DEMIRE's 9M 2024 Results Impacted by Smaller Portfolio

In the first nine months of 2024, DEMIRE Deutsche Mittelstand Real Estate AG's financial results were impacted by a reduced portfolio size, aligning with management expectations. Rental income dropped to EUR 50.6 million from last year's EUR 59.9 million, attributed mainly to portfolio reductions.

While EBIT improved to EUR -22.9 million due to fewer negative market adjustments, FFO I decreased by 17.5% to EUR 23.0 million. The Net LTV fell to 52.3% following property sales, an improvement from the 57.7% recorded at the end of 2023.

Despite these financial declines, DEMIRE saw an increase in letting performance to 60,310 m², with lease renewals significantly contributing to this rise. The NAV per share decreased by EUR 0.26 to EUR 2.98 in the reporting period.

Guidance for full-year 2024 remains steady. The company predicts rental income between EUR 64.0 million and EUR 66.0 million, significantly lower FFO compared to 2023.