Corporate | 7 November 2016 17:52
alstria office REIT-AG: Nine months 2016
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DGAP-News: alstria office REIT-AG / Key word(s): 9-month figures
Press release
Nine months 2016
HAMBURG, November 7, 2016 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) (‘alstria’) announces its result for the first nine months of 2016. Revenues of EUR 155.4 m and FFO of EUR 87.0 m On the back of successful leasing activities in a strong rental market alstria’s revenues increased by 1.4% in the first nine months of 2016 and amounted to EUR 155.4 m (pro-forma revenues of alstria and Deutsche Office in the prior year period: EUR 153.2 m). Funds from operations (after minorities) stood at EUR 87.0 m and improved by 14.5% from EUR 76.0 m (pro forma 9M 2015). The increase is due to lower vacancy leading to higher revenues, savings in financing costs, as well as lower administration and personnel expenses following the full integration of Deutsche Office. The Consolidated Net Result (after minorities) amounted to EUR 78.1 m in the reporting period. Net LTV further down to 43.9%, EPRA NAV per share up by 1.4% in Q3 2016 Within the first nine months of 2016 alstria’s equity (attributable to shareholders) increased by 0.9% to EUR 1,634 m (EUR 1,619 m as per December 31, 2015) reflecting the positive profit contribution in the first nine months of 2016 and overcompensating the dividend (EUR 76.6 m or EUR 0.50 per share) paid out to alstria’s shareholders in the second quarter of 2016. alstria’s EPRA NAV per share improved by 1.4% to EUR 10.95 in the third quarter of 2016. The G-REIT equity ratio amounted to 55.4% and the Company’s Net LTV improved to 43.9% as per September 30, 2016. Leasing performance The very liquid leasing market in Germany led to a strong leasing performance in the first nine months of the year with new leases of 66,100 sqm, as well as lease extensions of around 78,500 sqm. The EPRA vacancy rate was down by 130 bps to 9.9% compared to December 31, 2015. Streamlining of the portfolio alstria continued to streamline its portfolio in the third quarter of 2016 in order to focus the Company on office properties in the major German office markets. In the course of the first nine months of 2016 the Company sold non-core properties for a total consideration of EUR 391.6 m and realised an average book gain of 7.5% to the appraised value as per December 31, 2015. The proceeds will be used for the financing of acquisitions in alstria’s core markets as well as for the repayment of financial debt. In the third quarter of 2016 alstria acquired a 3,900 sqm asset in Berlin for a total consideration (AIC) of EUR 9.1 m. Full-year guidance confirmed Based on the results of the first nine months alstria confirms its guidance for the FY 2016: revenues of EUR 200 m and FFO of EUR 115 m (after minorities). ‘One year after the closing of the takeover of Deutsche Office we are fully in line with our initial plan. Our FFO has improved significantly, the vacancy rate of the group has dropped to below 10% and we have made good progress in streamlining the portfolio, taking advantage of the strong demand for German real estate”, said Olivier Elamine, CEO of alstria. Key financials at a glance
* Pro forma alstria and Deutsche Office 9M 2015. Sustainability report 2015/2016 published alstria has published its new Sustainability Report for the reporting year 2015. The report, which received for the first time an external assurance for its environmental performance indicators, demonstrates the Company’s high level of commitment to a transparent and consistent sustainability reporting. Furthermore during that year, alstria has achieved the set-up of a framework agreement for procuring 100 % of its electricity from renewable sources and 100 % of climate-neutral natural gas . With the focus to increase the operational control of its own offices, alstria has also successfully implemented an energy management system according to the ISO 50001 standard. Finally alstria continues to play a pivotal role in real estate and to be recognized for the second consecutive year, from the Climate Disclosure Project, as a sector and country leader (A-rating).
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2016-11-07 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English | |
| Company: | alstria office REIT-AG | |
| Bäckerbreitergang 75 | ||
| 20355 Hamburg | ||
| Germany | ||
| Phone: | 040-226 341 300 | |
| Fax: | 040-226 341 310 | |
| E-mail: | info@alstria.de | |
| Internet: | http://www.alstria.de | |
| ISIN: | DE000A0LD2U1 | |
| WKN: | A0LD2U | |
| Indices: | MDAX, EPRA, German REIT Index | |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart, Tradegate Exchange | |
| End of News | DGAP News Service |