DIC Asset AG raises profit forecast
DIC Asset AG / Miscellaneous
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
The Management Board of DIC Asset AG (German Securities ID 509840 / ISIN DE0005098404) has raised its forecast for the Company’s 2007 profits (earnings after taxes and depreciation) to Euro 36 to 38 million; the previous forecast was Euro 32 to 35 million. The increase is predominantly due to the positive business development during the first half of 2007: thanks to success in acquisitions, DIC Asset AG has already invested in excess of Euro 550 million this year. These investments will have an adequate impact on results for the second half of 2007. Business during the first six months was also characterised by continued high-quality growth in asset management and property management. The sale of the ‘Mustang’ portfolio to two Luxembourg-based investors – notarised in April, and subsequently closed – also contributed significantly to the gratifying results. Moreover, a residential portfolio and several individual properties were sold during the second quarter.
According to preliminary figures, second-quarter EBITDA (earnings before interest, income taxes, depreciation and amortisation) was approx. Euro 29 million (Q2 2006: Euro 5.1 million), bringing EBITDA for the first half of 2007 to approx. Euro 45 million (first half of 2006: Euro 9.4 million). Six-month earnings before taxes (EBT) are expected to amount to Euro 22 million (first half of 2006: Euro 4.9 million).
DIC Asset AG will publish a detailed report on the first half of 2007 on 13 August 2007.
Grünhof - Eschersheimer Landstraße 223
60320 Frankfurt am Main
Issuer: DIC Asset AG
Eschersheimer Landstr. 223
60320 Frankfurt Deutschland
Phone: +49 69 9454858-0
Fax: +49 69 9454858-99
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, München, Stuttgart, Düsseldorf
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