DGAP-News
TLG IMMOBILIEN increases its FFO during the first nine months of 2014 and further expands its portfolio - Seite 2
approximately EUR 30.8 million and net rent for the year excluding
utilities is anticipated to be EUR 3.0 million.
Key lease contracts landed in Q3 2014
In August, Germany's Federal Office for Real Estate Management
(Bundesanstalt für Immobilienaufgaben) renewed its lease agreement for the
approximately 18,000 square metres of space it rents at Berliner
Karl-Liebknecht-Straße 31/33. Also, after expanding the space it rents at
the "1alex" property at Berlin's Alexanderplatz by some additional 1,600
square metres, BTB Bildungszentrum now lets approximately 3,600 square
metres of space.
The core portfolio's EPRA vacancy rate (3.5 percent as at 30 September
2014) had once more been decreased as compared to the first half of the
year. As at the reporting date, the weighted average lease term for the
office property portfolio amounted to 5.9 years and 7.1 years for the
retail portfolio.
Statement of financial position and financing structure remain sound
As at 30 September 2014, TLG IMMOBILIEN AG had a sound statement of
financial position and a conservative financing structure. Investment
property had increased to EUR 1.467 million as at the reporting date (31
December 2013: EUR 1.415 million). As at 30 September 2014, the net
Loan-to-Value (LTV) ratio amounted to 46.4 percent; the average borrowing
costs remained below three percent.
Management Board bolsters FFO forecast and focus on growth strategy
"Our business performance to date bolsters the forecast we made prior to
our IPO, namely that we will succeed in increasing TLG IMMOBILIEN's FFO to
approximately EUR 50.0 million for the full year in 2014. Beginning in
2015, our shareholders will share in the success of our company as we
distribute a dividend comprising 70 to 80 percent of our annual FFO", said
Peter Finkbeiner, member of the Management Board.
Niclas Karoff, member of the Management Board, stated, "Our recent
additions highlight the fact that we are systematically implementing our
ambitious growth strategy through value-enhancing acquisitions.
Furthermore, the issue proceeds generated from our IPO on 24 October 2014
represent a key springboard for us to expand our core portfolio through
additional positive cash flow properties in the coming months."
Contact
2014) had once more been decreased as compared to the first half of the
year. As at the reporting date, the weighted average lease term for the
office property portfolio amounted to 5.9 years and 7.1 years for the
retail portfolio.
Statement of financial position and financing structure remain sound
As at 30 September 2014, TLG IMMOBILIEN AG had a sound statement of
financial position and a conservative financing structure. Investment
property had increased to EUR 1.467 million as at the reporting date (31
December 2013: EUR 1.415 million). As at 30 September 2014, the net
Loan-to-Value (LTV) ratio amounted to 46.4 percent; the average borrowing
costs remained below three percent.
Management Board bolsters FFO forecast and focus on growth strategy
"Our business performance to date bolsters the forecast we made prior to
our IPO, namely that we will succeed in increasing TLG IMMOBILIEN's FFO to
approximately EUR 50.0 million for the full year in 2014. Beginning in
2015, our shareholders will share in the success of our company as we
distribute a dividend comprising 70 to 80 percent of our annual FFO", said
Peter Finkbeiner, member of the Management Board.
Niclas Karoff, member of the Management Board, stated, "Our recent
additions highlight the fact that we are systematically implementing our
ambitious growth strategy through value-enhancing acquisitions.
Furthermore, the issue proceeds generated from our IPO on 24 October 2014
represent a key springboard for us to expand our core portfolio through
additional positive cash flow properties in the coming months."
Contact
Christoph Wilhelm Sven Annutsch
Corporate Communications Investor Relations
Phone: +49 30 2470 6355 Phone: +49 30 2470 6089
Email: christoph.wilhelm@tlg.de Email: sven.annutsch@tlg.de
Diskutieren Sie über die enthaltenen Werte
Aktuelle Themen
Weitere Artikel des Autors
1 im Artikel enthaltener WertIm Artikel enthaltene Werte