DGAP-News DIC Asset AG Maintains its Growth Trajectory with Strong Letting Result and Increase in FFO - Seite 2
Pipeline Well-Filled for the Fourth Quarter - 2020 Year-End Forecast Refined
The transactions market shows signs that dynamic growth has resumed. As of 30 September 2020, the assets under management stood at a new all-time high of EUR 8.7 billion (31 December 2019: EUR 7.6 billion). The acquisitions in both segments that were notarised since the start of the year approximate EUR 483 million, while sales notarised during the same time add up to c. EUR 354 million across segments.
Meanwhile, the acquisition pipeline of DIC Asset AG remains well-filled, primarily representing further investments in the Institutional Business segment. The strong investor interest makes it reasonable to expect additional equity commitments. Given the sound operating performance outlook for the fourth quarter, it is safe to narrow down the year-end forecast for 2020 as follows: Gross rental income is now expected to reach at least EUR 98 million and thus to approach the upper end of the previous range (EUR 94-98 million). The real estate management fees will prospectively add up to EUR 80-85 million (previously: EUR 80-90 million) and thereby remain within the previous range. The funds from operations (FFO) for 2020 were refined to a forecast of EUR 95-96 million. The transaction targets remain unchanged. The company continues to pursue the short-term growth target of raising its assets under management to EUR 10 billion.
Invitation to Attend Investor Call / Webcast on 28 October 2020
The Management Board of DIC Asset AG invites you to attend the presentation of the financial statement for the first nine months of 2020 on 28 October 2020 at 10:00 CET.
Please use the numbers below to dial in: Dial-in numbers:
Germany: +49 (0)69 2222 2018
United Kingdom: +44 (0)330 336 9411
United States: +1 323-794-2093
The confirmation code is: 2255937#
The webcast (incl. replay) is available under the link below:
For more details on DIC Asset AG, visit the company's homepage at www.dic-asset.de.
About DIC Asset AG:
With more than 20 years of experience on the German real estate market, the company maintains a regional footprint on all major German markets through six branch offices, and has 189 assets with a combined market value of c. EUR 8.7 billion under management.