DGAP-News DIC off to dynamic start into 2021
DGAP-News: DIC Asset AG / Key word(s): Quarterly / Interim Statement
DIC off to dynamic start into 2021
- Assets under management grow to EUR 10.6 billion
- Transactions totalling EUR 274 million completed (EUR 101 million in acquisitions, EUR 173 million in disposals)
- Increase of letting performance by about 50% year on year
- Real estate management fees grow by 18% to EUR 24.0 million
- Funds from operations (FFO) maintain high prior-year level at EUR 26.5 million
- 33% growth up to EUR 38.5 million when including profits from sales (FFO II)
Frankfurt am Main, 6 May 2021. Today, DIC Asset AG (ISIN: DE000A1X3XX4), one of Germany's leading listed property companies, publishes its figures for the first quarter of 2021. Following a strong finish at the end of last year, DIC Asset AG started into 2021 with the same momentum. With the 360 degrees' approach covering all aspects of the property it continues to demonstrate the stability and crisis-resilience of its business model. During the opening weeks of the year, the integration of logistics expert RLI Investors was concluded and the first joint logistics fund "RLI-GEG Logistics & Light Industrial III" with a target volume of EUR 400 million was started. On top of that, the company concluded the fourth scrip dividend (with an acceptance rate of around 47%) and the placement of the first ESG-linked promissory note in a volume of EUR 250 million, thereby completing two significant projects on the financing side that will further boost the planned growth of the business.
"The earnings of the first quarter, seen in context with our targets for 2021, show that we very much continued to prosper and that we are right on target. We are also setting the stage for our medium-term goal of EUR 15 billion in assets under management, and for the future of our sector: The strategic expansion of our investments in the logistics sector and the intensification of our ESG activities present a number of opportunities that we intend to exploit. With the recently completed placement of our ESG-linked promissory note, we already demonstrated that financial and non-financial performance go hand in hand for us," said Sonja Wärntges, CEO, as she commented on the concluded quarter.