DGAP-Ad-hoc: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Change in Forecast
DEMIRE: Forecast for rental income increased to approximately EUR 74 million and FFO I (after taxes, before minorities) to approximately EUR 23 - 24 million for the fiscal year ending December 31, 2018
Langen, November 7, 2018 - Due to the positive business development and the successful implementation of the DEMIRE 2.0 strategy in the first nine months of the fiscal year ending December 31, 2018, the executive board (Vorstand) of DEMIRE Deutsche Mittelstand Real Estate AG has adjusted the forecast for the fiscal year ending December 31, 2018. Compared to the previous planning, a stronger increase in earnings from the rental of real estate is expected overall. This is due to, on the one hand, expected higher rental income, lower operating expenses to generate rental income as well as, on the other hand, to expected lower investment measures for the fiscal year ending December 31, 2018.
The previous forecast for rental income for the fiscal year ended December 31, 2018 is raised from EUR 71 - 73 million to approximately EUR 74 million. The previous forecast for funds from operations (FFO I, after taxes, before minorities) in the fiscal year ending December 31, 2018 is raised from EUR 16 - 18 million to approximately EUR 23 - 24 million. As of September 30, 2018, rental income was approximately EUR 55 million and FFO I approximately EUR 18 million.
All published figures are preliminary and unaudited. The final figures for the third quarter of 2018 will be published on November 15, 2018.
Explanatory notes on the term Funds from operations (FFO I, after tax, before minorities) can be found in the DEMIRE Half-Year Report 2018 on page 23. The report is available online at: https://www.demire.ag/en/investor-relations.
07-Nov-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||DEMIRE Deutsche Mittelstand Real Estate AG|
|Robert-Bosch-Straße 11 im 'the eleven'|
|63225 Langen (Hessen)|
|Phone:||+49 6103 37249-0|
|Fax:||+49 6103 37249-11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
742473 07-Nov-2018 CET/CEST