08.08.2016
alstria office REIT-AG DE000A0LD2U1
DGAP-News: alstria office REIT-AG: First half 2016
DGAP-News: alstria office REIT-AG / Key word(s): Half Year Results
alstria office REIT-AG: First half 2016
08.08.2016 / 17:40
The issuer is solely responsible for the content of this announcement.
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Press release
First half 2016
- Revenues at EUR 102.1 m and funds from operations (FFO) at EUR 57.4
(after minorities)
- Net LTV at 49.4% and REIT equity ratio at 50.4%
- EPRA vacancy rate down to 9.8%
- Guidance 2016 confirmed: revenues of EUR 200 m and FFO of EUR 115 m
HAMBURG, August 8, 2016 - alstria office REIT-AG (symbol: AOX, ISIN:
DE000A0LD2U1) ('alstria'), the leading German office REIT, announces its
result for the first six months of 2016.
Revenues of EUR 102.1 m and FFO of EUR 57.4 m
alstria's rental revenues amounted to EUR 102.1 m in the first half of 2016
und thus increased by EUR 1.0 % compared to the pro-forma revenues of
alstria and Deutsche Office in the first half 2015 (EUR 101.1 m).
Funds from operations (after minorities) amounted to EUR 57.4 m and
improved by 19.6% from EUR 48.0 m (pro forma H1 2015). The increase is due
to lower vacancy leading to higher revenues, savings in financing costs, as
well as lower administration and personnel expenses following the
integration of Deutsche Office. The consolidated net result (after
minorities) amounted to EUR 56.5 m in the reporting period. alstria's net
profit was positively impacted by disposal gains of EUR 23.0 m (mainly
disposal of 'An den Treptowers' in Berlin).
Net LTV at 49.4%, EPRA NAV per share roughly stable at EUR 10.80
Within the first six months of 2016 alstria's equity (after minorities)
decreased slighty by 0.7% to EUR 1,608 m, reflecting the positive profit
contribution in the first half of 2016 on the one hand and the dividend
payment of EUR 0.50 to the shareholders of the Company in the second
quarter of 2016 on the other hand. Despite the dividend payment alstria's
EPRA NAV per share was down by only 1.0% to EUR 10.80 compared to Dec. 31,
2015. The G-REIT equity ratio amounted to 50.4% and the Company's net LTV
stood at 49.4% as per June 30, 2016. Adjusted for the disposal of 'An den
Treptowers' in Berlin the net LTV stood at 44.9%.
Leasing performance
alstria and Deutsche Office recorded a strong leasing performance in the
first half of the year with new leases of 38,000 sqm, as well as lease
extensions of around 42,800 sqm. Following the successful leasing business
in the first half of 2016 the EPRA vacancy rate was down by 140 bps to
9.8% compared to December 31, 2015. The EPRA vacancy rate includes the
assets-held-for-sale.
Full-year guidance confirmed
Based on the results of the first half alstria confirms its guidance for
the FY 2016: revenues of EUR 200 m and FFO of EUR 115 m (after minorities).
'The second quarter of 2016 shows further improvement in the overall
performance of the Company, said Olivier Elamine, CEO of alstria. 'We
signed a number of attractive lease contracts, de-risked and de-levered our
balance sheet faster than expected and made further progress on the
integration of Deutsche Office.'
Key financials at a glance
H1 2016 H1 2015* Change
Revenues (EUR m) 102.1 101.1 1.0%
Funds from 57.4 48.0 19.6%
operations (FFO)
(EUR m)
FFO per share 0.37 0.31 19.6%
(EUR)
Jun.30, 2016 Dec.31, Change
2015
Investment 3,035 3,260 -6.9%
properties (EUR m)
Cash at hand (EUR 165.7 460.3 -64.0%
m)
EPRA NAV per share 10.80 10.91 -1.0%
(EUR)
G-REIT equity ratio 50.4 49.4 1.0 pp
(%)
Net LTV ratio (%) 49.4 49.3 -0.1 pp
* Pro forma alstria and Deutsche Office H1 2015
Invitation to the conference call on August 9, 2016
The alstria management board, CEO Olivier Elamine and CFO Alexander Dexne,
will present the H1 results during a conference call at 10:00 am (CET).
Please use one of the following dial-in numbers:
Germany: + 49 69 222229043
UK: + 442030092452
PIN: 24265914#
Please note that you can watch the management's presentation live as a
webcast on our website www.alstria.com. As soon as the conference call
begins, the presentation slides will be available for download.
Contact IR/PR:
Ralf Dibbern
Bäckerbreitergang 75
20355 Hamburg, Germany
Tel: +49 (0) 40 226 341 329
Email: [email protected]
www.alstria.com
www.alstria.blogspot.com
www.twitter.com/alstria_REIT
About alstria:
alstria office REIT-AG is an internally managed Real Estate Investment
Trust (REIT) focused solely on acquiring, owning and managing office real
estate in Germany. alstria was founded in January 2006 and was converted
into the first German REIT in October 2007. Its headquarters are in
Hamburg. The combination of alstria and Deutsche Office creates the leading
listed German office real estate company with a combined portfolio of 117
office buildings comprising 1.7 million sqm of lettable space and
representing a total portfolio value of approximately EUR 3.3 billion (as
of June 30, 2016). The alstria office REIT-AG strategy is based on active
asset and portfolio management as well as on establishing and maintaining
good relationships with key customers and decision makers. alstria focuses
on long-term real estate value creation.
Disclaimer:
This release constitutes neither an offer to sell nor a solicitation of an
offer to buy any shares. As far as this press release contains forward-
looking statements with respect to the business, financial condition and
results of operations of alstria office REIT-AG (alstria), these statements
are based on current expectations or beliefs of alstria's management. These
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or performance of the Company
to differ materially from those reflected in such forward-looking
statements. Apart from other factors not mentioned here, differences could
occur as a result of changes in the overall economic situation and the
competitive environment - especially in the core business segments and
markets of alstria. Also, the development of the financial markets and
changes in national as well as international provisions particularly in the
field of tax legislation and financial reporting standards could have an
effect. Terrorist attacks and their consequences could increase the
likelihood and the extent of differences. alstria undertakes no obligation
to publicly release any revisions or updates to these forward-looking
statements to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.
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08.08.2016 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.
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Language: English
Company: alstria office REIT-AG
Bäckerbreitergang 75
20355 Hamburg
Germany
Phone: 040-226 341 300
Fax: 040-226 341 310
E-mail: [email protected]
Internet: http://www.alstria.de
ISIN: DE000A0LD2U1
WKN: A0LD2U
Indices: MDAX, EPRA, German REIT Index
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Hamburg, Munich, Stuttgart,
Tradegate Exchange
End of News DGAP News Service
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490503 08.08.2016
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