DGAP-News: ADO Properties S.A. / Key word(s): Final Results/Change of Personnel ADO Properties S.A.: ADO Properties S.A. shows strong a growth in the full financial year 2015 22.03.2016 / 07:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- - Strong growth of income from rental activities (+95%), EBITDA (+103%)and FFO1 (+123%) - Significant like-for-like rental growth of 7.3% - Net Asset Value per share at EUR 24.10 as of 31 December 2015 (31 December 2014: EUR 14.19, Proforma post IPO EUR 20.35) - Portfolio size nearly doubled - Number of residential units increased by 125% - Positive outlook for the 2016 financial year - further growth expected - Yaron Zaltsman to leave the senior management team in July 2016 Berlin, 22 March 2016 - ADO Properties S.A., the only Prime Standard listed residential real estate company solely focused on the city of Berlin, has shown a strong growth during the full financial year 2015. This is reflected in the annual financial report for 2015 published today. Operational key figures improved significantly The income from rental activities of ADO Properties increased in 2015 by 95.1% to EUR 65.8 million (2014: EUR 33.7 million). This growth was driven by the integration of the Carlos Portfolio with 5,750 residential units from 1 April 2015, further acquisitions and the strong operating performance. The EBITDA from rental activities increased by 97.3% from EUR 24.6 million in 2014 to EUR 48.5 million. The FFO1 (without profit from disposals) in 2015 rose by approximately 123% to EUR 30.2 million in comparison to EUR 13.5 million in the previous year. This results in an FFO1 of EUR 1.04 per share (2014: EUR 0.54 per share). The Board is proposing to the Annual General Meeting to pay a dividend in an amount of EUR 12.3 million (EUR 0.35 per share), reflecting 40% payout ratio of the total 2015 FFO1. The average in-place rent of the residential portfolio increased to EUR 5.82 per sqm per month at the end of the reporting period. On a like-for-like basis that reflected an average annual rental growth of 7.3% as of 31 December 2015. Comparing the average in-place rent to the average rent for new lettings, which was EUR 7.63 per sqm and month, shows the more than 30% reversionary potential of the portfolio. The vacancy rate for the residential portfolio was reduced by the company from 4.8% as of 31 December 2014 to 4.0 % as of 31 December 2015. Further growth of the portfolio by new acquisitions 2015 has been a successful year for the further development of the company's portfolio with acquisitions which nearly doubled the size of the company and its portfolio. ADO Properties' portfolio was valued at EUR 1.5 billion as of 31 December 2015. It comprises more than 15,700 units at the end of the reporting period, of which are around 14,900 residential units (31.12.2014: 6,600 units). The acquisition of the Carlos Portfolio with 5,750 residential units in Spandau and Reinickendorf in April 2015 had the greatest impact on portfolio growth. The Net Asset Value of the portfolio amounted to EUR 843.6 million or EUR 24.10 per share as of 31 December 2015 (Proforma post IPO: EUR 20.35). The financial structure of the company remains conservative and solid with an LTV of 43.6% by 31 December 2015. The average interest rate is 2.3%. More than 97% of the loans have fixed interest rates or are hedged. The loan maturity is approximately 5.5 years. In December 2015, the company completed the refinancing of loans in an amount of EUR 32.5 million, replacing a 4.65% with a 1.63% fixed interest rate demonstrating the further improvement potential in the financing cost. Positive outlook for the 2016 financial year - further growth expected "2016 marks the tenth anniversary of our business, and with the strength of the successes achieved in 2015, we are looking ahead to this special year with a very positive outlook", explained Rabin Savion, CEO of ADO Properties. "We plan to expand our portfolio without compromising quality by way of more targeted acquisitions, focusing on buildings with significant reversionary potential in promising micro-locations all over Berlin. We will generate further revenue with a like-for-like rental growth to be approximately 5%, increasing the FFO yields by refinancing our old loans and continue to create added value for our investors, customers and employees. For 2016 we anticipate again a dividend pay-out ratio between 30% to 40% of our FFO1." Yaron Zaltsman to leave the senior management team in July 2016 Yaron Zaltsman, Chief Financial Officer of ADO Properties S.A. will leave the senior management team based on mutual termination with effect as of July 23, 2016. The Board of Directors has initiated a search process to identify a suitable replacement. Shlomo Zohar, Vice Chairman of the Board of ADO Properties S.A., stated: "Mr. Zaltsman was an integral part of the senior management team of ADO. He not only supported the company in its ten years of growth with his deep experience, but also brought the IPO of ADO Properties S.A. to a successful conclusion. We wish him all the best and lots of success in his future endeavors."

                            31.12.15  31.12.14  Difference    Difference
Key Figures                                     absolute      percentage

Income from rental          65,799    33,719    32,080        95.1%
activities, in thousands
EUR

EBITDA from rental          48,492    24,584    23,908        97.3%
activities, in thousands
EUR

EBITDA, in thousands EUR    49,975    24,682    25,293        102.5%

FFO 1 from rental           30,174    13,529    16,645        123.0%
activities
in thousands EUR

FFO 1 per share, EUR        1.04      0.54

FFO 2 from rental           32,197    13,627    18,570        136.3%
activities,
in thousands EUR

EPRA NAV, in thousands EUR  843,621   354,779   488,842       137.8%

EPRA NAV per share, EUR     24.10     14.19

LTV, percent                43.6%     54.4%



Residential Units           14,856    6,596     8,260         125.2%

Portfolio value, MEUR       1,502

In-place-rent residential   5.82
EUR/sqm/month

Vacancy rate residential    4.0%
percent

Rent for new letting, EUR/  7.63
sqm/month

Maintenance and CAPEX per   20.8
sqm

About ADO Properties ADO Properties is a pure-play, Berlin-based residential real estate company with more than 16,000 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. --------------------------------------------------------------------------- 22.03.2016 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. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: ADO Properties S.A. 20 rue Eugène Ruppert LK-2453 Luxembourg Grand Duchy of Luxembourg Phone: +49 (0)30-403 907 900 Fax: +49 (0)30-403 907 901 E-mail: [email protected] Internet: www.ado.immo ISIN: LU1250154413 WKN: A14U78 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Luxembourg; Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 447445 22.03.2016