate at EUR 38 million to EUR 40 million at the end of the financial year 2019/2020 - Dividend forecast of EUR 0.55 per share for financial year 2019/2020 - In Q1 2019/2020 acquisitions of more than EUR 25 million already signed - Disposal of one grocery discounter store at yield of less than 5% Broderstorf, 18 November 2019 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) grew strongly and profitably in the financial year 2018/2019. Based on the preliminary figures, the results are as follows: Period result increased significantly FFO are rising faster than rental income Funds from operations ("FFO") increased even more strongly by 55% from EUR 16.6 million to EUR 25.8 million, which is slightly below the guidance and mainly due to the delay of the transfer of ownership of a few properties. This confirms the increasing profitability of DKR. The aFFO (FFO after deduction of the capitalised modernisation measures) increased to around EUR 21.3 million (2017/2018: EUR 8.3 million) due to extensive investments in revitalisation properties in the prior year. Real estate portfolio grew to EUR 624 million - Investment volume at record level Thus, the total portfolio increased by 34 retail properties in the past financial year with an investment volume of around EUR 160 million and an annual rent of EUR 14.4 million, which significantly exceeded the purchase volume of the previous year (2017/2018: EUR 127 million). This was offset by the sale of a property in Berlin-Tegel. The current purchase yield of the entire portfolio is around 10.9%. EPRA NAV increases to EUR 9.94 per share/Net LTV is 48.1% The net LTV stood at 48.1% at the end of the financial year, slightly below the target corridor of around 50%, leaving room for further moderate leverage. FFO forecast for the financial year 2019/2020 between EUR 34 million and EUR 36 million/dividend of EUR 0.55 per share expected Furthermore, the Management Board is planning a dividend distribution of around EUR 0.55 per share for the current financial year 2019/2020. Acquisitions of more than EUR 25 million in Q1 of the FY 2019/2020 Furthermore, the company is in the last stages of the acquisition processes for other retail properties in a significant volume, which are expected to be signed shortly. Disposal of one grocery discounter store Rolf Elgeti, CEO of Deutsche Konsum REIT-AG: "The preliminary figures for the past financial year 2018/2019 already show the strong growth momentum starting in the second half of the financial year, which will only fully unfold in the annual results from the new financial year 2019/2020. Here, we expect further increases in profitability and margin expansion through economies of scale and through efficiency gains due to our professional asset management. In addition, we currently see a heavily filled pipeline, for which we are very well positioned after the last capital increase." Telephone conference The finalised and audited year-end results of the FY 2018/2019 will be published on 18 December 2019 in the complete annual report. 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 Börse (ISIN: DE 000A14KRD3). Contact:
18.11.2019 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: | 914749 |
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| End of News | DGAP News Service |
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914749Â Â 18.11.2019Â
