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TLG Immobilien FY18 FFO Climbs, Sees FFO Growth In FY19 - Quick Facts

TLG Immobilien AG, a German commercial real estate company, on Thursday reported that its fiscal 2018 funds from operations or FFO increased 30.5% to 134.0 million euros from last year's 102.7 million euros. FFO per share was 1.30 euros, up from 1.29 euros a year ago.

Rental income increased 33% to 223.9 million euros from 168.3 million euros a year earlier.

The total shareholder return on which the company intends to focus more closely grew 30.8% on the basis of the adjusted EPRA Net Asset Value and the dividend payment in 2018.

The adjusted EPRA NAV was 26.27 euros per share as at 31 December, which represents growth of 26.8%.

The value of the property portfolio increased to 4.1 billion euros from prior year's 3.4 billion euros.

Given the successful course of business in 2018 and with the approval of the Supervisory Board, the company would propose the payment of a dividend of 0.91 euro per share to the general meeting of TLG IMMOBILIEN in Berlin on May 21.

Looking ahead for fiscal 2019, the company expects the property portfolio to continue to grow and FFO to increase to between 140 million euros and 143 million euros or by around 5% to between 1.35 euros per share and 1.38 euros per share.

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