Deutsche Industrie REIT-AG: Deutsche Industrie REIT-AG announces results for the first quarter of the financial year 2020/2021

Potsdam (pta005/11.02.2021/07:30 UTC+1)

Deutsche Industrie REIT-AG (ISIN DE000A2G9LL1) has successfully completed the first three months of the new 2020/2021 financial year (Q1 2020/2021).

• Rental income increased from EUR 8.8 million to EUR 11.9 million
• FFO grows from EUR 5.0 million to EUR 7.9 million
• FFO per share increases by 30% (from EUR 0.19 to EUR 0.25 per share)
• Real estate assets of EUR 607 million recognised in the balance sheet
• Net LTV at 39.7%
• FFO forecast of EUR 32 million to EUR 34 million for financial year 2020/2021 confirmed

Property portfolio grew to EUR 606.7 million

Deutsche Industrie REIT-AG continues its portfolio growth in the first quarter of 2020/2021 (1 October 2020 – 31 December 2020). As of the reporting date 31/12/2020, a total of 73 properties amounting to EUR 606.7 million were recognised. Six additional properties were acquired for which the change of ownership took place or will take place after the balance sheet date of 31 December 2020.

Considering all properties that have already been notarised, the pro forma portfolio totals 79 properties with a commercial area of 1.4 million m², an annualised total rent of approximately EUR 51.7 million and a portfolio value of around EUR 628.4 million.

The company continues to examine concrete purchase objects and expects further acquisitions in the current financial year. 

Positive quarterly result

With net rental income of EUR 9.1 million, DIR was able to generate FFO (Funds From Operations) of EUR 7.9 million, a significant increase compared to the same quarter of the previous year (Q1 2019/2020 EUR 5.0 million). The FFO, as a key figure of operating activities, now increases from EUR 0.19 to EUR 0.25 and thus rises by 30%.

The EPRA NAV (Net Asset Value) was EUR 11.98 per share as at 31 December 2020 (EUR 11.74 per share as at 30 September 2020). The Net LTV (Loan-to-Value) of the company was 39.7% as at 31 December 2020.

Dividend payment

For the past financial year 2019/2020, we want our shareholders to participate in the success of the company again and have therefore proposed to the Annual General Meeting on 12 March 2021 that a dividend of EUR 0.24 per dividend-bearing share be paid for the financial year 2019/2020.

Optimistic business outlook for 2020/2021 and FFO forecast confirmed

The ongoing Corona pandemic and the second lockdown have so far had little impact on DIR's results with its industrial tenant mix. As the overall economic impact of SARS-CoV-2 can only be estimated to a limited extent in the further course of the financial year, future effects on the result cannot be completely ruled out.

DIR's business development has been positive in the past three months, which is why the Management Board confirms its forecast of FFO between EUR 32 million and EUR 34 million for the 2020/2021 financial year.

The FFO - run rate (annualised FFO excluding accrual effects) is still forecast at EUR 38 million to EUR 40 million at the end of the 2020/2021 financial year.

Conference call

Deutsche Industrie REIT-AG will hold an analyst conference call on the results of the first quarter 2020/2021 today at 11:00 am (CET). The conference language will be English.

Publications on the quarterly results Q1 2020/2021

The quarterly announcement Q1 2020/2021, the presentation on the results of the first three months of the financial year 2020/2021 and further information on the company can be found at:

https://deutsche-industrie-reit.de/en/investor-relations/ 

Details of DIR's current property portfolio can be found at:

https://deutsche-industrie-reit.de/en/property/portfolio/ 

About Deutsche Industrie REIT-AG

Deutsche Industrie REIT-AG makes sustainable investments in light industrial real estate in Germany. Light Industrial includes not only the activities of storage and distribution of commercial goods, but also their administration and production. The asset class consists mainly of medium to large industrial and commercial park sites. The areas are usually more complex than pure logistics properties and have a high local relevance.

The share is listed on the regulated market of Börse Berlin and in the Prime Standard of the Frankfurt Stock Exchange. Since the beginning of 2018, the company has obtained the status of a REIT ("real estate investment trust") and the corporate tax exemption.

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Emitter:	Deutsche Industrie REIT-AG August-Bebel-Str. 68 14482 Potsdam Germany
Contact Person:	René Bergmann
Phone:	+49 331 740 076 535
E-Mail:	rb@deutsche-industrie-reit.de
Website:	www.deutsche-industrie-reit.de
ISIN(s):	DE000A2G9LL1 (Share)
Stock Exchange(s):	Regulated Market in Berlin, Frankfurt