DGAP-News

Deutsche Wohnen AG: Acquisitions strengthen portfolio and strategic alignment

DGAP-News: Deutsche Wohnen AG / Key word(s): Interim Report/Quarter
Results
Deutsche Wohnen AG: Acquisitions strengthen portfolio and strategic
alignment

20.05.2015 / 08:30

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Interim result as at 31 March 2015

Deutsche Wohnen: Acquisitions strengthen portfolio and strategic alignment

- FFO I up by 21 % to EUR 71.3 million; FFO II improved by 8 % to EUR
80.6 million
- Acquisition of around 6,500 residential units - mainly in Berlin

Frankfurt/Main and Berlin, 20 May 2015. Deutsche Wohnen made a successful
start to the financial year 2015 and was able to record an increase in
Funds from Operations (FFO I) of 21 % to EUR 71.3 million (previous year:
EUR 59.1 million). Calculated per share, FFO I rose by around 14 % to EUR
0.24. Taking disposals into consideration, FFO II improved by 8 % to EUR
80.6 million (previous year: EUR 74.9 million) and per share by around 4 %
to EUR 0.27. As at the reporting date, the Loan-to-Value Ratio of the Group
fell further to 50.4 % (31 December 2014: 51.0 %). EPRA NAV (diluted) was
EUR 18.83 per share (31 December 2014: EUR 18.62 per share).

Positive development in key operating figures

As at 31 March 2015, the portfolio of Deutsche Wohnen comprised around
149,000 residential and commercial units with a fair value of approximately
EUR 10.0 billion. The average in-place rent across the entire housing
portfolio was EUR 5.73 per sqm as at the reporting date, with a vacancy
rate of 2.3 %.

Deutsche Wohnen was able to increase the gross rental income in the first
three months of the financial year 2015 to EUR 158.9 million (previous
year: EUR 157.0 million), and achieved a Net Operating Income (NOI) of EUR
122.0 million (previous year: EUR 121.1 million). On a like-for-like basis,
Deutsche Wohnen achieved rental growth in its strategic core and growth
regions of 2.5 %. The vacancy rate fell in these regions from 2.1 % to 1.9
%.

Earnings from Disposals amounted to EUR 9.3 million (previous year: EUR
15.8 million), concerning 561 units. The transfer of risks and rewards for
further 6,707 units with a transaction volume of EUR 453.7 million will
take place in the next months. This also involves the disposal of about
5,700 units in December 2014.

Targeted acquisitions in core regions

Deutsche Wohnen was able to further strengthen its presence in the capital
city through its acquisition of a total of 6,500 residential units, which
are predominantly located in Berlin. "Even in a highly competitive
environment we are continuing with our targeted portfolio strategy and are
benefiting particularly from our many years of experience and our strong
market position," explains Michael Zahn, CEO of Deutsche Wohnen AG. The
EBITDA contribution from acquisitions will amount to EUR 20 million
annually. The properties will be financed by means of a capital increase -
which was also being announced today.


Deutsche Wohnen

Deutsche Wohnen is one of the largest publicly listed residential property
companies in Germany and Europe with a business focus on managing and
developing its portfolio, which focuses on residential properties. As at 31
March 2015 the portfolio comprised a total of 148,935 units, of which
146,850 are residential units and 2,085 commercial properties. Deutsche
Wohnen is listed in the Deutsche Börse's MDAX and is also included in the
leading indices EPRA/NAREIT and GPR 100.


Contact
Phone [phone]
Fax [phone]
[e-mail]



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Language: English
Company: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt am Main
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: http://www.deutsche-wohnen.com
ISIN: DE000A0HN5C6
WKN: A0HN5C
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart


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