DIC Asset: Fund business grows by 73%


DIC Asset achieved its maximum FFO target of €68mn (+13%), which had been revised upwards in November, thus setting a new record. Strong growth was seen first and foremost in fund revenues (+73% to €37.3mn, of which more than €20mn were proceeds from transactions). Rental income from the directly held portfolio fell to a good €100mn due to disposals; a like-for-like increase of 2.7% and an increase in value of around €160mn. Consolidated earnings rose by 6% to €47.6mn, discounting the one-time impact of WCM shares being swapped for TLG shares in the previous year. DIC expects similar rental income this year, and anticipates acquisitions of around €500mn and sales of up to €230mn. Its FFO target is between €70mn and €72mn.

TD Premium

Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.

TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.