-
Strong growth of revenues and funds from operations (FFO)
-
Revenues at EUR 75.1 m (+12.7%)
and FFO at EUR 32.0 m (+25.2%)
-
EPRA NAV per share at EUR 10.90
-
FFO guidance 2012 up from EUR 40 m to EUR 43 m
-
Publication of Sustainability Report 2012
Hamburg, November 6, 2012 – alstria office REIT-AG
(symbol: AOX, ISIN: DE000A0LD2U1), the leading German office REIT, announces its
result for the first nine months of 2012.
Revenues of EUR 75.1
m and FFO of EUR 32.0 m
In the first nine months of 2012, alstria’s revenues
increased by 12.7% year-on-year to EUR 75.1 m, mainly as a result of
the acquisition of real estate assets. The funds from operations (FFO) improved
by 25.2% to EUR 32.0 m in the first nine months of 2012, driving the FFO margin
by 4.2 percentage points to 42.6%. This development was driven by alstria’s increased
revenue base, a sub- proportional growth of financing costs and efficiency
gains. alstria’s FFO per share increased by 13.9% to EUR 0.41 (Q1-Q3 2011:
EUR 0.36), again demonstrating the Company’s ability to deliver on FFO
accretion. The net profit for the first nine months of 2012 amounted to EUR 32.5 m
and was up by 17.9% compared to the prior year period.
Further balance
sheet improvement
Successful letting activities
Since the beginning of the year, alstria has
signed new leases[2]
for a total lettable area of 21,000 sqm and extended 42,500 sqm of expiring
leases. The EPRA vacancy rate[3]
stood at 8.2% and was down by 40 bps compared to June 30, 2012. With
regard to the new acquisitions the Company was able to reduce the vacancy by
15%, driving like-for-like rents up by 5.3% in this specific portfolio.
“We have been steadily and
continuously improving our FFO per share since we came back to the market at
the end of 2010”, said Olivier Elamine, CEO of alstria. “We are still scouting
the market for further acquisition opportunities that would allow us to invest
our current cash at hand. The recent success of our real estate operations in
leasing is ahead of our plans and should allow us to further add value to the
newly acquired assets.”
Based on the results for the first nine months
2012 alstria specifies its forecast for the 2012 financial year: While the
guidance for annual revenues of EUR 100 m (2011: EUR 90.7 m)
is maintained, the FFO is expected to grow by almost 25% to EUR 43 m (2011:
EUR 34.7 m).
New sustainability
report published
Today alstria
has published its new Sustainability Report for the year 2012. The report,
which has a GRI self-declared B application level, demonstrates the substantial
progress done in terms of sustainability reporting by the Company. This report
is one of the first financial/CSR reports published globally to use Augmented
Reality features, therefore substantially improving the reading experience of
our stakeholders.
Key financials at a glance
Q1-Q3 2012
|
Q1-Q3 2011
|
Change
|
|
Revenues (EUR m)
|
75.1
|
66.6
|
12.7 %
|
Net result for the
period (EUR m)
|
32.5
|
27.6
|
17.9 %
|
Funds from
operations (FFO) (EUR m)
|
32.0
|
25.6
|
25.2 %
|
0.41
|
0.36
|
13.9 %
|
Sep. 30, 2012
|
Dec. 31, 2011
|
Change
|
|
Investment properties
(EUR m)
|
1,630
|
1,529
|
6.6 %
|
Cash at hand (EUR m)
|
70.1
|
96.0
|
-27.0 %
|
EPRA NAV per share (EUR)
|
10.90
|
11.32
|
-3.7 %
|
G-REIT equity ratio (%)
|
49.5
|
48.7
|
0.8 pp
|
Net LTV ratio (%)
|
48.1
|
50.2
|
-2.1 pp
|
Invitation to the
conference call on November 06, 2012
Please use the following dial-in numbers:
Germany: +49 (0) 6958 999 0805
UK: +
44–207–153-2027
Ralf Dibbern, IR/PR
Phone: +49 (0) 40 226 341 329
Email: rdibbern@alstria.de
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