Deutsche Konsum REIT-AG
LSE:0RDE
Deutsche Konsum REIT-AG
Deutsche Konsum REIT-AG is a real estate investment company, which focuses on retail properties for goods required for daily use in established micro-locations. The company is headquartered in Potsdam, Brandenburg and currently employs 28 full-time employees. The company went IPO on 2015-12-15. The company focuses on the acquisition, rental, inventory management, and sale of retail properties across Germany, with focus on regional centers and micro-locations in the northern and eastern part of Germany.
Deutsche Konsum REIT-AG is a real estate investment company, which focuses on retail properties for goods required for daily use in established micro-locations. The company is headquartered in Potsdam, Brandenburg and currently employs 28 full-time employees. The company went IPO on 2015-12-15. The company focuses on the acquisition, rental, inventory management, and sale of retail properties across Germany, with focus on regional centers and micro-locations in the northern and eastern part of Germany.
Rental Income: Rental income fell by €6.5 million, down 11% year-on-year, mainly due to asset sales.
FFO Drop: Funds from operations (FFO) dropped by €14.2 million to €9.9 million, impacted by asset sales and higher interest rates.
Portfolio Revaluation: A portfolio revaluation led to a €47 million reduction in asset value.
Restructuring Progress: A major debt-to-equity swap for €86 million is planned as part of a broader restructuring, expected to significantly lower leverage.
Loan Extensions: Most loan maturities are being extended to September 2027, contingent on lender support.
No Guidance: The company is not providing financial guidance for FY24/25 due to ongoing restructuring.
JSE Delisting: The process to delist from the Johannesburg Stock Exchange is still ongoing but progressing slowly.
