Tuesday, August 23, 2011

alstria increases guidance on FFO to EUR 34 m

·        Rapid investment of proceeds from capital increase supports accretive growth
·        Closing of VastNed transaction as of August 24, 2011
·        Guidance on FFO/share 2011 is EUR 0.47 (up from EUR 0.45 in 2010)

Hamburg, August 24, 2011 – alstria office REIT-AG (symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT focused solely on acquiring, owning and managing office real estate in Germany, increases its financial guidance for the fiscal year 2011.

Following the acquisition of the VastNed portfolio alstria increases its financial guidance for the fiscal year 2011. As the transaction will be closed as of September 1, 2011 rental income for the full year is expected to be EUR 89 m (previous guidance: EUR 87 m) and the FFO will be EUR 34 m (previous guidance: EUR 32 m). Compared to fiscal year 2010 revenues therefore are expected to be stable, whilst the FFO is expected to grow by approximately 25%. Considering the new numbers of shares, FFO per share will increase by 2 cents per share, or around 6%. This development is a result of accretive acquisitions closed in the past months and the simultaneous deleveraging process of the company.

“The rapid investment of the proceeds from the recent capital increase immediately translates into higher revenues and FFO”, said Olivier Elamine, CEO of alstria office REIT-AG. “The increase is not only true on absolute numbers, but also translates into a higher FFO/share, testifying for the ability of the company to deliver on its promises to invest the funds raised in the capital increase in an earnings-accretive way”.

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. Its current portfolio comprises 79 properties with an aggregate lettable space of approx. 857,000 sqm and is valued at approximately EUR 1.5 bn. alstria office REIT-AG’s 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.

For further information, please contact:

Ralf Dibbern, IR/PR
Phone: +49 (0) 40 / 226 341-329

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.

No comments:

Post a Comment