DGAP-News

DIC Asset AG enjoys a successful start to 2016

DGAP-News: DIC Asset AG / Key word(s): Quarter Results
DIC Asset AG enjoys a successful start to 2016

12.05.2016 / 07:13
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Press Release

Frankfurt, 12 May 2016

DIC Asset AG enjoys a successful start to 2016

- Operating profit (FFO) up 20 per cent, to EUR 14.5 million (Q1 2015:
EUR 12.1 million)
- "Strategy 2016" successfully concluded: LTV at 58.8 per cent
- EUR 11.8 million consolidated profit for the period markedly higher
year-on-year (Q1 2015: EUR 1.3 million)
- Fees from real estate management rise to EUR 7.4 million
- Stake in WCM Beteiligungs- und Grundbesitz-AG raised to 24.9 per cent
- Annual targets for 2016 affirmed


DIC Asset AG (German Securities ID A1X3XX / ISIN DE000A1X3XX4) today
presented its interim report for the first three months of the 2016
financial year. Supported by strong operating performance, the Company has
developed on schedule and affirms its full-year targets, including a
projected 2016 FFO of between EUR 43 million and EUR 45 million. The
Company also successfully concluded its "Strategy 2016" at the end of the
first quarter, reaching a loan-to-value ratio of 58.8 per cent. As
announced, the Company will focus its future strategy and business model on
growing its funds business and its real estate management platform for the
German commercial real estate market. In addition, it will focus on
managing the assets in its directly-held Commercial Portfolio. In
particular, the planned growth in assets under management in the funds and
third party businesses are set to boost fees from real estate management.
Besides rental income from the directly-held Commercial Portfolio, these
fees are to form a further material source of income for DIC Asset AG.

Aydin Karaduman, CEO of DIC Asset AG, said: "Results for the first quarter
of 2016 finally affirm the successful conclusion of our 'Strategy 2016'.
Leveraging a lower debt ratio, we will now focus on further expansion of
our successful funds business, and on further establishing our real estate
management platform with investors active in the German real estate
market."

Summary details on results for the first quarter:

Due to sales of properties in 2015, gross rental income of EUR 27.6 million
was slightly lower year-on-year (Q1 2015: EUR 35.1 million). Reflecting the
successful placement of the DIC Office Balance III fund, fees from real