Deutsche Wohnen FY16 FFO I Climbs, Lifts Dividend; Sees Higher Results In FY17

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( - German real estate firm Deutsche Wohnen AG (DWHHF.PK) reported Tuesday that its fiscal 2016 Funds from Operations or FFO I increased 26% to 383.9 million euros from last year's 304.0 million euros, due to portfolio acquisitions, significantly reduced financing costs and organic growth. FFO I per share rose 20 % to 1.14 euros.

FFO II, including disposals, increased to 438.2 million euros from 372.9 million euros a year ago. FFO II per share grew around 12% to 1.30 euros.

At 1.6 billion euros, group profit was approximately 35% higher than in the previous year.

Rental income grew to 704.5 million euros from previous year's 634.0 million euros, with an operating result of 545.7 million euros.

Further, the company announced that subject to approval by the Annual General Meeting, the dividend for the financial year 2016 will be 0.74 euros per share, which marks a significant increase of 37% in comparison to the previous year.

Looking ahead, for the financial year 2017, the company anticipates an increase in FFO I to approximately EUR 425 million, whereby the LTV ratio is intended to remain unchanged in the target range of 35% to 40%.

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This article appears in: Earnings , Fundamental Analysis , Stocks , World Markets , Stocks
Referenced Symbols: DWHHF , DWNI

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