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DGAP-News Deutsche Wohnen raises earnings for 2015 by about 38 per cent

Nachrichtenquelle: EQS Group AG
11.01.2016, 08:00  |  235   |   |   
DGAP-News: Deutsche Wohnen AG / Key word(s): Forecast
Deutsche Wohnen raises earnings for 2015 by about 38 per cent

11.01.2016 / 08:00
The issuer is solely responsible for the content of this announcement.

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Deutsche Wohnen raises earnings for 2015 by about 38 per cent

- Increase of FFO I by 38 per cent to about EUR 300 million or EUR 0.94
per share

- Portfolio appreciation by around EUR 1.7 billion and increase in EPRA
NAV by 27 per cent to approx. EUR 23 per share

- Substantial reduction of leverage ratio to around 38 per cent

- Further increase of FFO I by around 20 per cent to at least EUR 360
million expected for 2016

- Raise of payout ratio to 65 per cent of FFO I from financial year 2016
onwards

Frankfurt/Main and Berlin, 11 January 2016. For the financial year ending
31 December 2015, Deutsche Wohnen expects FFO I to come in above the latest
forecast at around EUR 300 million (previous year: EUR 217.6 million). This
represents an increase of 38 per cent on the previous year. FFO I
per share is set to improve by some 24 per cent to around EUR 0.94
(previous year: EUR 0.76).

Deutsche Wohnen benefited repeatedly from a dynamic market environment in
the 2015 financial year, particularly in the Core+ and Core regions. Thus,
Deutsche Wohnen will increase its EPRA NAV per share by presumably 27 per
cent, reaching a level of EUR 23 per share (previous year: EUR 18.10 per
share). Overall, the value of the portfolio is expected to increase by EUR
1.7 billion in the financial year 2015 compared with that of the 31
December 2014 reporting date. This corresponds to an in-place rents
multiplier of around 18.2x (previous year: 15.5x) for the entire portfolio
and around 19.4x (previous year: 16.1x) for Berlin.

The leverage ratio will expectedly be around 38 per cent as of 31 December
2015. The company aims to maintain its conservative financing policy within
the current market environment.

For the 2016 financial year, Deutsche Wohnen is forecasting a further
increase in FFO I of some 20 per cent against the past financial year to at
least EUR 360 million. The basis for this forecast is the FFO contribution
made by the previously announced additions to the portfolio, the
successfully concluded refinancing measures as well as the positive
development throughout the 2015 financial year, which the Management Board
expects to continue in 2016. The forecast relates to the current portfolio
stock as well as acquisitions that have already been announced; further
potential acquisitions are not included in the forecast.

Deutsche Wohnen expects the market development in its strategic core and
growth regions to remain positive. Based on a forecast like-for-like rent
increase of around 3 per cent on average for the years ahead, and provided
that conditions remain largely unchanged, the Management Board sees further
potential for value adjustment within the portfolio. As of the end of the
financial year 2016, Deutsche Wohnen anticipates an EPRA NAV of EUR 25 to
EUR 26 per share.

Against the background of the continuously positive business development,
the Management Board has decided to increase the dividend payout ratio for
the financial year 2016 to 65 per cent of FFO I.

"Deutsche Wohnen achieved a record result in 2015. We exceeded our targets
and we see ourselves in an excellent position for 2016. In view of this
potential, we are raising our forecast for 2016 and let our shareholders
increasingly participate in this success via the increase in the dividend
payout ratio. We are thereby demonstrating once again the sustainability
and strength of our business model," said Michael Zahn, Chief Executive
Officer of Deutsche Wohnen.


Deutsche Wohnen

Deutsche Wohnen is one of the largest publicly listed real estate companies
in Germany and Europe with a business focus on managing and developing its
portfolio, which focuses on residential properties. As at 31 September 2015
the portfolio comprised a total of 149,201 units, of which 146,999 are
residential units and 2,202 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.


Important Note

This publication constitutes neither an offer to sell nor an invitation to
purchase securities.

Insofar as this document contains forward-looking statements, these
statements do not represent any facts and are identified by the words
"become", "expect", "believe", "estimate", "intend", "strive", "assume" and
similar phrases. Such statements express the intentions, opinions or
current expectations or assumptions of Deutsche Wohnen and of the persons
acting in concert with it. The forward-looking statements are based on
current plans, estimates and forecasts which Deutsche Wohnen and the
persons acting in cooperation with it have made to the best of their
knowledge, but which do not claim to be correct in the future.
Forward-looking statements are subject to risks and uncertainties, which
are often very difficult to predict and usually do not lie within the
sphere of influence of Deutsche Wohnen or the persons acting in concert
with the company. It should be taken into account that actual results or
performance to differ materially from those expressed or implied by the
forward-looking statements.


Contact

Phone +49 (0)30 897 86-5413
Fax +49 (0)30 897 86-5419
ir@deutsche-wohnen.com


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11.01.2016 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.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Deutsche Wohnen AG
Pfaffenwiese 300
65929 Frankfurt am Main
Germany
Phone: +49 (0)30 89786-0
Fax: +49 (0)30 89786-5419
E-mail: ir@deutsche-wohnen.com
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


End of News DGAP News Service
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427975 11.01.2016

Wertpapier: Deutsche Wohnen

Themen: Börse, DAX, EUR


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DGAP-News Deutsche Wohnen raises earnings for 2015 by about 38 per cent

DGAP-News: Deutsche Wohnen AG / Key word(s): Forecast
Deutsche Wohnen raises earnings for 2015 by about 38 per cent

11.01.2016 / 08:00
The issuer is solely responsible for the content of this announcement.

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