ADO Properties S.A., LU1250154413

ADO Properties S.A., LU1250154413

17.11.2016 - 07:31:50

ADO Properties S.A. continues to grow and reports positive results of the first nine months 2016

- Income from rental activities increased by 40%, driven by rental growth and further acquisitions - Sustainable growth of EBITDA (+35%) and FFO1 (+46%) - Significant like-for-like rental growth of 5.2% - Net Asset Value per share at EUR 28.65 as of 30 September 2016 (31 December 2015: EUR 24.10) - Positive outlook for the 2016 financial year confirmed - Expected FFO 1 run rate in 2016 around EUR 52 million

Berlin, 17 November 2016 - ADO Properties S.A., the only Prime Standard listed residential real estate company solely focused on the city of Berlin, reports a sustainable growth during the first nine months of the financial year 2016. This is reflected in the quarterly financial report for Q3/2016 published today.

Consistent improvements of operational key figures The income from rental activities of ADO Properties increased in the first nine months 2016 by 40% to EUR 65.2 million (9M 2015: EUR 46.7 million). This growth was mainly driven by the strong 5.2% like-for-like rental growth and further successful acquisitions. The EBITDA from rental activities increased by 35% from EUR 34.2 million in the first nine months 2015 to EUR 46.4 million in the first nine months 2016.

The FFO1 (without profit from disposals) has increased by 46% up to EUR 31.5 million (9M 2015: EUR 21.6 million) due to operational performance and the relative improvement of net cash interest expenses. These results in an FFO1 of EUR 0.84 per share (9M 2015: EUR 0.79 per share).

The average in-place rent of the residential portfolio increased to EUR 6.02 per sqm per month at the end of the third quarter 2016 (31 December 2015: EUR 5.82). On a like-for-like basis that reflected an average annual rental growth of 5.2% as of 30 September 2016. The vacancy rate for the residential portfolio was reduced by the company from 4.0% as of 31 December 2015 to 2.6% as of 30 September 2016.

Successful capital increase clears the way for further acquisitions The recent successful capital increase of about 14.5% clears the way for further acquisitions, particularly in Berlin's attractive inner-city locations. ADO Properties' portfolio has grown to EUR 2.0 billion as of 30 September 2016, comprising more than 18,600 units at the end of the reporting period, of which are around 17,600 residential units (31.12.2015: 14,860 units). The Net Asset Value of the portfolio amounted to EUR 1.3 billion or EUR 28.65 per share as of 30 September 2016. The financial structure of the company remains stable and conservative with an LTV of 35.9% by 30 September 2016 and an average interest rate of 2.07%. Almost all loans have fixed interest rates or are hedged. The loan maturity is approximately 5.5 years.

Expected FFO 1 run rate in 2016 at least EUR 52 million "We are positive that ADO Properties will continue to increase the value of its assets by generating significant like-for-like rental growth in the future. The integration of the Carlos portfolio is in line with our timetable, and we have successfully started to increase rents from new lettings in this sub-portfolio", says Rabin Savion, CEO of ADO Properties. "We anticipate our like-for-like rental growth to be at least 5% which should have an additional positive impact on our portfolio value, NAV and NAV per share. We expect our 2016 year-end FFO 1 run rate to be around EUR 52 million, and for the year 2016 we anticipate a dividend pay-out ratio of up to 50% of FFO 1."

Key Figures 30.09.16 30.09.15 Difference Difference absolute percentage Income from rental 65,248 46,721 18,527 39.7% activities, in thousands EUR EBITDA from rental 46,352 34,224 12,128 35.4% activities, in thousands EUR EBITDA, in 48,547 35,215 13,332 37.9% thousands EUR FFO 1 from rental 31,508 21,597 9,911 45.9% activities in thousands EUR FFO 1 per share, 0.84 0.79 0.05 6.3% EUR FFO 2 (incl. 33,703 22,492 11,211 49.8% disposal results), in thousands EUR 30.09.16 31.12.15 EPRA NAV, in 1,263,429 843,621 419,808 49.8% thousands EUR EPRA NAV per 28.65 24.10 share, EUR LTV, percent 35.9% 43.6% Residential Units 17,638 14,856 2,782 18.7% Portfolio value, 1,972 1,502 MEUR In-place-rent 6.02 5.82 residential EUR/ sqm/month Vacancy rate 2.6% 4.0% residential percent Rent for new 7.83 7.95 letting, EUR/sqm/ month Maintenance and 25.30 20.80 CAPEX, EUR per sqm

About ADO Properties

ADO Properties is a pure-play, Berlin-based residential real estate company with more than 18,600 units including the latest acquisitions in 2016. The Company has a fully integrated, scalable in-house platform with its own property management. Along with the responsibility for the condition of its apartments and buildings, ADO Properties also assumes responsibility towards people, employees, and neighborhoods. ADO Properties' portfolio is focused on central locations in Berlin and attractive suburban districts.

17.11.2016 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. Archive at www.dgap.de

Language: English Company: ADO Properties S.A. 20 rue Eugène Ruppert L-2453 Luxembourg Grand Duchy of Luxembourg Phone: +352 26 493 412 Fax: +352 27 860 722 E-mail: ir@ado.properties Internet: www.ado.immo ISIN: LU1250154413 WKN: A14U78 Indices: SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index Listed: Regulated Market in Frankfurt (Prime Standard), Luxembourg; Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange End of News DGAP News Service

521649 17.11.2016

@ dgap.de

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