DGAP-News

ADO Properties S.A.: ADO Properties S.A. reports strong start into the financial year 2016

DGAP-News: ADO Properties S.A. / Key word(s): Quarter Results
ADO Properties S.A.: ADO Properties S.A. reports strong start into the
financial year 2016

19.05.2016 / 07:00
The issuer is solely responsible for the content of this announcement.

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- Strong growth of income from rental activities (+88%) and FFO1 (+112%)
- Significant like-for-like rental growth of 5.9%
- Net Asset Value per share at EUR 24.26 as of 31 March 2016 (31 December
2015 EUR 24.10)
- Successful capital increase in April strengthening the equity (proforma
NAV per share EUR 24.61) and building solid base for further growth
- Positive outlook for the 2016 financial year confirmed



Berlin, 19 May 2016 - ADO Properties S.A., the only Prime Standard listed
residential real estate company solely focused on the city of Berlin,
reports a strong start into the financial year 2016 and continued its
growth during the first three months 2016.

Further significant improvements of operational key figures
The income from rental activities of ADO Properties increased in the first
three months 2016 by 88% to EUR 20.4 million (Q1 2015: EUR 10.8 million).
This growth was mainly driven by a strong 5.9% like-for-like rental growth
and successful acquisitions. The EBITDA from rental activities increased by
80% from EUR 8.0 million in Q1 2015 to EUR 14.4 million. The annualized Q1
figures represent a total EBITDA of more than EUR 60 million.

The FFO1 (without profit from disposals) has increased by 112% up to EUR
9.4 million (Q1 2015: EUR 4.4 million). This represents an FFO1 of EUR 0.27
per share (Q1 2015: EUR 0.18 per share).

The average in-place rent of the residential portfolio increased to EUR
5.86 per sqm per month at the end of the first quarter 2016 (31 December
2015: EUR 5.82). On a like-for-like basis that reflected an average annual
rental growth of 5.9% as of 31 March 2016. The vacancy rate for the
residential portfolio was reduced by the company from 4.0% as of 31
December 2015 to 3.8% as of 31 March 2016.

Acquisition of 1,060 additional units in Berlin
Since the beginning of 2016 the company's portfolio size increased once
more by acquisition of 1,060 units in Berlin, partly taken over in Q1 and
partly in Q2, generating further attractive upside. ADO Properties'
portfolio was valued at EUR 1.6 billion as of 31 March 2016, comprising
approximately 16,400 units at the end of the reporting period, of which are
around 15,500 residential units (31.12.2015: 14,900 units). The Net Asset
Value of the portfolio amounted to EUR 849.2 million or EUR 24.26 per share