02.05.2018
alstria office REIT-AG DE000A0LD2U1
DGAP-News: alstria office REIT-AG: First quarter 2018
DGAP-News: alstria office REIT-AG / Key word(s): Quarter Results
alstria office REIT-AG: First quarter 2018
02.05.2018 / 17:40
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Press release
First quarter 2018
- Revenues at EUR 48.3 m and funds from operations (FFO) at EUR 29.8 m
- Strong balance sheet: Net LTV at 35% (after dividend payment) and REIT
equity ratio at 65.4%
- Guidance 2018 confirmed: Revenues of EUR 187 million and FFO of EUR 110
million
HAMBURG, May 2, 2018 - alstria office REIT-AG (symbol: AOX, ISIN:
DE000A0LD2U1) ("alstria") announces its result for the first three months of
2018.
Revenues of EUR 48.3 m and FFO of EUR 29.8 m
alstria's rental revenues amounted to EUR 48.3 m in the first quarter of
2018 and are in line with the Company's full year guidance of EUR 187 m. The
increase by 6.3% compared to the prior years' level of EUR 45.4 m reflects
the impact of new leasing contracts and the acquisition of new properties in
the course of 2017.
Funds from operations (after minorities) amounted to EUR 29.8 m (EUR 0.17
per share) and were 6.6% higher compared to the first three months of 2017.
The FFO margin stood at 61.7% (prior year: 61.5%) and is testimony to the
high profitability of the real estate operations. alstria's consolidated net
result amounted to EUR 32.4 m and was up by 4.7% compared to EUR 30.9 m in
the prior year period.
EPRA NAV per share up to EUR 12.85
Within the first three months of 2018 alstria's equity increased by 16.5% to
EUR 2,278 m, reflecting the capital increase in January 2018, the positive
profit contribution in the first quarter of 2018 and the conversion of a
substantial part of the convertible bond. The strengthening of the equity
base of the Company was executed while improving the EPRA NAV per share by
1.1% to EUR 12.85. The G-REIT equity ratio amounted to 65.4% and the
Company's Net LTV improved to 32.5% as per March 31, 2018. As of the date of
this release and considering the dividend pay-out of EUR 0.52 per share for
FY 2017, the net LTV stands at around 35%.
Operating performance
In the operating business alstria took profit from the continuing strong
leasing market in Germany. The Company signed new leases [1] of 14,100 sqm,
as well as lease extensions of around 18,500 sqm. The EPRA vacancy rate [2]
stood at 11.2%. In the course of the first quarter alstria sold two
buildings for a total consideration of EUR 13.6 m and realized a gain to the
most recent appraised value of 5.8%.
Full-year guidance confirmed
Based on the results of the first quarter alstria confirms its guidance for
the FY 2018: revenues of EUR 187 m and FFO of EUR 110 m (after minorities).
"alstria had a good start into the year 2018 and is operating on solid
ground", said Olivier Elamine, CEO of alstria. "We have continued to work on
the de-risking of our balance sheet and the optimisation of portfolio. Our
leasing pipeline continues to be promising and the demand for up-to-date
space remains strong as demonstrated by our recent leasing successes on the
Momentum asset in Düsseldorf".
Key financials at a glance
Q1 2018 Q1 2017 Change
Revenues (EUR m) 48.3 45.4 6.3%
Funds from operations (FFO) (EUR m) 29.8 27.9 6.6%
FFO per share[1][3] (EUR) 0.17 0.18 -5.6%
1. #footnote_3
Mar. 31, 2018 Dec. 31, 2017 Change
Investment properties (EUR m) 3,429 3,332 2.9%
Cash at hand (EUR m) 265.6 102.1 160.2%
EPRA NAV per share (EUR) 12.85 12.71 1.1%
G-REIT equity ratio (%) 65.4 57.1 8.3 pp
Net LTV ratio (%) 32.5 40.0 -7.5 pp
[1] Only includes new leases signed and disregards any lease renewals.
[2] The EPRA vacancy rate disregards the vacancy in development projects.
[3] FFO per share based on 177.1 m shares for Q1 2018 and 153.2 m shares for
Q1 2017.
Invitation to the conference call on May 3, 2018
The alstria management board, CEO Olivier Elamine and CFO Alexander Dexne,
will present the Q1 results during a conference call at 10:00 am (CET).
Please use one of the following dial-in numbers:
Germany: +49 69 22222 9043
UK: +44 203 009 2452
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
Steinstrasse 7
20095 Hamburg, Germany
Tel: +49 (0) 40 22 63 41-329
Email: [email protected]
More information on:
www.alstria.com
www.alstria.blogspot.com
www.twitter.com/alstria_REIT
www.beehive.work
About alstria:
alstria office REIT AG is the leading real-estate operator focusing solely
on German office property in selected German markets. Our strategy is based
on the ownership and an active management of our properties throughout their
entire life cycle, strong added-value services to our customers and deep
knowledge of the markets in which we operate. alstria strives for
sustainable long-term value creation while taking advantage of short-term
arbitrage of inefficiencies in the real estate markets. The portfolio
comprises 116 buildings with a lettable area of 1.6 million sqm and a total
portfolio value of EUR 3.4 billion as per March 31, 2018.
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.
---------------------------------------------------------------------------
02.05.2018 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.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: alstria office REIT-AG
Steinstraße 7
20095 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, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange; London, Luxemburg,
SIX, Wien
End of News DGAP News Service
---------------------------------------------------------------------------
681677 02.05.2018
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
alstria office REIT-AG ISIN: DE000A0LD2U1 können Sie bei EQS abrufen
Immobilien (Gewerbe) , A0LD2U , AOX , XETR:AOX