DGAP-News

ADO Properties S.A. continues to grow and reports positive results of the first nine months 2016

DGAP-News: ADO Properties S.A. / Key word(s): 9-month figures
ADO Properties S.A. continues to grow and reports positive results of the
first nine months 2016

17.11.2016 / 07:30
The issuer is solely responsible for the content of this announcement.

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- Income from rental activities increased by 40%, driven by rental growth
and further acquisitions
- Sustainable growth of EBITDA (+35%) and FFO1 (+46%)
- Significant like-for-like rental growth of 5.2%
- Net Asset Value per share at EUR 28.65 as of 30 September 2016 (31
December 2015: EUR 24.10)
- Positive outlook for the 2016 financial year confirmed
- Expected FFO 1 run rate in 2016 around EUR 52 million


Berlin, 17 November 2016 - ADO Properties S.A., the only Prime Standard
listed residential real estate company solely focused on the city of
Berlin, reports a sustainable growth during the first nine months of the
financial year 2016. This is reflected in the quarterly financial report
for Q3/2016 published today.

Consistent improvements of operational key figures
The income from rental activities of ADO Properties increased in the first
nine months 2016 by 40% to EUR 65.2 million (9M 2015: EUR 46.7 million).
This growth was mainly driven by the strong 5.2% like-for-like rental
growth and further successful acquisitions. The EBITDA from rental
activities increased by 35% from EUR 34.2 million in the first nine months
2015 to EUR 46.4 million in the first nine months 2016.

The FFO1 (without profit from disposals) has increased by 46% up to EUR
31.5 million (9M 2015: EUR 21.6 million) due to operational performance and
the relative improvement of net cash interest expenses. These results in an
FFO1 of EUR 0.84 per share (9M 2015: EUR 0.79 per share).

The average in-place rent of the residential portfolio increased to EUR
6.02 per sqm per month at the end of the third quarter 2016 (31 December
2015: EUR 5.82). On a like-for-like basis that reflected an average annual
rental growth of 5.2% as of 30 September 2016. The vacancy rate for the
residential portfolio was reduced by the company from 4.0% as of 31
December 2015 to 2.6% as of 30 September 2016.

Successful capital increase clears the way for further acquisitions
The recent successful capital increase of about 14.5% clears the way for
further acquisitions, particularly in Berlin's attractive inner-city
locations. ADO Properties' portfolio has grown to EUR 2.0 billion as of 30