13.04.2017
DEMIRE Deutsche Mittelstand Real Estate AG DE000A0XFSF0
DGAP-Adhoc: DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE significantly falls below FFO-forecast for 2016 and does not maintain FFO-forecast for 2017
DGAP-Ad-hoc: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s):
Change in Forecast/Miscellaneous
DEMIRE Deutsche Mittelstand Real Estate AG: DEMIRE significantly falls below
FFO-forecast for 2016 and does not maintain FFO-forecast for 2017
13-Apr-2017 / 01:04 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Publication of an Inside Information according to Article 17 MAR
DEMIRE significantly falls below FFO-forecast for 2016 and does not maintain
FFO-forecast for 2017
Langen, 13. April 2017 - In the course of finalizing the consolidated
financial statements for the financial year 2016 it has become obvious today
that the forecast of the funds from operations without sales ("FFO") will
significantly be missed.
Within the Half-Year Financial Report for the financial year 2016 the
Executive Board of DEMIRE Deutsche Mittelstand Real Estate AG ("DEMIRE")
provided a FFO forecast for the financial year 2016 before minority
interests in the amount of EUR 19.1 million and after minority interests in
the amount of EUR 13.9 million and confirmed the forecast within the 3rd
Quarter 2016 Interim Report.
Contrary to the FFO forecast (without sales) for the financial year 2016 the
FFO will come out in a range between EUR 7.0 and 8.0 million before minority
interests and between EUR 2.0 and 3.0 million after minority interests. The
aforementioned FFO-amounts would increase including contribution from sales
by approx. EUR 5.0 million to EUR 12.0 to 13.0 million before minority
interests and to EUR 7.0 to 8.0 million after minority interests.
The main reason for the deviation from the forecast is that planned
reductions of administrative costs, contrary to the expectations of the
Executive Board, have not yet been realized. In addition, planned tax
offsettings at the level of certain subsidiary companies against loss
carried forwards of DEMIRE could not be implemented. Furthermore, unexpected
costs occurred from tenant improvements, which however lead to a reduction
of vacancies and to an increase of rental income.
The Executive Board continues to assume stable rental income for the
financial year 2017 and will after updating its business planning publish a
new FFO guidance for the financial year 2017. Against this background the
current FFO guidance as published last year (within the Half-Year Financial
Report and the third interim report) is retracted.
The Executive Board
Contact information
DEMIRE Deutsche Mittelstand Real Estate AG Robert-Bosch-Straße 11
D-63225 Langen
Phone: +49 (0) 6103 - 372 49 - 0
Fax: +49 (0) 6103 - 372 49 - 11
[email protected]
www.demire.ag
Disclaimer
The information in this release contains forward-looking statements that are
subject to various risks and uncertainties. Such forward-looking statements
are based on current forecasts, expectations and estimates of DEMIRE's
Executive Board at the time of their publication. Such statements constitute
neither promises nor guarantees and are subject to various known and unknown
risks and uncertainties, some of which are beyond DEMIRE's influence. These
risks and uncertainties may lead to actual results differing materially from
statements that are mentioned herein. Notwithstanding legal requirements
DEMIRE accepts no obligation to update or adjust the forward-looking
statements contained in this release to reflect events or circumstances
after the date of this release.
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13-Apr-2017 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: DEMIRE Deutsche Mittelstand Real Estate AG
Robert-Bosch-Straße 11 im 'the eleven'
63225 Langen (Hessen)
Germany
Phone: +49 6103 37249-0
Fax: +49 6103 37249-11
E-mail: [email protected]
Internet: www.demire.ag
ISIN: DE000A0XFSF0
WKN: A0XFSF
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard);
Regulated Unofficial Market in Dusseldorf, Stuttgart,
Tradegate Exchange
End of Announcement DGAP News Service
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564749 13-Apr-2017 CET/CEST
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