Alstria sees advantages to office boom
Alstria office REIT-AG increased its consolidated net profit in 2018 by 77.6% to €527.4mn, thanks to valuation gains of €399mn and good rental business. It had let 203,300 sqm, of which 110,800 sqm involved new leases. The average rent price rose to €12.25/sqm, while like-for-like rental income rose by 3.6%. Revenues were at €193.2mn, close to the previous year’s level, while FFO increased from €113.8mn to €114.7mn. The annual forecasts, which had been raised mid-year, were met in both cases. “We have taken advantage of the very strong rental and investment markets in Germany in recent years,” said Alstria CEO Olivier Elamine. The company will distribute dividends at 52 cents per share, as it did in the previous year.
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