Deutsche Konsum REIT-AG / Key word(s): Results Forecast
Publication of an inside information pursuant to Article 17 MAR
Deutsche Konsum REIT reduces FFO target for financial year 2022/2023 to EUR 36 to 39 million
Potsdam, 4 May 2023 - The Management Board of Deutsche Konsum REIT-AG ("DKR" or “Company”) (ISIN DE000A14KRD3) has updated its guidance for the current financial year and reassessed its FFO target today. Accordingly, the Management Board now expects funds from operations ("FFO") of between EUR 36 and 39 million for the current financial year 2022/2023, thus reducing the previous guidance (EUR 40 to 44 million) by around 10%.
The reason for the reduction of the FFO target is, on the one hand, the general situation on the real estate transaction market and the current high spreads between supply and demand prices, because of which the Company has not pursued significant new acquisitions in the first half of the financial year that were anticipated before. On the other hand, the general rise in interest rates affects the FFO, as it results in increased interest expenses for parts of the financial liabilities (those which are subject to variable interest rates, as well as for current new financing and refinancing agreements, which are now concluded at higher interest rate levels).
End of Inside Information
|Company:||Deutsche Konsum REIT-AG|
|Phone:||+49 (0)331 740076517|
|Fax:||+49 (0)331 740076520|
|Listed:||Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange; JSE Securities Exchange|
|EQS News ID:||1624851|
|End of Announcement||EQS News Service|