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TLG Immobilien 9-month FFO Rises; Lifts FY19 View

TLG Immobilien AG, a German commercial real estate company, reported Wednesday that its nine-month funds from operations or FFO grew 6.9 percent to 107.69 million euros from last year's 100.75 million euros. FFO per share improved 3.1 percent to 1.01 euros from 0.98 euro a year ago.

Net income climbed 77.6 percent to 355.33 million euros from last year's 200.10 million euros.

Rental income increased 4 percent to 172.96 million euros from last year's 166.35 million euros.

As of September 30, the EPRA NAV was 30.25 euros per share, surpassing the 30 euros threshold for the first time.

Looking ahead for fiscal 2019, the company now expects FFO to grow to around 147 million euros due to its 15 percent stake in Aroundtown and in consideration of the interest burden of the bonds issued in September 2019. The company previously expected FFO to increase to between 140 million euros and 143 million euros by the end of 2019.

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