DO Deutsche Office AG
DO Deutsche Office AG publishes Consolidated Interim Statement Q1/2016
DGAP-News: DO Deutsche Office AG / Key word(s): Interim Report Cologne May 9, 2016. DO Deutsche Office AG (“Deutsche Office”, Symbol: PMOX, ISIN: DE000PRME020) publishes Consolidated Interim Statement Q1/2016. Planned transformation into a limited partnership The Supervisory Board of the Company approved the proposal of the Executive Board to prepare Deutsche Office for the transformation into a GmbH & Co. KG. Subject to the final decision of the Executive and Supervisory Board of Deutsche Office, a resolution on this structural measure shall be adopted at the 2016 Annual General Meeting. No dividend payment in 2016 5,600 sqm new lease in the KASTOR TOWER in Frankfurt Loan repayment 2. Key figures for the development of earning positions Consolidated net profit for the quarter was EUR 10.8 million, which was lower than in the first quarter of 2015, in which a consolidated net profit of EUR 11.7 million was achieved. The decrease is mainly due to the valuation of derivative financial instruments. The operating result (“Funds from Operations”: FFO) increased from EUR 12.0 million in the first quarter 2015 by EUR 3.6 million to EUR 15.6 million in the reporting period, as both the finance costs and the administrative expenses significantly reduced as a result of restructuring after the takeover by alstria. 3. Key figures showing the assets and financial position The Group’s NAV increased to approximately EUR 720.9 million (December 31, 2015: EUR 709 million). On March 31, 2016, Deutsche Office had cash and cash equivalents of EUR 76.2 million (December 31, 2015: EUR 71.4 million). 4. Recent developments and outlook Further refinancing Operating result Risk management The Group is exposed through its business to various risks. For further details please refer to the Annual Report 2015. The overall risk situation of Deutsche Office has not changed.
Contact for corporate queries DO Deutsche Office AG alstria office REIT-AG About Deutsche Office Deutsche Office is a listed office property company, focusing on German metropolitan regions and conurbations. As at 31 December 2015, its geographically diversified real estate portfolio currently contains 49 properties held as investment properties, with a total rental area of about 880,000 square meters and an attractive and broad tenant base. As at 31 December 2015, the properties had a market value of about EUR 1.6 billion. Additional information on Deutsche Office is available online at:
2016-05-09 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English | |
Company: | DO Deutsche Office AG | |
Maarweg 165 | ||
50825 Cologne | ||
Germany | ||
Phone: | +49 (0)221 88829 100 | |
Fax: | +49 (0)221 88829 199 | |
E-mail: | info@deutsche-office.de | |
Internet: | www.deutsche-office.de | |
ISIN: | DE000PRME020 | |
WKN: | PRME02 | |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart | |
End of News | DGAP News Service |