FRANKFURT (dpa-AFX) - The real estate group Dic Asset achieved its earnings targets last year. In day-to-day operations, the operating profit, measured by the Funds from Operations (FFO) indicator established in the real estate industry, rose by around seven percent to 114.2 million euros, the commercial real estate specialist announced in Frankfurt on Wednesday. Thus, the result was at the lower end of the issued range of 114 to 117 million euros. Assets under management reportedly rose to a record 14.7 billion euros. Dic Assets plans to pay its shareholders a dividend at the previous year's level of 0.75 euros per share.

In the coming year, the company expects a decline in earnings. Operating profit FFO is expected to be between 90 and 97 million euros. Dic Asset justified this with the more difficult conditions in the real estate investment market. In view of the change in the interest rate environment since 2022

interest rate environment since 2022 and the still unclear impact of a weaker

on real estate demand in Germany, the company expects delays in real estate investment

particularly in the first half of the year, the company expects delays in acquisitions and sales. In terms of dividend policy, Dic Asset intends to focus on continuity and continue to distribute at least 50 percent of FFO.

The SDax-listed share initially rose by 1.3 percent in after-hours trading on the Tradegate trading platform./nas/ck