Deutsche Konsum REIT-AG Completes Bond Refinancing and Achieves Stable Performance

Deutsche Konsum REIT-AG has successfully completed its bond refinancing and reported a solid operational business performance for the first nine months of the 2023/2024 financial year.

Rental income grew by 0.9% to EUR 59.2 million. Net rental income increased by 3.2% to EUR 37.8 million. However, FFO saw an 11% decrease to EUR 24.1 million due to higher interest expenses.

The real estate portfolio consists of 183 properties valued at EUR 1.0 billion, generating an annual rent of EUR 75.9 million. Successful refinancing and property sales have enabled significant debt reduction, with net LTV at 61.4%.

The company forecasts FFO for the full fiscal year to be between EUR 27 million and EUR 30 million. The EPRA NTA per share stands at EUR 7.69 as of June 30, 2024.