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Deutsche Wohnen 9-month FFO I Increases; Lifts FY FFO I Outlook

German real estate firm Deutsche Wohnen AG (DWHHF.PK) reported that its FFO I or Funds from Operations for nine-month of 2018 increased to 367.1 million euros from 330.0 million euros last year. FFO I per share grew to 1.03 euros from 0.89 euros in the prior year.

Profit attributable to shareholders of the parent company increased to 731.6 million euros or 2.00 euros per share from 679.0 million euros or 1.90 euros per share last year. This was mainly attributable to higher earnings from Residential Property Management and the improved financial result.

Rental income was 585.0 million euros up from 553.4 million euros last year.

Given the positive business development in the first nine months of the 2018 financial year the company slightly increase annual forecast for FFO I to result between 473 million euros and 478 million euros. Furthermore it expects a valuation uplift of the portfolio up to 1.5 billion euros in the second half of the 2018 financial year.

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