16.05.2018 ADO Properties S.A.  LU1250154413

DGAP-News: ADO Properties S.A. starts successful into the financial year 2018

DGAP-News: ADO Properties S.A. / Key word(s): Quarterly / Interim Statement ADO Properties S.A. starts successful into the financial year 2018 16.05.2018 / 07:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- ADO Properties S.A. starts successful into the financial year 2018 * Strong increase of income from rental activities by +23.7% * Like-for-like rental growth improved to 4.9% * EBITDA from rental activities +25.0% and FFO1 +21.4% * EPRA Net Asset Value per share at EUR 45.37 as of 31 March 2018 (31 December 2017: EUR 45.10) * Further diversification of the company's funding sources by new commercial paper program * Positive outlook for the 2018 financial year with an increased FFO 1 run rate guidance of at least EUR 66 million after closing all signed transactions based on the long term financing structure Berlin, 16 May 2018 - ADO Properties S.A., the only Prime Standard listed residential real estate company solely focused on the city of Berlin, got off to a successful start into the financial year 2018. This is reflected by the key figures for first three months 2018 published today. Key figures showing the company's ongoing strong growth The income from rental activities of ADO Properties increased in the first quarter 2018 by 23.7% to EUR 31.3 million (Q1 2017: EUR 25.3 million), driven by the solid 4.9% like-for-like rental growth and further expansion of the residential portfolio. The EBITDA from rental activities rose by 25.0% from EUR 18 million in Q1 2017 to EUR 22.5 million in the first quarter 2018. The FFO1 (from rental activities) increased by 21.4% up to EUR 15.9 million (Q1 2017: EUR 13.1 million) equivalent to an FFO1 of EUR 0.36 per share (Q1 2017: EUR 0.30 per share) due to the ongoing strong operational performance. The average in-place rent of the residential portfolio was EUR 6.49 per sqm per month at the end of the reporting period (31 December 2017: EUR 6.42). The vacancy rate for the residential portfolio improved slightly to 3.5% as of 31 March 2018 (31 December 2017: 3.6%). Portfolio expansion continued In the first three months 2018 ADO Properties' portfolio value has grown by EUR 45 million to EUR 3,366 million as of 31 March 2018. The portfolio comprised 22,198 units at the end of the reporting period, of which are 20,864 residential units (31 December 2017: 20,649 residential units). The EPRA Net Asset Value of the portfolio amounted to EUR 2,001 million or EUR 45.37 per share as of 31 March 2018. Financial structure remains conservative - average interest rate at 1.8% ADO Properties' financial structure remains conservative with an LTV of 40.5% by the end of the reporting period. The average weighted maturity of the outstanding debts is approximately 5.2 years while the average interest rate is 1.8%. Almost all loans have fixed interest rates or are hedged. Taking into account commitments for signed deals, the pro-forma net LTV stands at around 44.7%. "During the first quarter 2018 we further diversified our funding sources by setting up a commercial paper program backed up by a EUR 200 million revolving credit facility which has gone live successfully after the end of the quarter. However, we maintain our conservative financing policy. We mean to keep funding our assets with an well-balanced mix of equity and fixed rate debt provided by banks as well as by capital market instruments", says Florian Goldgruber, CFO of ADO Properties. Expected FFO 1 run rate in 2018 at least EUR 66 million "The successful start of ADO Properties into the financial year 2018 is a very solid basis for the upcoming months", comments Rabin Savion, CEO of ADO Properties. "Anticipating further growth and value increases for ADO Properties, we expect our 2018 year-end FFO 1 run rate to be at least EUR 66 million after closing all signed transactions and implementation of the long term financing. Our fully integrated management platform, our results-driven corporate culture and our outstanding knowledge of the Berlin residential market and its potentials remain the most important strengths of our company and the sources of its capability to deliver further attractive returns to our investors." Key Figures 01.01.18-- 01.01.17-- Difference Difference 31.03.18 31.03.17 absolute percentage Income from rental 31.3 25.3 6.0 23.7% activities, in MEUR EBITDA from rental 22.5 18.0 4.5 25.0% activities, in MEUR EBITDA, in MEUR 23.1 18.7 4.4 23.5% FFO 1 (from rental 15.9 13.1 2.8 21.4% activities), in MEUR FFO 1 per share, EUR 0.36 0.30 0.06 20.0% FFO 2 (incl. disposal 16.5 13.8 2.7 19.6% results), in MEUR 31.03.18 31.12.17 Difference Difference absolute percentage EPRA NAV, in MEUR 2,001 1,989 12 0.6% EPRA NAV per share, 45.37 45.10 EUR LTV, percent 40.5% 39.6% Residential units 20,864 20,649 215 1.0% Portfolio value, in 3,366 3,321 45 1.4% MEUR In-place-rent 6.49 6.42 residential EUR/sqm/month Vacancy rate 3.5% 3.6% residential percent Maintenance and CAPEX, 30.50 29.10 EUR per sqm Definitions of our alternative performance measures like FFO1 or EPRA NAV are available in our latest financial report under http://ado.properties/websites/ado/English/4000/publications.html in the Financial Performance Indicators section. About ADO Properties ADO Properties is a Berlin-based business focused on residential real estate with a portfolio of approximately 22,200 units in Berlin. 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. --------------------------------------------------------------------------- 16.05.2018 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: ADO Properties S.A. 1B Heienhaff L-1736 Senningerberg Luxemburg Phone: +352 26 493 412 Fax: +352 27 860 722 E-mail: ir@ado.properties Internet: www.ado.immo ISIN: LU1250154413 WKN: A14U78 Indices: SDAX, FTSE EPRA/NAREIT Global Index, FTSE EPRA/NAREIT Developed Europe Index, FTSE EPRA/NAREIT Germany Index Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange; Luxemburg End of News DGAP News Service --------------------------------------------------------------------------- 686357 16.05.2018

ADO Properties
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A14U78 47,500 Kaufen 2.094,75
KGV 2019e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
13,57 6,10 2,238 10,73
1,18 24,12 16,26 42,277
Dividende '17e in € Dividende '18e in € Div.-Rendite '17
in %
0,60 0,70 1,26 19.06.2018
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
16.05.2018 15.08.2018 14.11.2018 20.03.2018
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
3,20% 7,33% 11,94% 24,96%

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