DIC – Deutsche Immobilien Chancen
DIC Asset is a yield-oriented real estate company with a clear investment strategy focusing on commercial real estate in Germany, with particular emphasis on the office and retail sectors. Real estate assets
under management currently (June 2010) amount to approx. Euro 3.2 billion.
The real estate portfolio is divided into three segments:
Core plus Portfolio
The Core plus Portfolio comprises properties with high-yield leases which are to be held and managed as investments over the longer term. Properties in the Core plus segment are leased long-term to tenants of good financial standing and have high occupancy rates.
Value added Portfolio
Typically, properties in the Value added Portfolio have been acquired at favorable prices, for example as part of a package, and/or have been identified by us as having value growth potential, which we consider we can harness in the short to medium term using appropriate measures (for example by optimizing the utilization strategy or the take-up rate, or through refurbishment) and realize via re-sale.
Opportunistic Investments
On a case-by-case basis, we take participations in the opportunistic investment transactions of DIC Deutsche Immobilien Chancen AG & Co. KGaA as a passive investor. These are investments in properties which can be repositioned in the market via project development, the arrangement of new or substitute leases and other measures. We are thus able to complement our portfolio with investments with a higher risk/reward profile. This opens up new earnings potential for us.
Alongside yield-based real estate investment, we are also concerned with identifying and realizing the full value-creating potential of our investments. In this process, DIC Asset AG can call upon the expertise of its employees and independently implement appropriate value-adding measures in the majority of its business areas, namely Portfolio Strategy and Management, Sales and Acquisitions, Transaction Management and Administration, and Asset and Property Management.
Facts and figures at a glance
(accounting principles in accordance with International Financial Reporting Standards - IFRS)
| (Mio. Euro) |
2005 | 2006 | 2007 | 2008 |
2009 |
|---|---|---|---|---|---|
 |
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|
Total revenues |
43.1 | 110.9 | 236.2 | 207.1 | 171.3 |
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|
EBITDA |
18.7 | 37.0 |
99.8 | 125.0 | 110.8 |
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|
EBIT |
14.7 | 28.5 | 80.0 | 97.0 | 80.3 |
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|
FFO |
7.4 | 21.8 | 44.6 | 42.7* | 47.6 |
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| Profit for the period | 6.4 | 15.0 |
36.1 | 25.2 | 16.1 |
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| Balance sheet total | 369.8 | 1,343.7 |
2,121.5 | 2,214.8 | 2,213.4 |
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| Equity | 115.3 | 534.0 |
612.7 | 533.8 | 530.7 |
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|
Equity ratio (%) |
31.2 | 39.7 | 28.9 | 24.1 | 24.0 |
* excluding the profit from syndication of development
