FCR Immobilien AG with substantial increase in earnings during the 1^st half-year 2021, FFO rises by 67 %

- FFO climbs by 67 % to EUR 3.7 million

- EBT improved by 53 % to EUR 6.7 million, EPRA-NAV per share increased to EUR 11.93

- Focusing on portfolio management and successful asset management as drivers

- Confirmation of the forecast for the full year with an EBT of EUR 14.0 million and FFO of EUR 8.0 million
 

Pullach im Isartal, 04.08.2021: FCR Immobilien AG ("FCR", ISIN DE000A1YC913) has achieved a significant increase in earnings, based on IFRS figures, during the 1^st half-year 2021. The Funds from Operations (FFO) rose by 67 % to EUR 3.7 million, after EUR 2.2 million during the prior year period. Earnings before taxes (EBT) improved by 53 % to EUR 6.7 million, after EUR 4.4 million during the first half-year 2020. The increase in earnings is an expression of the very encouraging development of the standing portfolio. As a result of the active asset management, the occupancy rate was further improved to 91.6 % after 90.3 % at the end of 2020. The weighted average unexpired lease term (WAULT) rose to 5.3 years after previously 5.1 years at the end of 2020. With these figures FCR has laid an excellent foundation for its further business development and hence confirms the forecast for the full year. This is based on the assumption of an FFO of EUR 8.0 million and earnings before taxes (EBT) of EUR 14.0 million.

FCR has already acquired 12 properties during the 1^st half-year 2021. For 10 properties the transfer of benefits and encumbrances will only take place at the beginning of the 2^nd half-year. Consequently, further growth is already secured. Together with the acquired properties, FCR has at the end of the 1^st half-year a standing portfolio of EUR 352 million for 95 properties. 90 properties are part of the core of portfolio management. The other five properties in the trading and development portfolio will be gradually sold.

The positive development of the standing portfolio is already reflected by the EPRA Net Asset Value (NAV). The latter rose to EUR 116.5 million after EUR 101.0 million a year ago. This corresponds to EUR 11.93 per share. In this connection it has to be taken into account that during the 2^nd quarter 2021 a dividend of EUR 0.30 per share was paid.

The focus of portfolio management continues to lie on retail properties. This segment accounted during the 1^st half-year for around 83 % of the rental income. Here, FCR can continue to acquire attractive properties at secondary locations with initial yields between 8 and 12 %. Combined with low costs of an efficient corporate structure through the use of a comprehensive proprietary AI software solution, FCR can achieve above-average yields. The software offers particularly extensive possibilities to compare offers and services, so that a significant savings potential can be leveraged on the basis of an optimum cost control. Moreover, the software provides marketing opportunities for the rental spaces, so that in the meantime the FCR solution has caught the attention of other real property companies. Consequently, FCR continues to invest in the further development of the technology. This opens up an additional future earnings potential for FCR.

Falk Raudies, Founder and CEO of FCR Immobilien AG: "I am very pleased with the business development during the 1^st half-year 2021. We have significantly increased our result and acquired already 12 properties. During the coming months we intend to continue our acquisitions. At present properties with a value of around EUR 50 million are in direct acquisition."

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 95 properties; the annualised annual net rent from the standing portfolio amounts to around EUR 23 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
D-82049 Pullach im Isartal
www.fcr-immobilien.de
 

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