Dic Asset pays unchanged dividend after profit increase – decline in profit expected

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FRANKFURT (dpa-AFX) – The real estate group Dic Asset reached its profit targets last year. In daily operations, operating profit, measured by the indicator of Funds from Operations (FFO) established in the real estate industry, increased by approximately seven percent to 114.2 million euros, announced the -commercial real estate specialist in Frankfurt on Wednesday. Therefore, the result was at the very end of the issued range of 114 to 117 million euros. Assets under reported management increased to a record 14.7 billion euros. Dic Assets plans to pay its shareholders a dividend at the previous year’s level of 0.75 euros per share.

In the coming year, the company expects a decrease in earnings. The FFO operating profit is expected to be between 90 and 97 million euros. Dic Asset justified this with the more difficult conditions in the real estate investment market. In light of the change in the interest rate environment from 2022

interest rate environment from 2022 and the impact is not yet clear of weaker

on real estate demand in Germany, the company expects a delay in real estate investment

particularly in the first half of the year, the company expects delays in acquisitions and sales. In terms of dividend policy, Dic Asset intends to focus on continuity and continue to distribute at least 50 percent of FFO.

The SDax-listed share initially rose 1.3 percent in after-hours trading on trading platform Tradegate./nas/ck

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