News Detail - DIC Assets

DIC Asset AG triples results in the first quarter of 2006

DIC Asset AG / Quarter Results

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.

DIC Asset AG (German Securities ID 509840 / ISIN DE0005098404) presented its first quarterly report today, posting strong growth and high profitability for the first quarter of 2006. At EUR 1.3 million, DIC Asset AG’s consolidated net income was up EUR 1 million on the first quarter of 2005, or more than three times higher than a year ago. This dynamic growth was driven predominantly by strong increases in rental income, and by higher net interest income.

Rental income was up strongly, by 33% to EUR 6.0 million during the first quarter, as a result of the expansion in the real estate portfolio to just under 270,000 m² (up 24%). The corresponding EUR 1.1 million increase in total expenditure, to EUR 3.6 million, was in line with projections, and predominantly attributable to staff hiring.

First-quarter EBITDA (earnings before interest, income taxes, depreciation and amortization) was up 16%, to EUR 4.3 million, whilst EBIT (earnings before interest and income taxes) rose by 15%, to EUR 3.2 million.
DIC Asset AG’s total assets stood at EUR 401.9 million as at 31 March 2006 (31 Dec 2005: EUR 369.8 million).

DIC Asset AG
Stephan Gramkow
Eschersheimer Landstrasse 223
60320 Frankfurt/Main, Germany
Fon +49 69 274033-10
Fax +49 69 274033-70 

DGAP 31.05.2006 

Language:     English
Issuer:       DIC Asset AG
              Eschersheimer Landstr. 223
              60320 Frankfurt Deutschland
Phone:        069 / 274033-0
Fax:          069 / 274033-69
ISIN:         DE0005098404
WKN:          509840
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in               Berlin-Bremen, Stuttgart, München
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