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09.05.2016 17:39:46
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DGAP-News: alstria office REIT-AG
DGAP-News: alstria office REIT-AG: First quarter 2016
09.05.2016 / 17:39 The issuer is solely responsible for the content of this announcement.
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Press release
First quarter 2016
- Revenues at EUR 51.1 m and funds from operations (FFO) at EUR 29.0 m
- Net LTV at 49.0% and REIT equity ratio at 49.7%
- EPRA vacancy rate down by 30 bps to 10.9%
- Guidance 2016 confirmed: revenues of EUR 200 m and FFO of EUR 115 m
HAMBURG, May 9, 2016 - alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) ('alstria'), the leading German office REIT, announces its result for the first three months of 2016.
Revenues of EUR 51.1 m and FFO of EUR 29.0 m
alstria's rental revenues amounted to EUR 51.1 m in the first quarter of 2016 und thus increased by EUR 1.6 % compared to the pro-forma revenues of alstria and Deutsche Office in the first quarter 2015 (EUR 50.3 m).
Funds from operations (after minorities) amounted to EUR 29.0 m and improved by 24.8% from EUR 23.2 m (pro forma Q1 2015). The increase is due to lower vacancy leading to higher revenues, savings in financing costs, as well as lower administration and personnel expenses. The consolidated Net result (after minorities) amounted to EUR 14.0 m in the reporting period.
Net LTV further down to 49.0%, EPRA NAV per share up by 1.7%
Within the first three months of 2016 alstria's equity (after minorities) increased by 0.9% to EUR 1,634 m, reflecting the positive profit contribution in the first quarter of 2016. alstria's EPRA NAV per share improved by 1.7% to EUR 11.10. The G-REIT equity ratio amounted to 49.7% and the Company's Net LTV improved to 49.0% as per March 31, 2016.
Leasing performance
alstria and Deutsche Office recorded a strong leasing performance in the first quarter of the year with new leases of 14,900 sqm, as well as lease extensions of around 19,600 sqm. The EPRA vacancy rate was down by 30 bps to 10.9% compared to December 31, 2015.
Full-year guidance confirmed
Based on the results of the first quarter alstria confirms its guidance for the FY 2016: revenues of EUR 200 m and FFO of EUR 115 m (after minorities).
'The strong improvement of our FFO in the first quarter 2016 compared to the pro-forma numbers demonstrates alstria's strength and the rational of the combination with Deutsche Office. We took profit of the liquid leasing market and successfully managed to reduce the vacancy in our portfolio', said Olivier Elamine, CEO of alstria. 'Based on our operating capabilities we are optimistic to continue this positive trend in the coming months.'
Key financials at a glance
Q1 2016 Q1 2015* Change Revenues (EUR m) 51.1 50.3 1.6% Funds from operations (FFO) (EUR m) 29.0 23.2 24.8% FFO per share (EUR) 0.19 0.15 24.8%
Mar.31, 2016 Dec.31, 2015 Change Investment properties (EUR m) 3,261 3,260 0.0% Cash at hand (EUR m) 127.8 460.3 -72.2% EPRA NAV per share (EUR) 11.10 10.91 1.7% G-REIT equity ratio (%) 49.7 49.4 0.3 pp Net LTV ratio (%) 49.0 49.3 -0.3 pp
* Pro forma alstria and Deutsche Office Q1 2015
Invitation to the conference call on May 10, 2016 The alstria management board, CEO Olivier Elamine and CFO Alexander Dexne, will present the Q1 results during a conference call at 10:00 am (CET).
Please use one of the following dial-in numbers: Germany: + 49 69 222229043 UK: +44 203 0092452 PIN: 24265914#
Please note that you can watch the management's presentation live as a webcast on our website www.alstria.com. As soon as the conference call begins, the presentation slides will be available for download
Contact IR/PR: Ralf Dibbern Bäckerbreitergang 75 20355 Hamburg, Germany Tel: +49 (0) 40 226 341 329 Email: rdibbern@alstria.de
More information on: www.alstria.com www.alstria.blogspot.com www.twitter.com/alstria_REIT
About alstria: alstria office REIT-AG is an internally managed Real Estate Investment Trust (REIT) focused solely on acquiring, owning and managing office real estate in Germany. alstria was founded in January 2006 and was converted into the first German REIT in October 2007. Its headquarters are in Hamburg. The combination of alstria and Deutsche Office creates the leading listed German office real estate company with a combined portfolio of 121 office buildings comprising 1.7 million sqm of lettable space and representing a total portfolio value of approximately EUR 3.3 billion (as of March 31, 2015). The alstria office REIT-AG strategy is based on active asset and portfolio management as well as on establishing and maintaining good relationships with key customers and decision makers. alstria focuses on long-term real estate value creation.
Disclaimer: This release constitutes neither an offer to sell nor a solicitation of an offer to buy any shares. As far as this press release contains forward-looking statements with respect to the business, financial condition and results of operations of alstria office REIT-AG (alstria), these statements are based on current expectations or beliefs of alstria's management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment - especially in the core business segments and markets of alstria. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences. alstria undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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09.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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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, Hamburg, Munich, Stuttgart; Terminbörse EUREX End of News DGAP News Service ---------------------------------------------------------------------------
461715 09.05.2016
DGAP-News: alstria office REIT-AG / Key word(s): Quarter Results alstria office REIT-AG: First quarter 2016
09.05.2016 / 17:39 The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Press release
First quarter 2016
- Revenues at EUR 51.1 m and funds from operations (FFO) at EUR 29.0 m
- Net LTV at 49.0% and REIT equity ratio at 49.7%
- EPRA vacancy rate down by 30 bps to 10.9%
- Guidance 2016 confirmed: revenues of EUR 200 m and FFO of EUR 115 m
HAMBURG, May 9, 2016 - alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1) ('alstria'), the leading German office REIT, announces its result for the first three months of 2016.
Revenues of EUR 51.1 m and FFO of EUR 29.0 m
alstria's rental revenues amounted to EUR 51.1 m in the first quarter of 2016 und thus increased by EUR 1.6 % compared to the pro-forma revenues of alstria and Deutsche Office in the first quarter 2015 (EUR 50.3 m).
Funds from operations (after minorities) amounted to EUR 29.0 m and improved by 24.8% from EUR 23.2 m (pro forma Q1 2015). The increase is due to lower vacancy leading to higher revenues, savings in financing costs, as well as lower administration and personnel expenses. The consolidated Net result (after minorities) amounted to EUR 14.0 m in the reporting period.
Net LTV further down to 49.0%, EPRA NAV per share up by 1.7%
Within the first three months of 2016 alstria's equity (after minorities) increased by 0.9% to EUR 1,634 m, reflecting the positive profit contribution in the first quarter of 2016. alstria's EPRA NAV per share improved by 1.7% to EUR 11.10. The G-REIT equity ratio amounted to 49.7% and the Company's Net LTV improved to 49.0% as per March 31, 2016.
Leasing performance
alstria and Deutsche Office recorded a strong leasing performance in the first quarter of the year with new leases of 14,900 sqm, as well as lease extensions of around 19,600 sqm. The EPRA vacancy rate was down by 30 bps to 10.9% compared to December 31, 2015.
Full-year guidance confirmed
Based on the results of the first quarter alstria confirms its guidance for the FY 2016: revenues of EUR 200 m and FFO of EUR 115 m (after minorities).
'The strong improvement of our FFO in the first quarter 2016 compared to the pro-forma numbers demonstrates alstria's strength and the rational of the combination with Deutsche Office. We took profit of the liquid leasing market and successfully managed to reduce the vacancy in our portfolio', said Olivier Elamine, CEO of alstria. 'Based on our operating capabilities we are optimistic to continue this positive trend in the coming months.'
Key financials at a glance
Q1 2016 Q1 2015* Change Revenues (EUR m) 51.1 50.3 1.6% Funds from operations (FFO) (EUR m) 29.0 23.2 24.8% FFO per share (EUR) 0.19 0.15 24.8%
Mar.31, 2016 Dec.31, 2015 Change Investment properties (EUR m) 3,261 3,260 0.0% Cash at hand (EUR m) 127.8 460.3 -72.2% EPRA NAV per share (EUR) 11.10 10.91 1.7% G-REIT equity ratio (%) 49.7 49.4 0.3 pp Net LTV ratio (%) 49.0 49.3 -0.3 pp
* Pro forma alstria and Deutsche Office Q1 2015
Invitation to the conference call on May 10, 2016 The alstria management board, CEO Olivier Elamine and CFO Alexander Dexne, will present the Q1 results during a conference call at 10:00 am (CET).
Please use one of the following dial-in numbers: Germany: + 49 69 222229043 UK: +44 203 0092452 PIN: 24265914#
Please note that you can watch the management's presentation live as a webcast on our website www.alstria.com. As soon as the conference call begins, the presentation slides will be available for download
Contact IR/PR: Ralf Dibbern Bäckerbreitergang 75 20355 Hamburg, Germany Tel: +49 (0) 40 226 341 329 Email: rdibbern@alstria.de
More information on: www.alstria.com www.alstria.blogspot.com www.twitter.com/alstria_REIT
About alstria: alstria office REIT-AG is an internally managed Real Estate Investment Trust (REIT) focused solely on acquiring, owning and managing office real estate in Germany. alstria was founded in January 2006 and was converted into the first German REIT in October 2007. Its headquarters are in Hamburg. The combination of alstria and Deutsche Office creates the leading listed German office real estate company with a combined portfolio of 121 office buildings comprising 1.7 million sqm of lettable space and representing a total portfolio value of approximately EUR 3.3 billion (as of March 31, 2015). The alstria office REIT-AG strategy is based on active asset and portfolio management as well as on establishing and maintaining good relationships with key customers and decision makers. alstria focuses on long-term real estate value creation.
Disclaimer: This release constitutes neither an offer to sell nor a solicitation of an offer to buy any shares. As far as this press release contains forward-looking statements with respect to the business, financial condition and results of operations of alstria office REIT-AG (alstria), these statements are based on current expectations or beliefs of alstria's management. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or performance of the Company to differ materially from those reflected in such forward-looking statements. Apart from other factors not mentioned here, differences could occur as a result of changes in the overall economic situation and the competitive environment - especially in the core business segments and markets of alstria. Also, the development of the financial markets and changes in national as well as international provisions particularly in the field of tax legislation and financial reporting standards could have an effect. Terrorist attacks and their consequences could increase the likelihood and the extent of differences. alstria undertakes no obligation to publicly release any revisions or updates to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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09.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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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, Hamburg, Munich, Stuttgart; Terminbörse EUREX End of News DGAP News Service ---------------------------------------------------------------------------
461715 09.05.2016
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