Deutsche Wohnen 9-month Profit Rises

(RTTNews) - Deutsche Wohnen (DWHHF.PK) reported consolidated earnings of 521.7 million euros for the first nine months of financial year 2015, compared to 144.9 million euros, prior year. Funds from Operations increased around 38% year-on-year to 228.7 million euros. On a per-share basis, FFO rose approximately 28% to 0.73 euros. FFO II improved by approximately 41% to 289.5 million euros, and by around 30% to 0.92 euros on a per-share basis.

In-place rents increased to 473.1 million euros from 469.3 million euros, prior year. Net Operating Income totaled 360.3 million euros compared to 354.5 million euros, a year ago.

Deutsche Wohnen expects rents to increase by around 3.5% in 2015 for the entire letting portfolio and by around 4% in Berlin.

Deutsche Wohnen announced that, Andreas Segal, CFO, will be leaving the management board on 11 November 2015 by mutual agreement. The responsibilities of Segal will be taken over by Michael Zahn (Investor Relations, Legal) and Lars Wittan (Corporate Finance).