(Repetition)
Dow Jones-Day Real Estate significantly exceeded the forecast with its sales business in Poland and at the operating indicators that were important in the real estate wasteland. On the basis of preliminary and uncheck results, the adjusted sales result in Poland achieved EUR 66.2 million, as the Hamburg residential property group listed in the MDAX announced. Although that was a decline of 82.8 million euros in the previous year, it was well above the corporate forecast of 46 to 52 million euros. This is particularly due to higher sales prices and the result of better raw profit margins of the handed over apartments than expected. In addition, the result of sales of undeveloped land and interest income from loans to joint ventures and short -term investments benefited.
The operational profit FFO II also decreased in the year, but exceeded the forecast break of 217 to 223 million euros with 239.4 million euros. In 2023, Tag Immobilien had achieved an FFO II of 255.6 million euros.
The strong operational performance of both the German and the Polish rental portfolio led to a rental result FFO I of 175.1 million euros, which also exceeded the forecast range of 170 to 174 million euros. In the German portfolio, the vacancy was reduced to 3.6 percent at the end of the year after 4.0 percent at the beginning of the year, rental growth on a comparable basis (Like-for-like) rose to 3.0 percent per year after 2.3 percent in the previous year .
The bottom line was that there was a group profit of 122.1 million euros. In 2023, the group had booked a loss of 410.9 million euros
The final and tested results will be announced as planned with the annual report 2024 on March 25th.
Contact with the author: [email protected]
DJG/SHA/CLN
(End) Dow Jones Newswires
February 25, 2025 14:38 ET (19:38 GMT)
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