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alstria office REIT-AG: Annual result 2012

DGAP-News: alstria office REIT-AG / Key word(s): Final Results
alstria office REIT-AG: Annual result 2012

01.03.2013 / 07:30

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Press release

Annual result 2012

- alstria achieves excellent financial result 2012: Revenues of EUR 101.3 m
(+11.6%) and funds from operations (FFO) of EUR 43.6 m (+25.6%)

- FFO per share up 15% to EUR 0.55

- Strongest balance sheet ratios in the Company´s history: G-REIT equity
ratio at 50.0% and net LTV at 47.8%

- Management proposes to pay a dividend of EUR 0.50 (+14%) per share for FY
2012

- Guidance for 2013: Further growth in revenues and FFO

Hamburg, March 1, 2013 - alstria office REIT-AG (symbol: AOX, ISIN:
DE000A0LD2U1), the leading German office REIT, announces its result for the
financial year 2012.

Revenues of EUR 101.3 m and FFO of EUR 43.6 m slightly above full-year
guidance

Based on very solid fundamentals, alstria generated revenues of EUR 101.3 m
in FY 2012. The increase of 11.6% year-on-year was mainly driven by the
acquisition of six properties in early 2012, but also by organic rental
growth of 3.2% resulting from indexation and new lettings. Funds from
operations for the same period amounted to EUR 43.6 m (+25.6% compared to
FY 2011) and were slightly higher than the 2012 guidance of EUR 43 m,
demonstrating the Company´s ability to substantially grow its cash flow in
a flat market environment. Efficiency gains and economies of scale further
improved alstria´s FFO margin from 38.2% (FY 2011) to 43.0% (FY 2012).
alstria´s operating success is also reflected in the FFO per share, which
increased by 15% to EUR 0.55 compared with EUR 0.48 in 2011. Considering
the increase in the number of shares following the capital increase
executed in February 2012, the increase in FFO per share is again testimony
to alstria´s ability to raise capital and invest it in an accretive manner
for all its shareholders. alstria´s net profit for the year 2012 was EUR
39.9 m compared with EUR 27.4 m in 2011.

The annual valuation led to a stable market value of alstria´s real estate
portfolio. The marginal loss of EUR -1.9 m (2011: EUR -16.7 m) was mainly
caused by the increase of transfer tax in the State of Hesse, which
increased from 3.5% to 5.0% and was fully reflected in alstria´s portfolio
valuation. The depreciation of EUR 5.0 m acquisition-related costs
(DIVE-Portfolio) was entirely compensated by valuation gains following
successful asset-management activities. The gross yield of alstria´s
portfolio remained stable at 6.5%.

Strongest balance sheet in alstria´s history

In the course of 2012, alstria continued its process of further