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DAZ On Other Exchanges
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Xetra
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dic asset ag (DAZ) Snapshot

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dic asset ag (DAZ) Details

DIC Asset AG is a real estate investment firm. The firm invests in commercial, retail, institutional, and office property focusing on core property occupied on long-term leases and located in conurbations, metro areas or regional business hubs, and residential real estate properties in Germany. It operates in three segments: Core, Value Added, and Opportunistic Co-Investments. The Core segment includes properties to lease over the long term to tenants. The Value Added segment comprises properties leased over the short term to medium term. The Opportunistic Co-Investments segment includes minority interests in the opportunistic investments in individual properties and portfolios. DIC Asset AG was founded in 2002 and is headquartered in Frankfurt Am Main, Germany.

164 Employees
Last Reported Date: 05/12/15
Founded in 2002

dic asset ag (DAZ) Top Compensated Officers

Chairman of Management Board and Chief Execut...
Total Annual Compensation: €765.0K
Chief Financial Officer and Member of the Man...
Total Annual Compensation: €425.8K
Chief Operating Officer and Member of the Man...
Total Annual Compensation: €315.0K
Compensation as of Fiscal Year 2014.

dic asset ag (DAZ) Key Developments

DIC Asset AG Announces Board Changes; Approves Dividend for 2014

DIC Asset AG announced that supervisory board members Russell Platt and Bernd Wegener ended their term on the supervisory board with this year's shareholder meeting. They were succeeded by Prof. Dr. Ulrich Reuter, District Administrator for the District of Aschaffenburg, and Dr. Anton Wiegers, CFO of Provinzial Rheinland Holding. The company also approved dividend of EUR 0.35 per share, which matches the prior-year dividend (2013: EUR 0.35) for 2014 at shareholder's meeting held on July 2, 2015.

DIC Asset AG Announces Earnings and Operating Results for the First Quarter of 2015; Affirms Earnings Guidance for the Year 2015

DIC Asset AG announced earnings and operating results for the first quarter of 2015. For the quarter, the company reported total income of EUR 45.8 million compared to EUR 62.1 million a year ago. Funds from Operations (FFO) were EUR 12.1 million or EUR 0.18 per share compared to EUR 12.0 million or EUR 0.18 per share a year ago. EPRA earnings per share were EUR 0.17 compared to EUR 0.17 a year ago. Net debt equity ratio was 33.7% compared to 33.4% as on December 31, 2014. Financial debt was EUR 1,656.5 million compared to EUR 1,667.9 million as on December 31, 2014. During the first quarter of 2015 comprised contracts generating aggregate annualised rental income of some EUR 2.0 million compared to EUR 6.8 million a year ago, including EUR 1.1 million in new rentals and EUR 0.9 million in renewed rental agreements. The vacancy rate at the end of the first quarter of 2015 was 11.4%; given the higher proportion of contract expiries at the beginning of each year, this was as planned. Year to date, sales were realised in an aggregate volume of approximately EUR 24 million. The Management Board has affirmed its FFO guidance, according to which the Company projects FFO for 2015 to reach between EUR 48 million and EUR 50 million, up by as much as 4% compared to 2014. Assuming a lower vacancy ratio of 10.5%, rental income of EUR 134 million to EUR 136 million is expected. Regarding the volume of disposals, the Company has affirmed its target range of between EUR 150 million and EUR 170 million. To achieve further growth in the funds business, DIC Asset AG plans to spend between EUR 130 million and EUR 150 million on acquisitions.

DIC Asset AG, Q1 2015 Earnings Call, May 12, 2015

DIC Asset AG, Q1 2015 Earnings Call, May 12, 2015

 

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Industry Analysis

DAZ

Industry Average

Valuation DAZ Industry Range
Price/Earnings 38.8x
Price/Sales 2.6x
Price/Book 0.7x
Price/Cash Flow 9.8x
TEV/Sales NM Not Meaningful
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