(DGAP-Media / 2015-11-19 / 07:35)- Significant growth of income from rental activities (+88%), EBITDA (+81%)and FFO1 (+99%)- Strong like-for-like rental growth of 6.5%- Net Asset Value per share at EUR 20.54 as of 30 September, before therevaluation of the portfolio at the end of the year- The company signed new deals in an amount of approx. EUR 150 million tobe completed by the end of the year increasing its annualized FFO1 toapproximately EUR 39 millionBerlin, 19 November 2015 - ADO Properties S.A., the only Prime Standardlisted residential real estate company solely focused on the city ofBerlin, has continued with its growth dynamic in the third quarter of thecurrent financial year. This is reflected in the figures published todayfor the first nine months of 2015.Operational key figures again improved significantly The income from rental activities of ADO Properties increased by 88%year-on-year to EUR 46.7 million in the first nine months of the year(30.9.2014: EUR 24.8 million). This growth was mainly driven by theintegration of the Carlos Portfolio with 5,750 residential units from 1April 2015. The EBITDA from rental activities increased by 81% from EUR18.9 million for the first nine months of 2014 to EUR 34.2 million for thefirst nine months of 2015.The FFO1 (without profit from disposals) in Q3 2015 rose by approximately125% to EUR 8.5 million in comparison to the corresponding Q3-period of theprevious year (Q3 2014: EUR 3.8 million). This results in an annualizedFFO1 of EUR 21.6 million for this year's first nine months respectively EUR0.79 per share (9 months 2014: EUR 10.9 million respectively EUR 0.43 pershare.The average in-place rent of the residential portfolio increased to EUR5.75 per sqm per month at the end of the reporting period. In comparison,the average rent for new lettings amounted to EUR 7.92 per sqm and month.On a like-for-like basis that reflected an average annual rental growth of6.5% as of 30 September 2015. The vacancy rate for the residentialportfolio was reduced by the company from 4.8% as of 31 December 2014 to4.0 % (3.0% on a like-for-like basis) as of 30 September 2015.Further growth of the portfolio by new acquisitions ADO Properties' portfolio was valued at EUR 1.2 billion as of 30 September2015. It comprises approximately 14,600 units at the end of the reportingperiod, of which are around 13,850 residential units (31.12.2014: 6,600units). The acquisition of the Carlos Portfolio with 5,750 residentialunits in Spandau and Reinickendorf in April 2015 had the greatest impact onportfolio growth. The Net Asset Value of the portfolio amounted to EUR719.0 million or EUR 20.54 per share as of 30 September 2015. After the endof the reporting period the company acquired further 1,021 residentialunits and 121 commercial units in Berlin, thus providing further potentialfor earnings and growth.The financial structure of the company remains conservative and solid withan LTV of 41.8% by 30 September 2015. The average interest rate is at 2.6%.More than 95% of the loans have fixed interest rates or are hedged. Theloan maturity is approximately 5.75 years.Outlook for 2015 remains positive - FFO forecast confirmed"We can confirm our FFO1 guidance of EUR 30 million for the financial year2015", explained Rabin Savion, CEO of ADO Properties. "Including our newacquisitions we are expecting to close in 2015, we expect an annualizedFFO1 run-rate of EUR 39 million. The results of the first nine months show,that our successful development is based on our stable operative businessas well as on the consistent implementation of our growth strategy. Afterour IPO we promised further growth of our portfolio and since then we havesigned five acquisitions adding more than 1,200 units to our portfoliowhich will positively influence our results from next year. At the sametime we also got a significantly higher perception at the capital market.Five analysts are currently covering ADO Properties with price targetsbetween EUR 24 to EUR 27, and our company became not only member of theFTSE EPRA/NAREIT Global Real Estate Index family but also of the GermanStock Exchange's SDAX Index. This is an important step for many of ourinvestors."Ofer Kotler to leave the board - Moshe Lachmani appointed as new chairmanWith effect of the board meeting on November 18, 2015 Mr. Ofer Kotlerresigned from his position as Chairman of ADO Properties S.A. after he lefthis positions at ADO Group Ltd., the largest shareholder of ADO PropertiesS.A. and Shikun & Binui, the major shareholder in ADO Group. Mr. YaronKarisi (47, Civil Engineer), the new CEO of Shikun & Binui and a newdirector in ADO Group Ltd., was appointed as new board member of ADOProperties S.A.. Mr. Moshe Lachmani was appointed as new chairman of theboard of ADO Properties S.A..
30.09.15 30.09.14 Difference Difference 31.12.14Key Figures absolute percentageIncome from rental 46,721 24,837 21,884 88.1% 33,719activities, inthousands EUREBITDA from rental 34,224 18,946 15,278 80.6% 24,584activities, inthousands EUREBITDA, in thousands 35,215 18,983 16,232 85.5% 24,682EURFFO 1, in thousands 21,597 10,851 10,746 99.0% 13,529EURFFO 1 per share, EUR 0.79 0.43 0.36 83.7% 0.54FFO 2 (including 22,492 10,888 11,604 106.6% 13,627disposal), inthousands EUREPRA NAV, in 719,050 354,779thousands EUREPRA NAV per share, 20.54 14.19EURLTV, percent 41.8% 54.4%Residential Units 13,851 6,596Portfolio value, MEUR 1,211In-place-rent 5.75residential EUR/sqm/monthVacancy rate 4.0%residential percentRent for new letting, 7.92EUR/sqm/monthMaintenance and CAPEX 19.6per sqmAbout ADO PropertiesADO Properties is a pure-play, Berlin-based residential real estate companywith16,000 units including the latest acquisitions. The Company has a fullyintegrated, scalable in-house platform with its own property management.Along with the responsibility for the condition of its apartments andbuildings, ADO Properties also assumes responsibility towards people,employees, and neighborhoods. ADO Properties' portfolio is focused oncentral locations in Berlin and attractive suburban districts.Press contactRUECKERCONSULT GmbHFranziska JenkelWallstraße 1610179 Berlin, GermanyPhone.: +49 30 2844987-61Fax: +49 30 firstname.lastname@example.orgEnd of Media Release---------------------------------------------------------------------Issuer: ADO Properties S.A.Key word(s): Real estate2015-11-19 Dissemination of a Press Release, transmitted by DGAP - aservice of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------Language: English Company: ADO Properties S.A. 20 rue Eugène Ruppert LK-2453 Luxembourg Grand Duchy of Luxembourg Phone: +49 (0)30-403 907 900 Fax: +49 (0)30-403 907 901 E-mail: email@example.com Internet: www.ado.immo ISIN: LU1250154413 WKN: A14U78 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard), Luxembourg; Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange End of News DGAP Media --------------------------------------------------------------------- 414627 2015-11-19