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ADLER Real Estate AG: Another year of growth and improved operating performance
DGAP-News: ADLER Real Estate AG / Key word(s): Annual Results/Forecast
28.03.2019 / 07:00
The issuer is solely responsible for the content of this announcement.
Financial year 2018: Another year of growth and improved operating performance
- Net rental income increased by 40.0% to EUR 238.4m
- FFO I grew by 83.2% to EUR 74.2m
- EPRA NAV (excl. goodwill and fully diluted) up by 33.2% to EUR 1,639.0m
- Excellent operational performance with l-f-l rental growth of 3.4%, reduction in vacancy to 6.0% and increase in average in-place rent to EUR5.49 per sqm/month, outperforming the 2018 guidance
Berlin, 28 March 2019 - Another very strong year for ADLER Real Estate AG (ADLER). Higher earnings and key figures for the year 2018 mainly driven by improvement in operating performance and the acquisition of c.70% stake of Brack Capital Properties N.V. (BCP) in April 2018.
Operational improvement fueling financial performance
FFO I for 2018 amounted to EUR 74.2m equal to an 83.2% increase compared to the previous year (EUR 40.5m). On a fully diluted basis FFO I per share reached EUR 0.94 compared to EUR 0.51 for the previous year.
At the end of 2018, EPRA NAV (excl. goodwill and fully diluted) amounted to EUR 1,639.0m and was thus 33.2% higher on the comparable figure of the previous year (EUR 1,230.5m). EPRA NAV per share on a fully diluted basis (excl. goodwill) came to EUR 20.77, a 35.1% year-on-year increase (2017: EUR 15.37).
Operational improvements starting to translate into FV uplifts of investment properties
Financing and LTV
Another busy year of M&A transactions
Positive outlook for 2019
The complete annual report of ADLER Real Estate AG for the financial year 2018 is available on the company's website (www.adler-ag.com).
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Key financials 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|
|EQS News ID:||792759|
|End of News||DGAP News Service|