Deutsche Konsum REIT-AG announced earnings results for the first half of 2018. For the period, the company reported rental income of the company increased by 53% from EUR 8.9 million to EUR 13.6 million compared to the same period of the previous year. Funds from operations (FFO) increased by 62%, from EUR 4.5 million to EUR 7.3 million, which was significantly higher than rental income. This shows the increasingly resulting economies of scale, which further strengthen the profitability of DKR. Due to ongoing value-adding construction and modernisation measures at the revitalisation properties in Greifswald, Hohenmolsen, Bitterfeld and Stralsund amounting to EUR 5.5 million (Capex), the aFFO (FFO after deducting the capitalised modernisation measures) in the first six months of fiscal 2018 was EUR 1.7 million against EUR 3.6 million a year ago.

Based on the positive first half of fiscal 2018 as well as the transfer of ownership of 19 properties in the second half of the year and the continued widespread acquisition pipeline, the management board confirms the forecast for the 2018 financial year, an FFO of between EUR 16 million and EUR 20 million and a FFO run rate of EUR 23 million as at 30 September 2018.