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Deutsche Wohnen 9-month FFO I Rises

German real estate firm Deutsche Wohnen AG (DWHHF.PK) reported that its FFO I or Funds from Operations rose for the first nine months of the financial year 2016 about 32% to 301.4 million euros from the previous year's 228.7 million euros, with FFO I per share improving 22% to 0.89 euros.

Group profit grew to 638.4 million euros 521.7 million euros last year.

FFO II, which includes earnings from disposals, improved by 20% to 347.8 million euros and per share by approximately 12% to 1.03 euros.

For the financial year 2016, Deutsche Wohnen confirmed its forecast of FFO I of at least 380 million euros. This would mean a dividend of approximately 0.73 euros per share, an increase of around 35 % compared to the previous year. Without special effects, and assuming that overall conditions remain the same, Deutsche Wohnen anticipates an EPRA NAV of around 30 euros per share for 2016 following the revaluation of its portfolio. This represents an increase of around 30% compared with 31 December 2015. The LTV ratio will fall to below 40% by the end of the year.

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