Further improvement in operating performance data
The Group further improved its key performance data in the first half of 2017. As of 30 June 2017, the average rental income (per square meter and month) for the overall portfolio amounted to EUR 5.06. That corresponds to an increase of EUR 0.08 on the corresponding value one year earlier. (H1 2016: EUR 4.98). In the core portfolio the average rental income (per square meter and month) amounted to EUR 5.09 at the mid year stage, up EUR 0.02 on the value at the end of the first quarter of 2017.

The occupancy rate for the overall portfolio came to 89.5 percent at the end of the first half of 2017 against 88.9 percent one year earlier. In the core portfolio the occupancy rate reached 90.7 percent, an improvement over the corresponding figure of the first quarter of 0.1 percentage point (Q1 2017: 90.6 percent). However, ADLER has not yet met its own target for this key figure. This is mainly due to the fact that the massive transition in tenant support services from external service providers to group-internal property and facility management at the beginning of the year gave rise to a certain volume of “friction losses” which had not been expected. These were initially reflected in a higher tenant turnover rate and slightly higher vacancy rate.
2017.

Core portfolio (like for like)Q2 2017
Q1 2017Change
Residential & Commercial
Units44,76444,261
Ø rent in €/sqm/month5.095.060.4 &
Occupancy rate in %90.890.00,1 pp
Residential only
Units43,84243,357
Ø rent in €/sqm/month5.045.020.4 %
Occupancy rate in %91.491.60.2 pp
Commercial only
Units922904
Ø rent in €/sqm/month6.126.040.0 %
Occupancy rate in %79.878.8-0,1pp
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