DGAP-News: alstria office REIT-AG / Key word(s): Half Year Results alstria office REIT-AG: First half 2015 / Business development in line with FY guidance 03.08.2015 / 17:35 --------------------------------------------------------------------- Press release First half 2015 Business development in line with FY guidance - Revenues at EUR 48.3 m and funds from operations (FFO) at EUR 23.2 m - Full-year guidance confirmed (revenues EUR 98 m and FFO EUR 49 m) - Strong operating performance: 22,200 sqm of new leases signed Hamburg, August 3, 2015 - alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces its results for the first six months of 2015. Revenues of EUR 48.3 m and FFO of EUR 23.2 m In the first six months of 2015, alstria's revenues amounted to EUR 48.3 m. The decrease by 6.1% compared to the first half of 2014 was mainly due to asset sales as well as planned expiries of rental contracts. The funds from operations (FFO) reached EUR 23.2 m in the first six months of 2015 and were fully in line with alstria's FY guidance. The FFO per share stood at EUR 0.27 (EUR 0.31 in H1 2014). alstria's net profit for the first six months of 2015 amounted to EUR 15.1 m and was impacted by one-off costs related to the intended takeover of DO Deutsche Office AG. EPRA NAV per share at EUR 11.05 As at June 30, 2015, alstria's investment property totalled EUR 1,615 m and was down by 1.9% compared to December 31, 2014. The slight decrease reflected capitalised expenditure (EUR 11.2 m), mainly related to development projects on the one hand and the disposal of three properties (classified as assets held for sale) and one plot of land (total: EUR 42.3 m) on the other hand. Within the first six months of 2015, alstria's equity increased by 8.9% to EUR 922.2 m, reflecting the capital increase in March 2015, the dividend payment to alstria's shareholders in the second quarter and the positive net profit contribution of the first six months of 2015. As at June 30, 2015, alstria's G-REIT equity ratio amounted to 54.3% and the Company's net LTV stood at 46.1%. Operational performance In the first half of the year alstria signed new leases of 22,200 sqm, as well as lease extensions of around 12,100 sqm. The EPRA vacancy rate stood at 10.5%, and was down by 60 bps compared to March 31, 2015. Full-year guidance confirmed, takeover process of Deutsche Office in line with plan 'In the first half of 2015 alstria developed in line with our guidance. We still expect revenues of EUR 98 m and FFO of EUR 49 m for FY 2015, with the bulk of the savings on financial expenses starting in the second half of the year,' said Olivier Elamine, CEO of alstria. 'With the strong support of our shareholders, who recently approved the capital increase, the takeover of Deutsche Office develops according to plan. The next step will be the publication of the offer document by end of August, followed by an acceptance period of Deutsche Office shareholders of up to six weeks.' Key financials at a glance H1 2015 H1 2014 Change (%) Revenues (EUR m) 48.3 51.5 - 6.1 Net result for the period (EUR m) 15.1 6.6 129.6 Funds from operations (FFO) (EUR m) 23.2 24.5 - 5.2 FFO per share3 (EUR) 0.27 0.31 - 12.9 June 30, 2015 Dec. 31, 2014 Change (%) Investment properties (EUR m) 1,615 1,646 -1.9 Cash at hand (EUR m) 123.1 63.1 94.9 EPRA NAV per share (EUR) 11.05 11.22 -1.5 G-REIT equity ratio (%) 54.3 50.2 4.1 pp Net LTV ratio (%) 46.1 50.4 -4.3 pp Invitation to the conference call on August 4, 2015 The alstria management board, CEO Olivier Elamine and CFO Alexander Dexne, will present the H1 results during a conference call at 10.00 am (CET). Please use one of the following dial-in numbers: Germany: +49 69 222 22 9043 UK: +44 203 009 2452 PIN: 242 65 914# 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 will be available for download. 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 Company owns a diversified portfolio of properties across attractive German office real estate markets. As of June 30, 2015 its portfolio comprised 74 properties with an aggregate lettable space of 873,000 sqm and is valued at approximately EUR 1.7 bn. 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. Contact: Ralf Dibbern, IR/PR Phone: +49 40 226 341329 Email: rdibbern@alstria.de For further information: www.alstria.com www.alstria.blogspot.com www.twitter.com/alstria_REIT 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. --------------------------------------------------------------------- 03.08.2015 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 --------------------------------------------------------------------- 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: SDAX, EPRA, German REIT Index Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 383085 03.08.2015
DGAP-News: alstria office REIT-AG: First half 2015 / Business development in line with FY guidance
| Source: EQS Group AG