DGAP-News

Deutsche Wohnen raises earnings for 2015 by about 38 per cent

DGAP-News: Deutsche Wohnen AG / Key word(s): Forecast
Deutsche Wohnen raises earnings for 2015 by about 38 per cent

11.01.2016 / 08:00
The issuer is solely responsible for the content of this announcement.

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Deutsche Wohnen raises earnings for 2015 by about 38 per cent

- Increase of FFO I by 38 per cent to about EUR 300 million or EUR 0.94
per share

- Portfolio appreciation by around EUR 1.7 billion and increase in EPRA
NAV by 27 per cent to approx. EUR 23 per share

- Substantial reduction of leverage ratio to around 38 per cent

- Further increase of FFO I by around 20 per cent to at least EUR 360
million expected for 2016

- Raise of payout ratio to 65 per cent of FFO I from financial year 2016
onwards

Frankfurt/Main and Berlin, 11 January 2016. For the financial year ending
31 December 2015, Deutsche Wohnen expects FFO I to come in above the latest
forecast at around EUR 300 million (previous year: EUR 217.6 million). This
represents an increase of 38 per cent on the previous year. FFO I
per share is set to improve by some 24 per cent to around EUR 0.94
(previous year: EUR 0.76).

Deutsche Wohnen benefited repeatedly from a dynamic market environment in
the 2015 financial year, particularly in the Core+ and Core regions. Thus,
Deutsche Wohnen will increase its EPRA NAV per share by presumably 27 per
cent, reaching a level of EUR 23 per share (previous year: EUR 18.10 per
share). Overall, the value of the portfolio is expected to increase by EUR
1.7 billion in the financial year 2015 compared with that of the 31
December 2014 reporting date. This corresponds to an in-place rents
multiplier of around 18.2x (previous year: 15.5x) for the entire portfolio
and around 19.4x (previous year: 16.1x) for Berlin.

The leverage ratio will expectedly be around 38 per cent as of 31 December
2015. The company aims to maintain its conservative financing policy within
the current market environment.

For the 2016 financial year, Deutsche Wohnen is forecasting a further
increase in FFO I of some 20 per cent against the past financial year to at
least EUR 360 million. The basis for this forecast is the FFO contribution
made by the previously announced additions to the portfolio, the
successfully concluded refinancing measures as well as the positive
development throughout the 2015 financial year, which the Management Board
expects to continue in 2016. The forecast relates to the current portfolio