FCR Immobilien AG starts with growth in earnings into 2021

DGAP-News: FCR Immobilien AG / Key word(s): Quarterly / Interim Statement
18.05.2021 / 11:30
The issuer is solely responsible for the content of this announcement.

FCR Immobilien AG starts with growth in earnings into 2021

- EBITDA improved during the 1st quarter of 2021 to EUR 3.9 million and EBT to EUR 2.0 million

- Increase in FFO to EUR 1.4 million

- NAV rises to EUR 115.6 million

Pullach im Isartal, 18.05.2021: FCR Immobilien AG ("FCR", ISIN DE000A1YC913) has recorded a very successful start of the year. During the 1st quarter of 2021 the earnings before interest, taxes, depreciation and amortization (EBITDA), according to IFRS figures, improved to EUR 3.9 million after EUR 3.5 million a year before. Earnings before taxes (EBT) increased to EUR 2.0 million, after EUR 1.5 million during the 1st quarter of 2020. The good business development is also reflected by the FFO, which show the operating earnings from property management. They have risen to EUR 1.4 million, after EUR 1.1 million during the corresponding prior-year period. The Net Asset Value (NAV) improved towards the end of the 1st quarter of 2021 to EUR 115.6 million, after EUR 101.4 million a year before.

During the current fiscal year 2021 FCR has already acquired a total of 9 properties and hence increased its standing portfolio to 87 properties. The annualised actual net rental income of the portfolio has currently increased to EUR 22.3 million. The figures document the successful focusing of FCR on the portfolio management of shopping centres and specialist retail centres. The anchor tenants are frequently grocery stores, drugstores or neighbourhood stores. Moreover, the use the company's own software based on artificial intelligence has tapped additional earnings potentials and increased the efficiency of the organisation.

With the figures of the 1st quarter of 2021 FCR is fully on track for the further business development and confirms the annual forecast for 2021. Properties with a value of around EUR 160 million are to be acquired during the current year. For the EBT, a rise to EUR 14 million and for the FFO an improvement to EUR 8 million are forecast.

Falk Raudies, Founder and CEO of FCR Immobilien AG: "I am very pleased with the start of the year. The market continues to offer lucrative investment opportunities that we intend to exploit. As a result of our good liquidity position, we are also able to acquire profitable properties for our standing portfolio at short notice."

About FCR Immobilien AG

FCR Immobilien AG is a dynamically growing portfolio manager and portfolio developer specialising in shopping centres and specialist retail centres in Germany. The company's focus is on properties at attractive secondary sites which offer above-average yield potentials due to their location. FCR also invests, whenever opportunities arise, in the asset classes office, residential and logistics. Apart from purchases at favourable conditions, the positive development of FCR Immobilien AG is based on the successful management of portfolio properties, supplemented by opportunistic sales of trading properties. The portfolio of FCR Immobilien AG currently includes a total of around 90 properties; the annualised annual net rent from the standing portfolio amounts to around EUR 20 million. The tenants include well-known brands such as EDEKA, Netto, ROSSMANN, OBI, REWE and NORMA. The FCR share (WKN A1YC91, ISIN DE000A1YC913) is quoted in the m:access of the Munich Stock Exchange and is listed in the General Standard of the Frankfurt Stock Exchange, and is traded, amongst others, on Xetra.


Website: fcr-immobilien.de
Twitter: @FCR_Immobilien
Facebook: facebook.com/fcrimmobilien

Press contact

edicto GmbH
Dr. Sönke Knop
Telephone +49 69 9055 05 51
Email: FCR-Immobilien@edicto.de

Company contact

Ulf Wallisch
Senior Director, Head of Operations Management
Telephone +49 89 413 2496 11
Email: u.wallisch@fcr-immobilien.de

FCR Immobilien AG
Kirchplatz 1
82049 Pullach im Isartal

CEO: Falk Raudies
Chairman of the Supervisory Board: Prof. Dr. Franz-Joseph Busse
HRB 210430 | Local Court Munich

18.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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