Quarterly Report • Nov 16, 2016
Quarterly Report
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| EUR k | Jan. 1 – Sept. 30, 2016 |
Jan. 1 – Sept. 30, 2015 |
Change (%) |
|---|---|---|---|
| Revenues and Earnings | |||
| Revenues | 155,360 | 72,758 | 113.5 |
| Net rental income | 137,178 | 65,029 | 110.9 |
| Consolidated profit for the period1) | 78,137 | 24,074 | 224.6 |
| FFO | 91,210 | 36,894 | 147.2 |
| Earnings per share (EUR)1) | 0.51 | 0.28 | 82.1 |
| FFO per share (EUR)1) | 0.57 | 0.42 | 35.7 |
| EUR k | Sept. 30, 2016 | Dec. 31, 2015 | Change (%) |
| Balance Sheet | |||
| Investment property | 2,917,693 | 3,260,467 | –10.5 |
| Total assets | 3,586,254 | 3,850,580 | –6.9 |
| Equity1) | 1,633,924 | 1,619,377 | 0.9 |
| Liabilities | 1,886,472 | 2,192,916 | –14.0 |
| Net asset value (NAV) per share (EUR) | 10.66 | 10.64 | 0.2 |
| Diluted NAV per share (EUR)2) | 10.71 | 10.68 | 0.3 |
| Net LTV (%)3) | 43.9 | 49.3 | –5.4 pp |
1) Without minorities.
2) Dilution based on potential conversion of convertible bond.
3) Takes into account receivables from the disposal of the asset 'An den Treptowers'.
| Sept. 30, 2016 | Dec. 31, 2015 | Change (%) |
|---|---|---|
| 55.4 | 49.4 | 6.0 pp |
| 100 | 100 | 0.0 pp |
| Jan. 1 – Sept. 30, 2016 |
Jan. 1 – Sept. 30, 2015 |
Change (%) |
| 0.44 | 0.31 | 41.9 |
| 21.2 | 25.5 | –4.3 pp |
| 17.1 | 21.3 | –4.2 pp |
| Sept. 30, 2016 | Dec. 31, 2015 | Change (%) |
|
|---|---|---|---|
| EPRA NAV per share (EUR) | 10.95 | 10.91 | 0.4 |
| EPRA NNNAV per share (EUR) | 10.67 | 10.66 | 0.1 |
| EPRA net initial yield (%) | 5.1 | 5.0 | 0.1 pp |
| EPRA 'topped-up' net initial yield (%) | 5.5 | 5.3 | 0.2 pp |
| EPRA vacancy rate (%) | 9.9 | 11.2 | –1.3 pp |
1) For further information, please refer to EPRA Best Practices Recommendations, www.epra.com.
2) Including vacancy costs.
3) Excluding vacancy costs.
| Key Metrics | Sept. 30, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Number of properties | 114 | 120 |
| Number of joint venture properties | 1 | 1 |
| Market value (EUR bn)1) | 3.0 | 3.3 |
| Annual contractual rent (EUR m) | 197.2 | 208.3 |
| Valuation yield (contractual rent/market value) |
6.5 | 6.3 |
| Lettable area (sqm) | 1,604,600 | 1,724,100 |
| Vacancy (% of lettable area)2) | 10.8 | 11.8 |
| WAULT (years) | 4.9 | 5.2 |
| Average rent/sqm (EUR/month) | 11.5 | 11.5 |
1) Incl. fair value of owner-occupied properties.
2) Contractual vacancy rate includes vacancies in assets of the Company's development pipeline and excludes assets held for sale.
| Letting metrics | Jan. 1 – Sept. 30, 2016 |
Jan. 1 – Sept. 30, 2015 |
Change (in sqm) |
|---|---|---|---|
| New leases (in sqm)1) | 66,100 | 28,800 | 37,300 |
| Renewals of leases (in sqm) | 78,500 | 25,000 | 53,500 |
| Total | 144,600 | 53,800 | 90,800 |
1) New leases refer to letting vacant space. They do not account for any lease renewals, prolongations or a tenant's exercise of its renewal option.
A substantial impact on the positive development of the new leases in the first three quarters of 2016 had a new lease with the City of Berlin for around 17,600 sqm of office and ancillary space in Darwinstraße 14-18 in Berlin .The lease is expected to start on February 1, 2017, has a lease term of ten years and will generate an annual rent of EUR 2,761 k. With the signature of the new lease, the building is fully let.
Furthermore, alstria signed two new leases in Frankfurt, Platz der Einheit 1 (KASTOR TOWER). The first lease for approximately 5,600 sqm of office and ancillary space started on June 15, 2016. The other lease that was contracted for this asset, totalling approximately 3,500 sqm of office and ancillary space, will start by the end of the first quarter of 2017. The contracted leases reduced the vacancy in the 30,600 sqm building from 71% to 40%.
alstria performed the following transactions in 2016:
| Asset | City | Sales price (EUR k)1) |
Annual rent (EUR k)2) |
Ø Lease length (years)2) |
Signing SPA |
Transfer of benefits and burdens |
|---|---|---|---|---|---|---|
| Disposals | ||||||
| Landshuter Allee 174 | Munich | 14,000 | 55 | 0.2 | 11.06.15 | 30.06.16 |
| Dieselstraße 18 | Ditzingen | 13,395 | 888 | 19.8 | 31.08.15 | 25.06.16 |
| Hofmannstraße 51 | Munich | 44,387 | 1,222 | 2.0 | 05.11.15 | 30.06.16 |
| Wandsbeker Chaussee 220 | Hamburg | 5,920 | 78 | 2.7 | 19.05.16 | 30.06.16 |
| Taunusstraße 34–363) | Munich | 26,830 | 1,774 | 5.4 | 27.06.16 | 31.08.16 |
| An den Treptowers 33),4) | Berlin | 228,431 | 13,996 | 2.7 | 08.07.16 | 30.09.16 |
| Ludwig-Erhard-Straße 49 | Leipzig | 9,450 | 832 | 1.5 | 03.08.16 | 30.09.16 |
| Gutenbergstraße 13),5) | Ismaning | 14,100 | 1,053 | 6.7 | 13.09.16 | 31.12.166) |
| Oskar-Messter-Straße 22-243),5) | Ismaning | 18,400 | 1,304 | 3.7 | 13.09.16 | 31.12.166) |
| Bahnhofstraße 1–53),5) | Heilbronn | 33,650 | 2,161 | 5.1 | 28.09.16 | 30.11.166) |
| Feldstraße 163),5) | Weiterstadt | 7,350 | 442 | 2.1 | 30.09.16 | 31.12.166) |
| Nägelsbachstraße 26/ Nürnberger Straße 413),5) |
Erlangen | 11,200 | 1,377 | 2.3 | 11.10.16 | 31.12.166) |
| Lina-Ammon-Straße 193),5) | Nürnberg | 15,100 | 1,075 | 4.0 | 11.10.16 | 31.12.166) |
| Richard-Wagner-Platz 13),5) | Nürnberg | 17,000 | 998 | 3.6 | 11.10.16 | 31.12.166) |
| Max-Eyth-Straße 25) | Dortmund | 4,200 | 4 | 1.0 | 14.10.16 | 31.12.166) |
| Total disposals | 463,413 | 27,259 | ||||
| Acquisitions | ||||||
| Gasstraße 18 | Hamburg | 38,000 | 2,336 | 3.2 | 26.11.15 | 01.01.16 |
| Tempelhofer Damm 146 | Berlin | 8,350 | 526 | 7.8 | 25.08.16 | 01.11.166) |
| Total acquisitions | 46,350 | 2,862 |
1) Excluding transaction costs.
2) At the time of transfer of benefits and burdens.
3) From the Deutsche Office portfolio.
4) Share deal.
5) Balance sheet as reported under assets held for sale.
6) Expected.
Rental revenues amounted to EUR 155.4 m in the first three quarters of 2016 and thus increased by EUR 82.6 m compared to the revenues in the first three quarters of the previous year (EUR 72.8 m). EUR 80.5 m of this are alloted to Deutsche Office which was consolidated for the first time on October 27, 2015. The revenues of the alstria subgroup increased by around EUR 2.1 m or 2.9% mainly due to the acquisition of two assets in the second half of 2015 and the lease of vacant space.
As a result, net rental income of the whole alstria group increased by EUR 72.1 m to EUR 137.2 m.
The consolidated net result amounted to EUR 82.8 m (of which EUR 4.7 m is attributable to minorities) in the reporting period and was higher than the consolidated net result of the first three quarters of 2015 (EUR 24.1 m). The result of Deutsche Office as well as the positive net result from the disposal of properties contributed substantially to the increase of the consolidated net result of the Group.
Funds from operations amounted to EUR 91.2 m (of which EUR 4.2 m is attributable to minorities) and were thus EUR 54.3 m higher than funds from operations in the previous year's reporting period (EUR 36.9 m). The main reason for the increase in FFO is, in addition to the inclusion of the FFO from Deutsche Office, the reduced financing costs as well as synergy effects in administration and personnel expenses.
| EUR k | Jan. 1 – Sept. 30, 2016 |
Jan. 1 – Sept. 30, 2015 |
|---|---|---|
| Pre-tax income (EBT) | 86,762 | 24,086 |
| Net profit/loss from fair value adjustments on financial derivatives |
13,333 | 7,719 |
| Profit/loss from the disposal of investment property |
–25,481 | –5,593 |
| Fair value and other adjustments in joint venture |
0 | 600 |
| Net profit/loss from fair value adjustments on investment property |
0 | –120 |
| Other adjustments1) | 16,596 | 10,202 |
| Funds from operations (FFO)2) | 91,210 | 36,894 |
| Attributable to minority shareholders | –4,198 | – |
| Attributable to alstria office REIT-AG shareholders |
87,012 | 36,894 |
| Maintenance and reletting | –16,891 | –10,081 |
| Adjusted funds from operations (AFFO)3) | 70,121 | 26,813 |
| Number of shares (k) | 153,231 | 87,097 |
| FFO per share (EUR k)4) | 0.57 | 0.42 |
1) Non-cash income or expenses and non-recurring effects.
2) (A)FFO is not a measure of operating performance or liquidity under generally accepted accounting principles, in particular IFRS, and should not be considered as an alternative to the Company's income or cash flow measures as determined in accordance with IFRS. Furthermore, there is no standard definition for (A)FFO. Thus, the (A)FFO or measures with similar names as presented by other companies may not necessarily be comparable to alstria's (A)FFO.
3) The AFFO is equal to the FFO with adjustments made for capital expenditures used to maintain the quality of the underlying investment portfolio and expenses for lease-ups.
4) Without minorities.
The total value of investment properties amounted to EUR 2.9 bn as of September 30, 2016, in comparison to EUR 3.3 bn as of December 31, 2015.
| Investment properties as of December 31, 2015 | 3,260,467 |
|---|---|
| Investments | 23,200 |
| Acquisitions | 0 |
| Disposals | –247,900 |
| Reclassifications | –118,074 |
| Net loss/gain from fair value adjustments on investment property |
0 |
| Investment properties as of September 30, 2016 | 2,917,693 |
| Carrying amount of owner occupied properties | 5,995 |
| Fair value of properties held for sale | 120,975 |
| Interests in joint ventures | 25,246 |
| Carrying amount of immovable assets | 3,069,910 |
| Adjustments to fair value of owner occupied properties | 1,202 |
| Fair value of immovable assets | 3,071,112 |
For a detailed description of the investment properties, please refer to the Company Report 2015.
As of September 30, 2016 alstria had cash and cash equivalents in the amount of EUR 231.6 m (December 31, 2015: EUR 460.3 m).
Total equity increased to EUR 1,699.8 m as of September 30, 2016 (December 31, 2015: EUR 1,657.7 m), containing a share of EUR 65.9 m that is attributable to minority shareholders of Deutsche Office (December 31, 2015: EUR 38.3 m).
As of September 30, 2016, the loan facilities in place are as follows:
| Liabilities | Maturity | Principal amount drawn as of Sept. 30, 2016 EUR k |
LTV as of Sept. 30, 2016 % |
LTV covenant % |
Principal amount drawn as of Dec. 31, 2015 EUR k |
|---|---|---|---|---|---|
| Syndicated loan #1 | Sept. 30, 2020 | 311,612 | 43.8 | 70.0 | 470,556 |
| Syndicated loan #21) | Feb. 22, 2016 | 0 | – | – | 331,910 |
| Syndicated loan #32) | Sept. 30, 2018 | 0 | – | – | 336,320 |
| Loan #13) | June 28, 2024 | 67,000 | 45.2 | 65.0 | 67,000 |
| Loan #2 | April 30, 2021 | 59,126 | 49.8 | 65.0 | 60,048 |
| Loan #3 | Mar. 28, 2024 | 56,500 | 50.2 | 75.0 | 56,500 |
| Loan #43) | June 30, 2026 | 56,000 | 45.9 | 65.0 | 56,000 |
| Loan #5 | July 31, 2021 | 15,306 | 51.8 | 60.0 | 15,423 |
| Loan #64) | June 30, 2017 | 0 | – | – | 58,868 |
| Loan #74) | Dec. 31, 2018 | 0 | – | – | 53,432 |
| Loan #85) | Dec. 30, 2017 | 0 | – | – | 18,507 |
| Total loans | 565,544 | 45.5 | – | 1,524,564 | |
| Bond #1 | Mar. 24, 2021 | 500,000 | – | – | 500,000 |
| Bond #2 | Apr. 12, 2023 | 500,000 | – | – | – |
| Convertible bond | June 14, 2018 | 79,200 | 79,200 | ||
| Schuldschein 10y/fix | May 06, 2026 | 40,000 | – | ||
| Schuldschein 7y/fix | May 08, 2023 | 37,000 | – | ||
| Schuldschein 4y/fix | May 06, 2020 | 38,000 | – | ||
| Schuldschein 7y/variable | May 08, 2023 | 17,500 | – | ||
| Schuldschein 4y/variable | May 06, 2020 | 17,500 | – | ||
| Total | 1,794,744 | 59.5 | – | 2,103,764 | |
| Net LTV6) | 43.9 |
1) Loan agreement terminated as of February 22, 2016.
2) Loan agreement terminated; withdrawal occurred on May 31, 2016.
3) Refinanced in Q2 2016.
4) Loan agreement terminated; withdrawal occurred on June 30, 2016.
5) Loan agreement terminated, taking effect on June 30, 2016; withdrawal of EUR 94 k did not occur before July 04, 2016.
6) Takes into account receivables from the disposal of the asset 'An den Treptowers'.
In case of the incurrence of new Financial Indebtedness that is not drawn for the purpose of refinancing existing liabilities, alstria needs to comply with the following covenants:
Following the issuance of the first bond on November 24, 2015, up to the reporting date, alstria incurred two further Financial Indebtedness to refinance existing Secured Financial Indebtedness. Additionally, alstria had prolonged two existing loans prior to maturity in the second quarter of 2016 (for further information, please see section 3, "Loans").
Furthermore, starting from the fifth reporting date following the issuance of the bonds, alstria needs to maintain a ratio of the Consolidated Adjusted EBITDA over Net Cash Interest of not less than 1.80 to 1.00. The initial calculation and publication of the ratio will be done together with the 2016 annual report.
As of June 30, 2016, no covenants under the loan agreements and/ or the terms and conditions of the bonds / the Schuldschein have been breached.
* The following section refers to the Terms and Conditions of the bonds issued on November 24, 2015, and April 12, 2016, and the Terms and Conditions of the Schuldschein issued on May 06, 2016 (for further information, please refer to www.alstria.com). Capitalized terms have the meaning as defined in the Terms and Conditions.
At the Annual General Meeting of alstria's subsidiary DO Deutsche Office AG held on July 12, 2016, the shareholders of the Company decided to change its legal form from a public limited company (AG) to a limited partnership (KG) as well as to change the company name. According to the shareholders' resolution, DO Deutsche Office AG is to be converted into alstria office Prime Portfolio GmbH & Co. KG. Furthermore, the resolution comprised the relocation of the company's registered office to Hamburg.
Please refer to the table on page 4 for more details regarding the transactions that took place in the first three quarters of financial year 2016 and the dates for the transfers of benefits and burdens that are expected until the end of 2016.
The first three quarters of financial year 2016 proceeded as expected. The statements and forecasts presented in the Group management report of 2015 concerning the expected development of the Group for financial year 2016 are still valid. Based on the recent transactions and the contractual rents, alstria still expects revenues in the amount of EUR 200 m and an FFO of EUR 115 m for fiscal year 2016.
The Group is exposed through its business to various risks. For further details, please refer to the Annual Report 2015.
The overall risk situation of alstria has not changed.
The management report contains statements relating to anticipated future developments. These statements are based on current assessments and are, by their very nature, exposed to risks and uncertainty. Actual developments may differ from those predicted in these statements.
| EUR k | July 1 – Sept. 30, 2016 |
July 1 – Sept. 30, 2015 |
Jan. 1 – Sept. 30, 2016 |
Jan. 1 – Sept. 30, 2015 |
|---|---|---|---|---|
| Revenues | 53,245 | 24,434 | 155,360 | 72,758 |
| Income less expenses from passed on | ||||
| operating expenses | 273 | 226 | –73 | 208 |
| Real estate operating costs | –6,211 | –2,949 | –18,109 | –7,937 |
| Net Rental Income | 47,307 | 21,711 | 137,178 | 65,029 |
| Administrative expenses | –2,118 | –1,311 | –7,689 | –4,279 |
| Personnel expenses | –2,756 | –1,706 | –9,381 | –7,631 |
| Other operating income | 611 | 981 | 2,931 | 2,647 |
| Other operating expenses | –4,690 | –4,076 | –11,820 | –7,931 |
| Net gain/loss from fair value adjustments on investment property |
0 | 0 | 0 | 120 |
| Gain/loss from disposal of investment property |
2,508 | 3,919 | 25,481 | 5,593 |
| Net Operating Result | 40,862 | 19,518 | 136,700 | 53,548 |
| Net financial result | –10,402 | –5,990 | –37,951 | –22,088 |
| Share of the result of joint venture | 367 | 390 | 1,346 | 345 |
| Net loss from fair value adjustments on financial derivatives |
–540 | –4,900 | –13,333 | –7,719 |
| Pre-Tax Income (EBT) | 30,287 | 9,018 | 86,762 | 24,086 |
| Income tax expense | –3,912 | –5 | –3,932 | –12 |
| Consolidated Profit for the period | 26,375 | 9,013 | 82,830 | 24,074 |
| Attributable to: | ||||
| Owners of the company | 25,313 | 9,013 | 78,137 | 24,074 |
| Noncontrolling interest | 1,062 | 0 | 4,693 | 0 |
| Earnings per share in EUR | ||||
| based on the profit attributable to alstria's shareholders |
||||
| Basic earnings per share | 0.17 | 0.10 | 0.51 | 0.28 |
| Diluted earnings per share | 0.17 | 0.10 | 0.49 | 0.28 |
| EUR k | July 1 – Sept. 30, 2016 |
July 1 – Sept. 30, 2015 |
Jan. 1 – Sept. 30, 2016 |
Jan. 1 – Sept. 30, 2015 |
|---|---|---|---|---|
| Consolidated loss/profit for the period | 26,375 | 9,013 | 82,830 | 24,074 |
| Items which might be reclassified to the income statement in a future period: |
||||
| Reclassification from Cashflow Hedging Reserve |
249 | 817 | 270 | 2,565 |
| Other comprehensive result for the period: | 249 | 817 | 270 | 2,565 |
| Total comprehensive result for the period: | 26,624 | 9,830 | 83,100 | 26,639 |
| Total comprehensive profit/loss attributable to: |
||||
| Owners of the company | 25,562 | 9,830 | 78,407 | 26,639 |
| Noncontrolling interest | 1,062 | 0 | 4,693 | 0 |
as at September 30, 2016
| EUR k | Sept. 30, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Non-Current Assets | ||
| Investment property | 2,917,693 | 3,260,467 |
| Equity-accounted investments | 25,246 | 23,900 |
| Property, plant and equipment | 6,816 | 5,161 |
| Intangible assets | 413 | 607 |
| Financial assets | 34,803 | 0 |
| Derivatives | 1,301 | 8,462 |
| Total Non-Current Assets | 2,986,272 | 3,298,597 |
| Current Assets | ||
| Trade receivables | 9,137 | 12,578 |
| Tax receivables | 31 | 226 |
| Other receivables | 238,181 | 9,783 |
| Cash and cash equivalents | 231,633 | 460,253 |
| thereof restricted | 0 | 32,036 |
| Assets held for sale | 121,000 | 69,143 |
| thereof investment properties | 120,975 | 69,143 |
| thereof other assets | 25 | 0 |
| Total Current Assets | 599,982 | 551,983 |
| Total Assets | 3,586,254 | 3,850,580 |
| EUR k | Sept. 30, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Equity | ||
| Share capital | 153,231 | 152,164 |
| Capital surplus | 1,434,550 | 1,499,477 |
| Hedging reserve | 0 | -270 |
| Retained earnings | 46,143 | -31,994 |
| Equity attributable to the owners of the company |
1,633,924 | 1,619,377 |
| Noncontrolling interests | 65,858 | 38,287 |
| Total Equity | 1,699,782 | 1,657,664 |
| Non-Current Liabilities | ||
| Long-term loans, net of current portion | 1,774,635 | 1,715,590 |
| Derivatives | 24,443 | 23,208 |
| Other provisions | 2,530 | 3,221 |
| Other liabilities | 1,544 | 1,854 |
| Deferred taxes | 4,063 | 132 |
| Total Non-Current Liabilities | 1,807,215 | 1,744,005 |
| Current Liabilities | ||
| Short-term loans | 13,289 | 376,402 |
| Trade payables | 8,459 | 20,477 |
| Profit participation rights | 421 | 362 |
| Liabilities of current tax | 8,677 | 8,687 |
| Other provisions | 2,093 | 1,794 |
| Other current liabilities | 46,318 | 41,189 |
| Total Current Liabilities | 79,257 | 448,911 |
| Total Liabilities | 1,886,472 | 2,192,916 |
| Total Equity and Liabilities | 3,586,254 | 3,850,580 |
| EUR k | Jan. 1 – Sept. 30, 2016 |
Jan. 1 – Sept. 30, 2015 |
|---|---|---|
| 1. Operating activities | ||
| Consolidated profit/loss for the period Unrealized valuation movements |
82,830 11,987 |
24,074 7,597 |
| Interest income | –351 | –54 |
| Interest expense | 38,301 | 22,142 |
| Result from income taxes | 3,932 | 12 |
| Other non-cash expenses (+) | 2,031 | 382 |
| Gain (–)/loss (+) on disposal of investment properties |
–25,481 | –5,593 |
| Depreciation and impairment of fixed assets (+) | 503 | 295 |
| Decrease (+)/increase (–) in trade receivables and other assets that are not attributed to investing or financing activities |
–88 | –1,764 |
| Decrease (–)/increase (+) in trade payables and other liabilities that are not attributed to investing or financing activities |
–442 | –131 |
| Cash generated from operations | 113,222 | 46,960 |
| Interest received | 52 | 54 |
| Interest paid | –30,324 | –21,285 |
| Income tax paid | –11 | –12 |
| Net cash generated from operating activities | 82,939 | 25,717 |
| 2. Investing activities | ||
| Acquisition of investment properties | –25,305 | –30,217 |
| Proceeds from sale of investment properties | 117,025 | 2,044 |
| Payment of transaction cost in relation to the sale of investment properties |
–2,765 | 0 |
| Acquisition of other property, plant and equipment |
–307 | –100 |
| Proceeds from the equity release of interests in joint ventures |
0 | 3 |
| Payments for investment in financial assets | –34,803 | 0 |
| Net cash used in investing activities | 53,845 | –28,270 |
| Jan. 1 – Sept. 30, |
Jan. 1 – Sept. 30, |
|
|---|---|---|
| EUR k | 2016 | 2015 |
| 3. Financing activities | ||
| Cash received from equity contributions | 34,803 | 102,881 |
| Payment made for purchase of interests in fully consolidated subsidiaries |
–113 | 0 |
| Payment of transaction costs of issue of shares | 0 | –1,339 |
| Proceeds from the issue of bonds and borrowings |
150,000 | 0 |
| Proceeds from the issue of a company bond | 500,000 | 0 |
| Payments of transaction costs | –6,818 | 0 |
| Payments of dividends | –76,564 | –43,470 |
| Payments of the redemption of bonds and borrowings |
–962,045 | –26,382 |
| Payments for the acquisition/redemption/ adjustment of financial derivatives |
–4,667 | 0 |
| Net cash used in/generated from financing activities |
–365,404 | 31,690 |
| 4. Cash and cash equivalents at the end of the period |
||
| Change in cash and cash equivalents (subtotal of 1 to 3) |
–228,620 | 29,137 |
| Cash and cash equivalents at the beginning of the period |
460,253 | 63,145 |
| Cash and cash equivalents at the end of the period (thereof restricted: EUR 0; previous year: EUR 0) |
231,633 | 92,282 |
| EUR k | Share capital |
Capital surplus |
Hedging reserve |
Retained earnings |
Equity of alstria sharehol ders |
Non controlling interests |
Total Equity |
|---|---|---|---|---|---|---|---|
| As of January 1, 2016 |
152,164 | 1,499,477 | –270 | –31,994 | 1,619,377 | 38,287 | 1,657,664 |
| Changes Q1–Q3 2016 |
|||||||
| Consolidated profit | 0 | 0 | 0 | 78,137 | 78,137 | 4,692 | 82,829 |
| Other comprehen sive income |
0 | 0 | 270 | 0 | 270 | 0 | 270 |
| Total comprehensive income |
0 | 0 | 270 | 78,137 | 78,407 | 4,692 | 83,099 |
| Payments of dividends |
0 | –76,564 | 0 | 0 | –76,564 | 0 | –76,564 |
| Proceeds from shares issued against contri bution in kind |
964 | 10,847 | 0 | 0 | 11,811 | –11,811 | 0 |
| Change of mino rity interest share within equity due to the sale of minority shares |
0 | 0 | 0 | 0 | 0 | 34,803 | 34,803 |
| Change of minority interest share within equity due to the purchase of minority shares |
0 | 0 | 0 | 0 | 0 | –113 | –113 |
| Share-based | |||||||
| remuneration | 0 | 687 | 0 | 0 | 687 | 0 | 687 |
| Conversion of con vertible participation rights |
103 | 103 | 0 | 0 | 206 | 0 | 206 |
| As of September 30, 2016 |
153,231 | 1,434,550 | 0 | 46,143 1,633,924 | 65,858 1,699,782 |
| EUR k | Share capital |
Capital surplus |
Hedging reserve |
Retained earnings |
Equity of alstria sharehol ders |
Non controlling interests |
Total Equity |
|---|---|---|---|---|---|---|---|
| As of January 1, 2015 |
79,018 | 691,693 | –3,095 | 78,977 | 846,593 | 0 | 846,593 |
| Changes in Q1–Q3 2015 |
|||||||
| Consolidated profit | 0 | 0 | 0 | 24,075 | 24,075 | 0 | 24,075 |
| Other comprehen sive income |
0 | 0 | 2,565 | 0 | 2,565 | 0 | 2,565 |
| Total comprehensive income |
0 | 0 | 2,565 | 24,075 | 26,640 | 0 | 26,640 |
| Payments of dividends |
0 | –43,470 | 0 | 0 | –43,470 | 0 | –43,470 |
| Proceeds from shares issued |
7,903 | 94,822 | 0 | 0 | 102,725 | 0 | 102,725 |
| Transaction costs of issue of shares |
0 | –1,339 | 0 | 0 | –1,339 | 0 | –1,339 |
| Share-based remuneration |
0 | 550 | 0 | 0 | 550 | 0 | 550 |
| Conversion of con vertible participation rights |
156 | 156 | 0 | 0 | 312 | 0 | 312 |
| Conversion of con vertible bond |
20 | 243 | 0 | 0 | 263 | 0 | 263 |
| As of September 30, 2015 |
87,097 | 742,655 | –530 | 103,052 | 932,274 | 0 | 932,274 |
alstria office REIT-AG www.alstria.com [email protected]
Bäckerbreitergang 75 20355 Hamburg T +49 (0)40/226341-300 F +49 (0)40/226341-310
Elisabethstrasse 11 40217 Düsseldorf T +49 (0)211/301216-600 F +49 (0)211/301216-615 Platz der Einheit 1 60327 Frankfurt am Main T +49 (0)69/153 256-740 F +49 (0)69/153 256-745
Danneckerstrasse 37 70182 Stuttgart T +49 (0)711/335001-50 F +49 (0)711/335001-55
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