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ADLER Real Estate AG: First half year 2016: Continued strong improvement in operations
DGAP-News: ADLER Real Estate AG / Key word(s): Half Year Results
2016-08-12 / 10:47
The issuer is solely responsible for the content of this announcement.
First half year 2016: Continued strong improvement in operations
- Income and earnings from property lettings rise by more than 50 percent
- Significant increases in funds from operations (FFO) and EBITDA
- 2016 FFO guidance increased
- Disposal of non-core properties initiated
- Continued reduction in the loan-to-value ratio (LTV)
- Further increases to net asset value
Hamburg, 12 August 2016. ADLER Real Estate AG, Frankfurt/M. has shown strong improvement in operations in the first half-year 2016.
Income and earnings from property lettings rise by more than 50 percent
Earnings from property lettings amounted to EUR 61.0 million for the first half of 2016, equivalent to a 55.6 percent rise compared to the same period in the previous year (EUR 39.2 million).
Significant increases in funds from operations (FFO) and EBITDA
A comparison between the earnings figures for the two periods adjusted for non-recurring and extraordinary items shows a significant increase of 32.3 percent between the two.
2016 FFO guidance increased
Disposal of non-core properties initiated
Continued reduction in the loan-to-value ratio (LTV)
Further increases to net asset value
The complete report for the first half-year is available on the website of ADLER Real Estate AG under www.adler-ag.com.
For inquiries please contact:
Dr. Rolf-Dieter Grass (Management)
Key financial data for the first half-year 2016
About ADLER Real Estate AG: ADLER Real Estate AG is one of Germany's leading property companies. In recent years, the company has grown rapidly by making acquisitions. ADLER owns almost 50,000 residential units. These are mostly located in northern and western Germany and offer affordable homes to tenants with medium to low incomes. Most of this portfolio will be held and managed on a permanent basis. To this end, ADLER has established a professional, central asset management department and is also developing proprietary property management companies that should manage the entire portfolio by the end of 2017. This way, ADLER is set to become an integrated property group offering its tenants all relevant services from a single source.
Via a group company, ADLER is also active in the privatisation market, i.e. in converting rented apartments into freehold apartments. By selling suitable holdings, the company can draw on market opportunities to the benefit of its liquidity and earnings position.
By acquiring individual portfolios and stakes in companies, ADLER exploits benefits of scale and synergies. These involve pooling external services in order to optimise costs and adjusting internal structures. During 2016, central administration structures previously distributed across several locations are to be pooled in Berlin. To harmonise the company's organisational and legal structures, its legal domicile is also being transferred to Berlin.
ADLER is committed to generating value growth in the interests of its shareholders. With its stable financing structures and its SDAX listing, the company has built up a strong reputation on the capital.
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|Company:||ADLER Real Estate AG|
|60528 Frankfurt am Main|
|Phone:||+49 (0)40 - 29 8130-0|
|Fax:||+49 (0)40 - 29 8130-99|
|ISIN:||DE0005008007, XS1211417362, DE000A1R1A42, DE000A11QF02|
|WKN:||500800, A14J3Z, A1R1A4, A11QF0|
|Indices:||SDAX, GPR General Index|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|