DGAP-News: Deutsche Konsum REIT-AG / Key word(s): Annual Results 
Deutsche Konsum REIT-AG successfully closes 2019/2020 financial year 
 
2020-12-17 / 07:10 
The issuer is solely responsible for the content of this announcement. 
 
*Press release* 
 
*Deutsche Konsum REIT-AG successfully closes 2019/2020 financial year * 
 
- Rental income up 34% to EUR 56.2 million 
- FFO rises by 40% to EUR 35.0 million and thus in line with the forecast 
- FFO run rate of EUR 40.0 million as of 30 September 2020 also as forecast 
- Real estate portfolio grew to EUR 810 million 
- EPRA NAV increased by 12% to EUR 11.11 per share 
- Net LTV at 51.7% 
- Dividend proposal rises to EUR 0.40 per share after EUR 0.35 per share in 
the previous year 
- FFO forecast of EUR 42 million to EUR 45 million for financial year 
2020/2021 
- FFO run rate of EUR 47 million to EUR 51 million expected at the end of 
the 2020/2021 financial year 
- Sustainability report published for the first time 
 
Broderstorf, 17 December 2020 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) 
has grown strongly and profitably in the 2019/2020 financial year - despite 
the impact of the COVID 19 pandemic. 
 
*FFO increase stronger than rental income* 
The Company's rental income increased by 34% from EUR 42.0 million to EUR 
56.2 million in the financial year 2019/2020 compared to the previous year, 
mainly as a result of the expansion of the property portfolio. 
 
Funds from operations ("FFO") also rose by a much stronger 40% from EUR 25.0 
million to EUR 35.0 million, fully achieving the guidance given in the 
previous year (EUR 34.0 million to EUR 36.0 million) and confirming DKR's 
continued profitable growth. aFFO (FFO after deduction of capitalised 
modernisation measures) was slightly below the previous year's level at 
around EUR 19.9 million (2018/2019: EUR 20.5 million) due to extensive and 
value-creating investments in the revitalisation of properties from current 
cash flow. 
 
The property portfolio existing as of 30 September 2020, including the 
notarised properties, also results in a run rate of FFO of EUR 40.0 million, 
which is also within the guidance range (EUR 40.0 million to EUR 42.0 
million). 
 
*Real estate portfolio increased to EUR 810 million as of the balance sheet 
date* 
As at 30 September 2020, the real estate portfolio comprises 161 retail 
properties with a balance sheet value of EUR 809.9 million, which have 
already been transferred to DKR (30 September 2019: EUR 619.9 million). The 
annualised annual rent of the portfolio amounts to approximately EUR 63.1 
million as at 30 September 2020 (30 September 2019: EUR 48.6 million). 
 
Thus, the total portfolio increased by 39 retail properties with an 
investment volume of around EUR 158 million and an annualised rent of EUR 
14.8 million in the past financial year. This was offset by the disposal of 
a food discounter in Berlin-Tegel, which was sold at a significant capital 
gain. 
 
The acquisition yield of the overall portfolio is currently around 10.5%. 
 
*EPRA NAV increases to EUR 11.11 per share / Net LTV is 51.7%* 
The EPRA NAV increased to EUR 11.11 per share as of 30 September 2020 (30 
September 2019: EUR 9.93 per share) due to the positive annual result and 
the cash capital increase carried out in May 2020, and thus rose 
significantly by EUR 1.18 per share or around 12% year-on-year despite a 
lower valuation result from the property valuation. 
 
The net LTV at the end of the financial year was 51.7%, which is within the 
target corridor of around 50%. 
 
*Dividend proposal of EUR 0.40 per share* 
In view of the current lockdown measures to combat the ongoing COVID 19 
pandemic, which have been sharply tightened by the German government, and 
the unforeseeable timeframe of this situation, the Management Board, after 
consultation with the Supervisory Board, has decided at short notice for 
reasons of prudence to proceed in a liquidity-preserving manner despite the 
full achievement of the FFO guidance. As a result, the dividend proposal was 
increased to EUR 0.40 per share compared to the previous year (previous 
year: EUR 0.35 per share), but is lower than the original dividend forecast 
of EUR 0.55 per share. 
 
*FFO forecast for the 2020/2021 financial year between EUR 42 million and 
EUR 45 million. * 
For the current financial year underway, the Management Board expects FFO of 
between EUR 42 million and EUR 45 million, assuming a gradually normalising 
overall situation. The FFO run rate (annualised FFO excluding accrual 
effects) is expected to be between EUR 47 million and EUR 51 million at the 
end of the current financial year 2020/2021. 
 
*Acquisitions so far at over EUR 14 million in the current financial year / 
Sale of another food market in Berlin* 
In the course of the new financial year so far since October 2020, DKR has 
already acquired five new food-anchored retail properties for around EUR 
14.3 million with individual transactions, generating a total annual rent of 
EUR 1.3 million. 
 
In addition, the Company is in the process of acquiring further retail 
properties, which is expected to take place by the end of the year. 
 
Furthermore, DKR sold another food market from its portfolio in 
Berlin-Pankow by notarised contract this week for approximately 22 times the 
annual rent and thus twice the book value. The transfer of benefits and 
encumbrances is expected to take place in February 2021. 
 
Including the transfers of benefits and encumbrances of three further 
properties purchased after the balance sheet date and the notarised 
purchases and sales mentioned above, the pro forma real estate portfolio 
currently comprises 169 properties with an annual rent of around EUR 66.5 
million and a balance sheet value of around EUR 850 million. 
 
*DKR publishes sustainability report* 
As of today, DKR is publishing a sustainability report for the first time. 
DKR is thus expressly committed to sustainable corporate management, which 
is becoming an increasingly relevant component of responsible management in 
view of the Company's strong growth and thus corresponds to the sustainable 
and long-term business model. The sustainability report takes a firm stand 
on environmental, social and governance issues within a meaningful framework 
and provides an outlook on which sustainable projects will be pursued in the 
future. The report is available for download at 
https://www.deutsche-konsum.de/en/sustainability/ [1]. 
 
Rolf Elgeti, CEO of Deutsche Konsum REIT-AG: "The results of the past 
financial year impressively underline the stability and cash flow strength 
of our business model, even in the current difficult overall environment, 
which is due to the high proportion of non-cyclical and system-relevant 
tenants in our portfolio and the high investment discipline of our team. 
Therefore, we will continue our expansion as usual and also further develop 
the existing portfolio, which will lead to further sustainable cash flow and 
value increases." 
 
*Conference call* 
Deutsche Konsum REIT-AG will hold an annual press conference (conference 
call) on the annual results of the 2019/2020 financial year tomorrow, 18 
December 2020 , at 9:00 am. The presentation on the annual results of the 
2019/2020 financial year and further information on the conference call can 
be found at https://www.deutsche-konsum.de/en/investor-relations/ [2]. The 
2019/2020 annual report is available for download at 
https://www.deutsche-konsum.de/en/investor-relations/financial-reports/ [3]. 
 
*About Deutsche Konsum* 
Deutsche Konsum REIT-AG based in Broderstorf is a listed real estate company 
focusing on retail properties in Germany for goods required for daily use in 
established micro-locations. The focus of the Company's activities is on the 
management and development of real estate with the aim of achieving a steady 
increase in value and the realisation of hidden reserves. DKR's total 
portfolio currently comprises 169 retail properties with an annualised rent 
of EUR 66 million. 
 
Due to its REIT status ('Real Estate Investment Trust'), the Company is 
exempt from corporation and trade tax. The shares of the Company are listed 
on the Prime Standard of the Deutsche Boerse (ISIN: DE 000A14KRD3). 
 
*Contact:* 
Deutsche Konsum REIT-AG 
Stefanie Frey 
Investor Relations 
E-Mail: sf@deutsche-konsum.de 
Phone: +49 (0) 331 74 00 76 - 533 
 
2020-12-17 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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Archive at www.dgap.de 
Language:    English 
Company:     Deutsche Konsum REIT-AG 
             August-Bebel-Str. 68 
             14482 Potsdam 
             Germany 
Phone:       +49 (0)331 740076517 
Fax:         +49 (0)331 740076520 
E-mail:      ch@deutsche-konsum.de 
Internet:    www.deutsche-konsum.de 
ISIN:        DE000A14KRD3 
WKN:         A14KRD 
Listed:      Regulated Market in Berlin, Frankfurt (Prime Standard); 
             Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, 
             Stuttgart, Tradegate Exchange 
EQS News ID: 1155870 
 
End of News DGAP News Service 
 
1155870 2020-12-17 
 
 
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(END) Dow Jones Newswires

December 17, 2020 01:10 ET (06:10 GMT)