DUISBURG (dpa-AFX) - The commercial real estate specialist Hamborner Reit has earned slightly more in the first quarter thanks to increased rental income. Funds from operations (FFO), an important operating indicator in the real estate sector, rose by 2.6 percent year-on-year to EUR 14 million in the first three months, as the company, which is listed in the second-line stock index SDax, announced in Duisburg on Tuesday. Income from rents and leases rose by 3.1 percent to EUR 23.4 million. The company benefited from contractually agreed rent adjustments as a result of inflation. The bottom line was a profit of 4.7 million euros, compared to 4.5 million euros in the previous year.

The Group confirmed its forecasts for 2024. Accordingly, the company, which focuses on offices and retail, is targeting an operating result (FFO) of EUR 49 million to EUR 50.5 million for the current year. Even in the best-case scenario, this would be less than in the past two years. However, income from rents and leases is likely to increase compared to 2023 and reach 91.0 to 92.5 million euros./mne/mis