DGAP-News: Strong first quarter for Deutsche Wohnen
(firmenpresse) - DGAP-News: Deutsche Wohnen AG / Key word(s): Quarter Results
Strong first quarter for Deutsche Wohnen
14.05.2013 / 07:01
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- Increase in profit for the period of around 82% to EUR 26.2 million
- Increase in FFO (without disposals) of 68% to EUR 30.9 million
Frankfurt/Main and Berlin, 14 May 2013. Deutsche Wohnen has made a
successful start to the financial year 2013 with a profit for the first
quarter of EUR 26.2 million (previous year: EUR 14.4 million) and was able
to improve its performance in all business segments. Earnings from
Residential Property Management rose by 61% to EUR 70.9 million, earnings
from Disposals by 45% to EUR 5.5 million and earnings from Nursing and
Assisted Living by 19% to EUR 3.1 million.
The FFO (without disposals) rose by around 68% to EUR 30.9 million
(previous year: EUR 18.4 million). The reason for this increase is
particularly the contribution made by acquisitions during 2012 and at the
beginning of 2013. The Loan to Value Ratio was 54.7% (previous year: 57.2%)
as at the reporting date. The intrinsic value, measured as EPRA NAV, grew
in the first quarter to EUR 12.77 per share (31 December 2012: EUR 12.48
per share).
Further expansion of residential property portfolio
In line with its strategy of sustainable growth Deutsche Wohnen has made
further acquisitions, and has notarised two residential property portfolios
with a total of 7,800 residential units. With these acquisitions Deutsche
Wohnen is continuing to strengthen its most important core region and, at
the same time, is improving its FFO profile. These most recent acquisitions
bring the residential property portfolio of the company to over 90,000
residential units, of which 54% are located in Greater Berlin. As Michael
Zahn, CEO of Deutsche Wohnen AG, explains, 'We believe in Berlin. According
to the population forecasts of the government of the Federal State of
Berlin, an increase in population of 250,000 inhabitants is expected in
Berlin by 2030. So the city remains a dynamic market for us with great
potential.'
Outlook remains positive
The integration of the 33,000 units acquired in 2012 and at the beginning
of 2013 continues to proceed according to plan. Against this background
Deutsche Wohnen confirms its forecast - without further acquisitions - of
an FFO (without disposals) of EUR 100 million for the financial year 2013.
Additional positive contributions to FFO are expected from the 7,800
recently notarised residential units. The transfer of risks and rewards for
these properties is planned for the middle of this year.
Deutsche Wohnen
Deutsche Wohnen is one of the largest publicly listed residential property
companies in Germany with a business focus on managing and developing its
residential property portfolio. As of 31 March 2013 the portfolio comprised
around 83,200 units in total, of which 82,200 are residential units and
1,000 are commercial properties. The company is listed in the Deutsche
Börse's MDAX and is also included in the leading indices EPRA/NAREIT and
GPR 250.
Contact:
+49 (0)30 / 89786 - 551
End of Corporate News
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14.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt
Germany
Phone: +49 (0)30 89786-0
Fax: +49 (0)30 89786-507
E-mail: ir(at)deutsche-wohnen.com
Internet: http://www.deutsche-wohnen.com
ISIN: DE000A0HN5C6, DE0006283302
WKN: A0HN5C, 628330
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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210805 14.05.2013
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Datum: 14.05.2013 - 07:01 Uhr
Sprache: Deutsch
News-ID 259429
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