ALSTRIA OFFICE REIT-AG
DGAP-News: alstria office REIT-AG / Key word(s): 9-month figures Press release
Nine months 2017 HAMBURG, November 6, 2017 - alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) ('alstria') announces its result for the first nine months of 2017. Revenues of EUR 143.8 m and FFO of EUR 85.9 m alstria's rental revenues amounted to EUR 143.8 m in the first nine months of 2017 in line with expectations. The decline by 7.5% compared to the prior year period resulted from the disposal of non-core properties. However, in the third quarter 2017 rental revenues increased by 5.3% compared to Q2 2017, mainly reflecting the first-time consolidation of the Office-First portfolio acquired in the first half of 2017. Funds from operations (after minorities) stood at EUR 85.9 m after the first nine months of 2017 and were almost stable, compared to the prior year period (EUR 87.0 m). The increase in the FFO-margin from 56.0% to 59.8% is due to lower financing expenses, as well as lower administration and personnel expenses. The Consolidated Net Result amounted to EUR 111.7 m and was up by 43.0% compared to the prior year period, mainly driven by the book gain resulting from the disposal of the "Kaisergalerie" in Hamburg. Net LTV at 44.5%, EPRA NAV per share up by 1.9% Within the first nine months of 2017 alstria's equity increased by 1.9% to EUR 1,761 m (EUR 1,728 m as per December 31, 2016) reflecting the positive profit contribution in the first nine months of 2017 and overcompensating the dividend (EUR 79.7 m or EUR 0.52 per share) paid out to alstria's shareholders in the second quarter of 2017. alstria's EPRA NAV per share improved by 1.9% to EUR 11.52 in the third quarter of 2017. The G-REIT equity ratio amounted to 53.5%[1] and the Company's Net LTV stood at 44.5% as per September 30, 2017. Leasing performance
The very liquid leasing market in Germany led to a strong leasing performance in the first nine months of the year with new leases[2] of 68,600 sqm (prior year period: 66,100 sqm), as well as lease extensions of around 126,600 sqm (78,500 sqm). The EPRA vacancy rate[3] was stable at 9.3% despite the first-time consolidation of the Office-First portfolio with a vacancy rate of 21.0%. Streamlining of the portfolio alstria continued to streamline its portfolio in the third quarter of 2017 in order to focus the Company on office properties in the major German office markets. Over the past weeks the Company sold four non-core properties for a total consideration of EUR 60.5 m at a gain to the most recent appraised value. Full-year guidance confirmed Based on the results of the first nine months alstria confirms its guidance for the FY 2017: revenues of EUR 193 m and FFO of EUR 113 m (after minorities). Key financials at a glance
[4] FFO per share based on 153.3 m shares for 9M 2016 and 153.2 m shares for9M 2016. Sustainability report 2016 / 2017 published alstria has published its new Sustainability Report for the reporting year 2016. The report, has been prepared based on the new GRI Standards and has received external assurance for its environmental performance indicators, which demonstrates the Company's high level of commitment to a transparent sustainability reporting. In 2016, alstria has continued its RE100 commitment and reduced its carbon footprint by 31% compared to the base year in 2013 by purchasing renewable energies and climate-neutral natural gas. With the aim of further improving the energy management system, alstria has started applying smart metering systems across its portfolio. The Companies sustainability performance was awarded with the "immobilienmanager Award 2017" in the sustainability category for its project "Mieterstrompool." For the second time in a row, alstria achieved the leadership level (A-) in the CDP rating.
"In the third quarter alstrias business has developed according to our plans", said Olivier Elamine, CEO of alstria office REIT-AG. "We have continued to benefit from a strong leasing market in all the cities in which we are present, and are still experiencing a dynamic investment market which allows us to further optimise and streamline the portfolio. We are sustainably continuing to reduce the overall leverage on the balance sheet of the Company. Our debt portfolio has reduced by almost EUR 300 m, from EUR 1.8 bn in Q3 2016 to EUR 1.5 bn today." Invitation to the conference call on November 7, 2017
Please use one of the following dial-in numbers: Contact IR/PR: About alstria: Disclaimer:
06.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | alstria office REIT-AG |
| Bäckerbreitergang 75 | |
| 20355 Hamburg | |
| Germany | |
| Phone: | 040-226 341 300 |
| Fax: | 040-226 341 310 |
| E-mail: | info@alstria.de |
| Internet: | http://www.alstria.de |
| ISIN: | DE000A0LD2U1 |
| WKN: | A0LD2U |
| Indices: | MDAX, EPRA, German REIT Index |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, Luxemburg, SIX, Wien |
| End of News | DGAP News Service |
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