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DIC Asset AG, DE000A1X3XX4

DIC Asset AG, DE000A1X3XX4

16.01.2020 - 15:07:29

DIC Asset AG: Forecast for the Fiscal Year 2020

AD-HOC ANNOUNCEMENT

DIC Asset AG: Forecast for the Fiscal Year 2020

(Frankfurt, 16.01.2020)

Disclosure of an inside information acc. to Article 17 MAR

Frankfurt am Main, 16 January 2020.

Based on the preliminary and still unaudited financials for 2019, DIC Asset AG (WKN: A1X3XX / ISIN: DE000A1X3XX4) just announced that it either achieved or exceeded all of its annual forecast targets as it ended the year with c. EUR 95 million in funds from operations* (FFO), c. EUR 102 million in gross rental income and a transaction volume across all business segments of EUR 2.2 billion, with acquisitions accounting for EUR 1.9 billion thereof. DIC Asset AG's business plan for 2020, which the Management Board adopted today with the approval of the Supervisory Board, projects a significant growth in earnings for the 2020 financial year. With respect to the key earnings figure FFO, the Management Board anticipates a rise up to somewhere between EUR 104 million and EUR 106 million. The main factor driving this growth will be the planned acquisition volume in the amount of c. EUR 1.6 billion to EUR 1.9 billion, of which c. EUR 500 million to EUR 600 million are earmarked for the proprietary portfolio (Commercial Portfolio), and c. EUR 1.1 billion to EUR 1.3 billion in third-party business (Institutional Business). With this in mind, the company expects to see a rise in gross rental income and an increase in real estate management fees over prior year. Furthermore, the company is planning targeted sales across all segments with a volume of around EUR 400 million. Of this amount, around EUR 100 million is attributable to the Commercial Portfolio and around EUR 300 million to the Institutional Business. In addition, the 2020 financial year will see the first full-year consolidation of GEG German Estate Group AG, a company acquired in June 2019.

DIC Asset AG will publish its full-length 2019 annual report, which will include a detailed outlook for the ongoing 2020 financial year, on 5 February 2020.

*Explanatory note: Operating income from property management, before depreciation, tax, profits from sales and development projects, as well as from other one-off or non-cash earnings components.  

IR Contact DIC Asset AG: Peer Schlinkmann Head of Investor Relations & Corporate Communications Neue Mainzer Straße 20 60311 Frankfurt am Main Phone +49 69 9454858-1492ir@dic-asset.de Registered at Frankfurt am Main District Court No. Register of Companies HRB 57679 VAT Registration Number DE 233 741 623 Registered Office Frankfurt am Main

 

16-Jan-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: DIC Asset AG Neue Mainzer Straße 20 60311 Frankfurt am Main

Germany Phone: +49 69 9454858-1492 Fax: +49 69 9454858-9399 E-mail: ir@dic-asset.de Internet: www.dic-asset.de ISIN: DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9 WKN: A1X3XX, A12T64, A2GSCV, A2NBZG Indices: S-DAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange EQS News ID: 955301   End of Announcement DGAP News Service

955301  16-Jan-2020 CET/CEST

@ dgap.de