Branicks Group AG
XETRA:BRNK
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Branicks Group AG
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Branicks Group AG
DIC Asset AG engages in the management of office and real estate properties, as well as office and real estate logistics. The company is headquartered in Frankfurt, Hessen and currently employs 341 full-time employees. The company went IPO on 2003-05-05. The company expands its real estate assets through acquisition and project development. The firm divides its business processes into two main business segments: Commercial Portfolio and Co-Investments segment. The Commercial Portfolio's investment horizon varies from mid to long-term and includes direct real estate investments. The Co-Investment segment comprises the investments, including co-investments in special funds and joint venture investments. The company operates the funds: DIC Office Balance I, an office property fund; DIC Office Balance II, an office property fund; and DIC HighStreet Balance, a retail property fund.
DIC Asset AG engages in the management of office and real estate properties, as well as office and real estate logistics. The company is headquartered in Frankfurt, Hessen and currently employs 341 full-time employees. The company went IPO on 2003-05-05. The company expands its real estate assets through acquisition and project development. The firm divides its business processes into two main business segments: Commercial Portfolio and Co-Investments segment. The Commercial Portfolio's investment horizon varies from mid to long-term and includes direct real estate investments. The Co-Investment segment comprises the investments, including co-investments in special funds and joint venture investments. The company operates the funds: DIC Office Balance I, an office property fund; DIC Office Balance II, an office property fund; and DIC HighStreet Balance, a retail property fund.
Debt Reduction: Branicks continued its deleveraging, paying back EUR 225 million in promissory notes in H1 and another EUR 68 million in July, with only EUR 64 million left to roll in 2025.
Asset Sales: The company sold 14 commercial assets totaling EUR 386 million in the first nine months, with EUR 381 million already closed and the rest expected by year-end.
Stable Rental Income: Like-for-like rental income grew by 1% in the commercial portfolio; average rent rose from EUR 9.63 to EUR 10.34 per square meter.
Vacancy Rate: Vacancy increased, especially in offices due to expiring large contracts and in logistics, but new leases are expected to reduce vacancies from 2026.
Write-Downs: EUR 178 million in write-downs were taken on asset sales, notably EUR 133 million related to two specialized VIB assets.
Guidance Unchanged: Full-year guidance was maintained for gross rental income (EUR 125–135 million) and FFO I (EUR 40–55 million), but real estate management fees guidance was lowered.
Cost Discipline: Operating expenses were reduced by about 6% year-on-year, with expectations to finish the year in the high single-digit reduction range.
VIB Integration: Branicks is moving forward with a control and profit transfer agreement with VIB, aiming for greater efficiency and alignment, targeting completion in 2026.
