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ADLER Real Estate AG: First nine months 2018: Outperforming 2018 guidance following strong operating performance - Guidance revised
DGAP-News: ADLER Real Estate AG / Key word(s): Quarterly / Interim Statement/Change in Forecast
28.11.2018 / 07:30
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First nine months 2018: Outperforming 2018 guidance following strong operating performance - Guidance revised
- EPRA NAV increased by 19.8 percent to EUR 1,446.64 million compared to FY 2017
- Fully diluted, adjusted EPRA NAV/share (excl. goodwill) increased by 20.0 percent to EUR 18.45 compared to EUR 15.37 in FY 2017
- Net Rental Income increased by 38.9 percent yoy to EUR 173.3 million
- FFO I more than doubled (102.6 percent) to EUR 54.9 million compared to EUR 27.1 million in Q3 2017
- In-place rent increased by 6.7 percent yoy to EUR 5.45 per sqm/month whilst the core portfolio occupancy rate grew by 2.1 percentage points to 93.2 percent
- Upward revision for full year guidance
Berlin, 28 November 2018 - During the first nine months of 2018, ADLER Real Estate AG showed continued strong performance driven by its sustained focus on operational performance.
EPRA NAV increased by 19.8 percent to EUR 1,446.6 million compared to FY 2017
Net rental income increased by 38.9 percent yoy to EUR 173.3 million
FFO I increased by 102.6 percent to EUR 54.9 million compared to EUR 27.1 million in 9M 2017
In-place rent increased by 6.7 percent yoy to EUR 5.45 per sqm/month whilst the core portfolio occupancy rate grew by 2.1 percentage points to 93.2 percent
Upward revision for full year guidance
Tomas de Vargas Machuca Co-CEO said: "Investors should be reassured by the Company's continued strong performance both in regard to NAV growth but crucially also with operational KPI's. In the coming months we will continue to deliver strong results as we look to de-lever to an LTV of c.55 percent and seek rating improvements."
Maximilian Rienecker Co-CEO added: "There is still significant upside potential and we look to deliver it with the addition of a new Head of Portfolio Management who will further improve portfolio KPI's but also with a new Head of Investor Relations. Both will be joining our Executive Committee in order to deliver strong results in Q4 and for 2019"
The complete financial report of ADLER Real Estate AG for the first nine months of 2018 is available on the company's website (www.adler-ag.com).
Your contact for enquiries:
Dr. Rolf-Dieter Grass
Key financials 9M 2018
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|Company:||ADLER Real Estate AG|
|Joachimsthaler Straße 34|
|Phone:||+49 30 398 018 10|
|Fax:||+49 30 639 61 92 28|
|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|