DGAP-News: Fair Value REIT-AG / Key word(s): 9-month figures/Real Estate Fair Value REIT-AG: Fair Value REIT-AG reports a substantial rise in consolidated net income in first nine months of 2015 05.11.2015 / 07:30 --------------------------------------------------------------------- Fair Value REIT-AG reports a substantial rise in consolidated net income in first nine months of 2015 - IFRS Group net profit increased to EUR 7.8 million in Q3 2015 (previous year: EUR 3.5 million) - Net asset value according to EPRA (EPRA-NAV) per share amounted to EUR 8.45 as of 30 September 2015 (31 December 2014: EUR 8.49) - REIT equity ratio increased to 59.5% (31 December 2014: 49.2%) - FFO at EUR 4.5 million in Q3 2015 (previous year: EUR 3.7 million) - Confirmation of FFO forecast 2015 of EUR 6.9 million - EUR 7.2 million, which corresponds to EUR 0.56 - EUR 0.58 per share - Target dividend for 2015 stays at EUR 0.25 per share Munich, 5 November 2015 - Fair Value REIT-AG (WKN A0MW97) reports successful first nine months of 2015 and has more than doubled the IFRS consolidated net income as compared to the corresponding period of the previous year. The IFRS Group net profit of EUR 7.8 million is EUR 4.4 million higher than the IFRS Group net profit of EUR 3.5 million in the previous year. The additional profit of EUR 4.2 million resulted from acquisitions of further interests in six subsidiaries, from the acquisition of a majority interest in an additional real estate closed-end fund and from the direct acquisition of properties which were previously owned by subsidiaries. Despite the dividend pay-out of EUR 0.25 per share, the EPRA NAV per share amounted to EUR 8.45 as of 30 September 2015, which is only slightly below the EPRA NAV per share of EUR 8.49 as of 31 December 2014. For this reason, the capital costs and dilution effects of the capital increase were almost fully absorbed. The REIT equity ratio increased to 59.4% of the immovable assets as of 30 September 2015 compared to 49.2% as of 31 December 2014. Consolidated net income adjusted for measurement and other extraordinary effects (FFO - Funds From Operations) amounted to EUR 4.5 million during the first nine months of 2015, hence ca. 22% above the FFO of EUR 3.7 million last year. The increase mainly reflects the gradual impact from investments made, from redemption-related reduced interest expenses and from the decrease in earnings attributable to non-controlling interests. For 2015 the Management Board affirmed its expectation of a FFO after non-controlling interests in a range of EUR 6.9 million - EUR 7.2 million. With regards to the increased weighted average number of shares outstanding in 2015 (12.38 million shares) this corresponds to an undiluted FFO per share in a range of EUR 0.56 - EUR 0.58. The Management Board aims for a dividend for 2015 of EUR 0.25 per every share entitled to a dividend (14.03 million shares). The corresponding pay-out value amounts to about EUR 3.5 million, which is in line with the strategic target of 50% of the FFO. Frank Schaich, CEO of Fair Value REIT-AG, commented on the operative business development: "The current increase in FFO in the third quarter of the current fiscal year has confirmed that our NAV-accretive investments are also generating attractive current results. This proves the success of our strategic approach." The interim report for the first nine months of 2015 is available for download from the financial reports section of www.fvreit.de from today. Selected actual key figures of the Fair Value REIT-AG EUR thousand 1/1 /2015 - 30/ 1/1/2014 - 30/ 9/2015 9/ 2014 Rental income 17,413 17,961 Net rental income 12,755 13,810 Operating result (EBIT) 13,459 11,772 IFRS Group net profit 7,800 3,455 Earnings per share (basic/diluted)1) 0.66 EUR / 0.64 0.37 EUR / 0.37 EUR EUR Adjusted consolidated net income (EPRA 4,467 3,653 earnings)/FFO EPRA earnings/FFO per share (basic/ 0.38 EUR / 0.36 0.39 EUR / 0.39 diluted)1) EUR EUR EUR 30/9/2015 31/12/2014 NAV per share 2) 8.45 EUR 8.39 EUR EPRA-NAV per share 2) 8.45 EUR 8.49 EUR Equity ratio within the meaning of Sec. 59.5% 49.2% 15 REITG 1) Weighted average number of shares outstanding 1/1/2015 - 30/9/2015 (11,823,736 undiluted/ 12,691,428 diluted) 1/1/2014 - 30/9/2014 (9,325,572 undiluted / diluted) 2) Number of shares outstanding: 30 September 2015: 14,029,013 31 December 2014: 9,325,572 Contact Fair Value REIT-AG Frank Schaich Tel. 089-9292815-10 Fax. 089-9292815-15 e-mail: [email protected] Company Profile Fair Value REIT-AG, based in Munich, focuses on retail and office properties in German secondary locations as well as on real estate holdings with a special emphasis on closed end funds. As of 30 September 2015, Fair Value's total portfolio of 44 properties had a market value of EUR 305.6 million. This portfolio had an occupancy rate of 91.8% of potential rent on full occupancy of EUR 27.4 million per year. As of 30 September 2015 the weighted remaining term of the leases was 4.6 years. Around 57% of the potential rent relates to retail space, 33% to office space and 10% to other types of use. --------------------------------------------------------------------- 05.11.2015 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: Fair Value REIT-AG Leopoldstraße 244 80807 München Germany Phone: +49 (0)89 9292 815-01 Fax: +49 (0)89 9292 815-15 E-mail: [email protected] Internet: www.fvreit.de ISIN: DE000A0MW975 WKN: A0MW97 Indices: RX REIT All Share Index, RX REIT Index Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart End of News DGAP News Service --------------------------------------------------------------------- 408889 05.11.2015