Corporate | 30 October 2014 07:00
|
Deutsche Annington Immobilien SE / Key word(s): 9-month figures/Real Estate
PRESS RELEASE Nine-month figures: Deutsche Annington continues period of dynamic growth and confirms forecast for 2015 – Strong development of operating KPIs – FFO 1 up 25.5 % to EUR 205.0 million year on year – Proposed dividend increases by 11.4 % to EUR 0.78 per share, representing 70 % of the FFO 1 – Admission to the MDAX – Deutsche Börse includes stock in second-highest stock exchange segment – With a market capitalisation of EUR 5.5 billion, already in the upper quartile of the index – Successful growth strategy – Continuation of acquisition of 5,000 residential units with a focus on Berlin – Acquisition of Vitus completed; resale of a sub-portfolio implemented – Volume of maintenance and investments at record level – Modernisation volume for 2015 increased to more than EUR 200 million – Outlook – Forecast for 2014 confirmed – Outlook for 2015 points to sustained profitable growth; increase of NAV per share to between EUR 24 – 25 expected
Strong development of operating KPIs The operating KPIs also confirm a high level of performance in the third quarter: The like-for-like increase in actual monthly rents (on the basis of a comparable volume of residential units) has picked up further in comparison with the first half of the year and now amounts to 2.3 %. The vacancy rate once again fell in comparison with the reporting date for the prior period, declining by 0.3 percentage points to 3.6 %. FFO 1 (funds from operations) rose by 25.5 % to EUR 205.0 million in comparison with the same period in the previous year. As at the reporting date, the net asset value (NAV) had increased by 6.5 % to EUR 5,094.8 million in comparison with the year-end figure. Due to this strong result, the company envisages an FFO 1 for 2014 of between EUR 280 million and EUR 285 million, i.e. at the upper end of its guidance. Should the business situation remain stable until the end of the year, the Management Board will suggest a dividend payment of EUR 0.78 per share at the Annual General Meeting, representing an increase of 11.4 % in comparison with the previous year’s figure and around 70 % of the FFO 1. “We have developed extremely positively over the last 18 months and are a reliable partner for our investors and for our customers. We have established ourselves on the capital market and offer our tenants an ever improving service,” says Rolf Buch, CEO of Deutsche Annington. Admission to the MDAX Since September 22, the Deutsche Annington share has been traded on the MDAX. This predominately reflects the significant increase in the fleet float and the trading volume. With a market capitalisation of EUR 5.5 billion as at the reporting date, the company is already in the upper quartile of the second-highest stock exchange segment. Successful growth strategy In September, Deutsche Annington announced the purchase of more than 5,000 residential units following the acquisitions of the Vitus and DeWAG stocks with around 41,000 units. This portfolio, whose integration is planned from the first quarter of 2015, spans the Berlin metropolitan area, as well as the cities of Dresden, Leipzig and Erfurt. With the acquired units in the metropolitan areas of eastern Germany, the housing company has increased its presence throughout Germany.
Deutsche Annington completed the Vitus transaction at the start of the fourth quarter. In October, Deutsche Annington also sold approximately 9,600 units in this portfolio to LEG. “We are continuing to actively develop our housing stocks. Thanks to our professional management approach, we have a balanced portfolio mix and are able to manage our residential units highly efficiently. This is an enormous advantage, both for investors and for tenants,” says Buch.
Overall in 2014, the company will dedicate approximately EUR 330 million to maintenance and investments in its stocks. This puts Deutsche Annington at the pinnacle of housing companies. “We pursue a sustainable investment strategy which corresponds to the long-term goals of our investors,” says Buch. Outlook To achieve yet further improvements in the quality of its housing stocks, Deutsche Annington will continue to consistently invest in its buildings and its residential units, as well as in the residential environment as a whole. The company has successfully completed its preparations for its 2015 investment programme with a volume in excess of EUR 200 million. Considering the results for the year as a whole, Deutsche Annington confirms the forecast which it had revised upwards following the first half of the year, and expects an FFO 1 at the upper end of the range between EUR 280 million and EUR 285 million. Assuming a stable business situation until the end of the year, the company will suggest a dividend of EUR 0.78 per share for the year 2014 at the Annual General Meeting, which represents around 70 % of the FFO 1. Deutsche Annington expects a significant improvement of the FFO 1 to between EUR 340 million and EUR 360 million for 2015. The NAV per share will rise to EUR 24 – 25. Deutsche Annington remains committed to its goal of distributing around 70 % of this FFO 1 as dividends to the shareholders. In addition, the company will also further optimise the capital structure and leverage in the medium term. The complete quarterly report is available from www.deutsche-annington.com . A brief German-language version of the analysts’ presentation on the Nine-month figures is available to download from the Press section of the company’s website.
About Deutsche Annington
Additional information:
Contact:
Thomas Eisenlohr
30.10.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | Deutsche Annington Immobilien SE | |
| Münsterstraße 248 | ||
| 40470 Düsseldorf | ||
| Germany | ||
| Phone: | +49 234 314 2384 | |
| Fax: | +49 234 314 888 2384 | |
| E-mail: | investorrelations@deutsche-annington.com | |
| Internet: | www.deutsche-annington.com | |
| ISIN: | DE000A1ML7J1 | |
| WKN: | A1ML7J | |
| Indices: | MDAX | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart | |
| End of News | DGAP News-Service |
|
|
| 294028 30.10.2014 |