DGAP-Ad-hoc: DIC Asset AG / Key word(s): Forecast
DIC Asset AG: Forecast for the Fiscal Year 2020
Disclosure of an inside information acc. to Article 17 MAR
Frankfurt am Main, 16 January 2020.
Based on the preliminary and still unaudited financials for 2019, DIC Asset AG (WKN: A1X3XX / ISIN: DE000A1X3XX4) just announced that it either achieved or exceeded all of its annual forecast targets as it ended the year with c. EUR 95 million in funds from operations* (FFO), c. EUR 102 million in gross rental income and a transaction volume across all business segments of EUR 2.2 billion, with acquisitions accounting for EUR 1.9 billion thereof. DIC Asset AG's business plan for 2020, which the Management Board adopted today with the approval of the Supervisory Board, projects a significant growth in earnings for the 2020 financial year. With respect to the key earnings figure FFO, the Management Board anticipates a rise up to somewhere between EUR 104 million and EUR 106 million. The main factor driving this growth will be the planned acquisition volume in the amount of c. EUR 1.6 billion to EUR 1.9 billion, of which c. EUR 500 million to EUR 600 million are earmarked for the proprietary portfolio (Commercial Portfolio), and c. EUR 1.1 billion to EUR 1.3 billion in third-party business (Institutional Business). With this in mind, the company expects to see a rise in gross rental income and an increase in real estate management fees over prior year. Furthermore, the company is planning targeted sales across all segments with a volume of around EUR 400 million. Of this amount, around EUR 100 million is attributable to the Commercial Portfolio and around EUR 300 million to the Institutional Business. In addition, the 2020 financial year will see the first full-year consolidation of GEG German Estate Group AG, a company acquired in June 2019.
DIC Asset AG will publish its full-length 2019 annual report, which will include a detailed outlook for the ongoing 2020 financial year, on 5 February 2020.
*Explanatory note: Operating income from property management, before depreciation, tax, profits from sales and development projects, as well as from other one-off or non-cash earnings components.
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16-Jan-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||DIC Asset AG|
|Neue Mainzer Straße 20|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1492|
|Fax:||+49 69 9454858-9399|
|ISIN:||DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9|
|WKN:||A1X3XX, A12T64, A2GSCV, A2NBZG|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||955301|
|End of Announcement||DGAP News Service|
955301 16-Jan-2020 CET/CEST