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EQS-News: DIC Asset AG / Key word(s): Half Year Report
DIC Asset AG: First half of 2023 influenced by the geopolitical environment – “Performance 2024” action plan to strengthen the company
Frankfurt am Main, 3 August 2023. DIC Asset AG (“DIC”), ISIN: DE000A1X3XX4, one of Germany’s leading listed property companies, published its financials for the first half of 2023 today. The financial results are influenced by the current geopolitical environment, rising interest rates and inflation. All of this is leading to persistent reluctance on the transaction market, among other things, and is influencing the results for the first half of the year. As a result, the funds from operations (“FFO”) (after non-controlling interests, before taxes) equalled EUR 22.4 million (previous year: EUR 53.0 million).
What is decisive for the future, however, is that DIC immediately launched the “Performance 2024” action plan in response to the changed conditions. This plan defines five key priorities on which the company will work. The objective of the action plan is to sustainably strengthen the company’s liquidity and to reduce its debt volume, to keep implementing the planned transactions from the company’s proprietary portfolio, to bolster the operational portfolio business through a strong letting performance, to place further investment vehicles, as well as to optimise and lower the operating costs.
“What sets DIC apart is the speed and consistency with which we have always responded to changes in the market. For example, with the acquisition of VIB last year, we decisively expanded our activities in logistics and set the strategic course for the future. We have also ensured that a significantly higher proportion of our FFO than before benefits from long-term recurring and plannable sources. And with the same strategic consistency, we are now setting the framework with our ‘Performance 2024’ action plan to position our company successfully and with stable earnings in a changed world,” said Sonja Wärntges, CEO of DIC.
H1 2023 financials:
Adjusted 2023 forecast confirmed
Against the background of lingering geopolitical uncertainties, persistent inflation, and the further increase in interest rates, DIC proceeded to adjust its forecast for the financial year in progress as early as 7 July 2023. With the publication of the half-year results for 2023, DIC confirmed that it would uphold the adjusted forecast for its key earnings ratios. On the whole, the company expects the FFO for the 2023 financial year (after non-controlling interests, before taxes) to range between EUR 50 and 55 million.
Invitation to attend investor call / webcast on 3 August 2023
The Management Board of DIC Asset AG invites you to attend the presentation of the financial statement for the first half-year of 2023 on 3 August 2023 at 10:00 CEST.
To attend the conference call, please register at:
The webcast (incl. replay) is available under the link below:
For more details on DIC Asset AG, visit the company’s homepage at
About DIC Asset AG:
DIC Asset AG is Germany’s leading listed specialist for office and logistics real estate with 25 years of experience on the real estate market and access to a broad-based network of investors. Our business is based on a regional and inter-regional real estate platform with nine offices on the ground in all major German markets (with VIB Vermögen AG included). We currently manage a total of 358 assets with a combined market value of EUR 14.2 billion on site, always close to our properties and their occupiers.
The Commercial Portfolio segment comprises real estate held for our own account. Here, we generate steady cash flows from stable rent revenues on long-term leases while also optimising the value of our portfolio assets through active management, and realising gains from sales.
In the Institutional Business segment, we earn recurrent fees from real estate services we provide to national and international institutional investors by structuring and managing investment products that return attractive dividend yields.
IR Contact DIC Asset AG:
DIC Asset AG at a glance
* Warehoused assets not included
** Per-share figures adjusted according to IFRS (number of shares on 30/06/2023: 83,565k 31/12/2022: 83,152k)
*** Incl. full value of the Institutional Business
**** Commercial Portfolio without properties to be repositioned and warehoused assets
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|Company:||DIC Asset AG|
|Neue Mainzer Straße 20|
|60311 Frankfurt am Main|
|Phone:||+49 69 9454858-1492|
|Fax:||+49 69 9454858-9399|
|ISIN:||DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9|
|WKN:||A1X3XX, A12T64, A2GSCV, A2NBZG|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange|
|EQS News ID:||1694727|
|End of News||EQS News Service|