DIC Asset AG : Ongoing uncertainties in real estate market and higher interest rates taking their toll on DIC
>FFO guidance for FY 2023e lowered significantly - On Friday evening (7 July) after market closing, DIC Asset (DIC) announced a profit warning for FY 2023e due to the ongoing uncertainty in the real estate market, which we detailed in our First Take of Monday 10 July. The company significantly lowered its FFO outlook for FY 2023e to € 50m-55m from € 90m-97m previously (our estimate: € 95.9m, consensus: € 95.4m). This goes together with DIC significantly lowering its g...DIC Asset along with its subsidiaries invests directly or indirectly in German commercial real estate and operates in the area of portfolio, asset and property management. Co.'s business segments include: commercial portfolio, which comprises portfolio properties owned by Co., which are leased long-term and offer attractive rental yields; and co-Investments, which comprises fund investments, investments in project developments and joint venture investments. As of Dec 31 2013, Co. had six branches located in the Hamburg, Berlin, Dusseldorf, Frankfurt Am Main, Mannheim, and Munich.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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