15.08.2018 ADO Properties S.A.  LU1250154413

DGAP-News: ADO Properties S.A. continues to expand in the first half year 2018


 
DGAP-News: ADO Properties S.A. / Key word(s): Half Year Results ADO Properties S.A. continues to expand in the first half year 2018 15.08.2018 / 07:00 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- ADO Properties S.A. continues to expand in the first half year 2018 * Dynamic increase of the income from rental activities by +26.4% * Portfolio grown by 15% * Like-for-like rental growth improved to 5.1% * EBITDA from rental activities +28.1% and FFO1 +24.8% * EPRA Net Asset Value per share at EUR 49.62 as of 30 June 2018 (31 December 2017: EUR 45.10) * Dividend payout of EUR 0.60 per share (around +33%) * Management board confirms positive outlook for the 2018 financial year with an increased FFO 1 run rate guidance of at least EUR 66 million Berlin, 15 August 2018 - ADO Properties S.A., the only Prime Standard listed residential real estate company solely focused on the city of Berlin, reports further successful portfolio expansion as well as a significant growth of its value in the first half year 2018. This is reflected by the key figures for the first six months of 2018 published today. Continuous growth of the main key figures The income from rental activities of ADO Properties rose in the first six months 2018 by 26.4% to EUR 64.9 million (H1 2017: EUR 51.4 million), driven by a solid 5.1% like-for-like rental growth and further significant expansion of the residential portfolio. The EBITDA from rental activities increased by 28.1% to EUR 46.7 million (H1 2017: EUR 36.5 million). The FFO1 (from rental activities) rose by 24.8% up to EUR 33.3 million (H1 2017: EUR 26.7 million) equivalent to an FFO1 of EUR 0.76 per share (H1 2017: EUR 0.61 per share) due to the ongoing strong operational performance. The average in-place rent of the residential portfolio was EUR 6.57 per sqm per month at the end of the reporting period (31 December 2017: EUR 6.42). The vacancy rate for the residential portfolio decreased by 50 basis points to 3.1% as of 30 June 2018 (31 December 2017: 3.6%) due to the increased speed of unit modernization. Portfolio grows by 15% In the first half year 2018 the portfolio of ADO Properties has grown significantly by EUR 498 million or 15% to EUR 3,819 million as of 30 June 2018. The portfolio comprised 23,487 units at the end of the reporting period, of which are 22,064 residential units (31 December 2017: 20,649 residential units), representing a growth of the number of residential units of 6.9%. The EPRA Net Asset Value of the portfolio amounted to EUR 2,188 million or EUR 49.62 per share as of 30 June 2018. Lasting conservative financial structure and low interest rate of 1.8% ADO Properties' financial structure remains conservative with an LTV of 41.8% by the end of the reporting period. The average weighted maturity of the outstanding debts is approximately 5.0 years while the average interest rate of the long-term debt is 1.8%. Almost all loans have fixed interest rates or are hedged. Dividend payout of EUR 0.60 per share (+33%) - Management board confirms positive outlook and FFO1-prognosis for 2018 "At the end of the first half of the Business Year 2018 the value of our portfolio was approximately EUR 3.82 billion, representing a significant growth of EUR 498 million compared to the last external assessment in December 2017. Beside of this our like-for-like rental growth rose up to 5.1% which can be attributed first and foremost to our CAPEX strategy. The investments carried out as part of the CAPEX program, which entailed investing in newly acquired vacant spaces over the course of these past few months, are now starting to pay off", comments Rabin Savion, CEO of ADO Properties. "At the same time, this resulted in a drop of the vacancy rate to 3.1%. This pleasing development is one which our investors are able to experience directly: on 19 June 2018 a dividend payout of EUR 0.60 per share was agreed to at the shareholders' meeting in Luxembourg. This amounts to a year-on-year increase of around 33%. From this strong position we look ahead to the second half of 2018 with high expectations. 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." Key Figures 01.01.18-- 01.01.17-- Difference Difference 30.06.18 30.06.17 absolute percentage Income from rental 64.9 51.4 13.5 26.4% activities, in MEUR EBITDA from rental 46.7 36.5 10.2 28.1% activities, in MEUR EBITDA, in MEUR 48.2 37.8 10.4 27.5% FFO 1 (from rental 33.3 26.7 6.6 24.8% activities), in MEUR FFO 1 per share, EUR 0.76 0.61 0.15 24.6% FFO 2 (incl. disposal 34.7 28.0 6.7 24.0% results), in MEUR 30.06.18 31.12.17 Difference Difference absolute percentage EPRA NAV, in MEUR 2,188 1,989 199 10.0% EPRA NAV per share, 49.62 45.10 EUR LTV, percent 41.8% 39.6% Residential units 22,064 20,649 1,415 6.9% Portfolio value, in 3,819 3,321 498 15.0% MEUR In-place-rent 6.57 6.42 residential EUR/sqm/month Vacancy rate 3.1% 3.6% residential percent Maintenance and CAPEX, 34.80 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 23,500 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. --------------------------------------------------------------------------- 15.08.2018 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; Luxembourg Stock Exchange End of News DGAP News Service --------------------------------------------------------------------------- 714347 15.08.2018


Die wichtigsten Finanzdaten auf einen Blick
  2012 2013 2014 2015 2016 2017 2018 2019e
Umsatzerlöse1 15,70 22,67 34,33 75,75 109,78 128,85 154,85 0,00
EBITDA1,2 11,23 16,24 24,68 49,98 66,63 77,09 93,78 0,00
EBITDA-Marge3 71,53 71,64 71,89 65,98 60,69 59,83 60,56 0,00
EBIT1,4 26,46 39,12 24,58 49,72 66,27 80,55 93,25 0,00
EBIT-Marge5 168,54 172,56 71,60 65,64 60,37 62,51 60,22 0,00
Jahresüberschuss1 14,76 22,94 69,28 156,01 410,77 367,51 397,46 0,00
Netto-Marge6 94,01 101,19 201,81 205,95 374,18 285,22 256,67 0,00
Cashflow1,7 12,24 15,23 -19,40 55,72 76,38 86,85 103,93 0,00
Ergebnis je Aktie8 0,42 0,66 1,98 5.04 10,11 8,07 8,77 4,30
Dividende8 0,00 0,00 0,00 0,35 0,45 0,60 0,75 0,75
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2018 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG Luxemburg

INVESTOR-INFORMATIONEN
©boersengefluester.de
ADO Properties
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A14U78 38,960 Kaufen 1.721,82
KGV 2020e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
8,66 5,54 1,564 7,73
KBV KCV KUV EV/EBITDA
0,81 16,57 11,12 35,669
Dividende '18 in € Dividende '19e in € Div.-Rendite '18
in %
Hauptversammlung
0,75 0,75 1,93 20.06.2019
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
22.05.2019 14.08.2019 13.11.2019 20.03.2019
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
4,47% -11,82% -13,77% -24,20%
    
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