DGAP-News

ADO Properties S.A. reports successful kick-off of the financial year 2017

DGAP-News: ADO Properties S.A. / Key word(s): Quarterly / Interim Statement ADO Properties S.A. reports successful kick-off of the financial year 2017 17.05.2017 / 07:00 The issuer is solely responsible for the content of this announcement. ADO Properties S.A. reports successful kick-off of the financial year 2017 Strong increase of income from rental activities (+24.3%) driven by new acquisitions and like-for-like growth EBITDA from rental activities +25.1% and FFO1 +39.6% Significant annual like-for-like rental growth of 6.1% Net Asset Value per share at EUR 36.31 as of 31 March 2017 (31 December 2016: EUR 36.08) Management board confirms positive outlook for the 2017 financial year and expected FFO 1 run rate in 2017 around EUR 60 million after deploying the current cash position by the end of the year Berlin, 17 May 2017 - ADO Properties S.A., the only Prime Standard listed residential real estate company solely focused on the city of Berlin, reports a successful kick-off of the financial year 2017. This shows the three-months financial report published today. Operational key figures reflecting the company's ongoing strong development The income from rental activities of ADO Properties increased in the first three months of the financial year 2017 by 24.3% to EUR 25.3 million (Q1 2016: EUR 20.4 million) driven by new acquisitions and the strong 6.1% like-for-like rental growth. The EBITDA from rental activities rose by 25.1% from EUR 14.4 million in the first quarter 2016 to EUR 18.0 million. The FFO1 (without profit from disposals) increased by 39.6% up to EUR 13.1 million (Q1 2016: EUR 9.4 million) equivalent to an FFO1 of EUR 0.30 per share (Q1 2016: EUR 0.27 per share) due to the strong operational performance and the relative improvement of interest expenses. The average in-place rent of the residential portfolio rose to EUR 6.17 per sqm per month at the end of the first quarter 2017 (31 December 2016: EUR 6.11). The vacancy rate for the residential portfolio remains low at 2.7% as of 31 March 2017 (31 December 2016: 2.5%).