DGAP-News

DIC Asset AG sees further FFO growth in 2015

DGAP-News: DIC Asset AG / Key word(s): Final Results
DIC Asset AG sees further FFO growth in 2015

18.03.2015 / 08:01

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Frankfurt, 18 March 2015

DIC Asset AG sees further FFO growth in 2015

- FFO up 4 per cent, to EUR 47.9 million (2013: EUR 45.9 million)

- Gross rental income up by a strong 18 per cent, to EUR 147.5 million

- NAV per share stable, at EUR 12.61 (2013: EUR 12.58)

- Very stable dividend: unchanged proposal of EUR 0.35 per share

- Forecast for 2015: FFO to grow to between EUR 48 million and EUR 50
million (by up to 4 per cent)

- Johannes von Mutius brings further key strengths to the Management
Board, joins as CIO

DIC Asset AG (German Securities ID A1X3XX / ISIN DE000A1X3XX4) today
presented its report for the 2014 financial year. The Company increased its
operating results on the back of markedly higher rental income and achieved
its operative targets. FFO (funds from operations) rose by EUR 2.0 million,
or 4%, to EUR 47.9 million (2013: EUR 45.9 million), equating to a 32%
increase since year-end 2010. The Management Board will propose to pay an
unchanged dividend of EUR 0.35 per share. Based on the 2014 year-end
closing price, this translates into an attractive dividend yield of 4.7 per
cent.

Ulrich Höller, Chief Executive Officer of DIC Asset AG: "We had a
successful 2014 financial year. Combined with a stronger focus on managing
directly-held existing properties over the past twelve months, we have made
important strategic decisions for the Company and its shareholders."

Continued growth in operating results and FFO

Reflecting portfolio growth at the end of 2013, gross rental income rose to
EUR 147.5 million, up 18 per cent (2013: EUR 125.2 million). Profits on
property disposals came close to the strong previous year's level at EUR
6.8 million (2013: EUR 7.6 million). Mainly as a result of the planned
reduction following the portfolio acquisition in 2013, fees from real
estate management decreased by EUR 1.3 million year-on-year, to EUR 5.2
million. At the same time, income from real estate management related to
the funds business showed a strong increase from EUR 3.4 million to EUR 4.0
million. Total income for the 2014 financial year posted an 18 per cent
increase on the previous year, reaching EUR 277.6 million (2013: EUR 236.1