Germany's Alstria office REIT posted a 10.7% year-on-year increase in revenues which reached EUR 24 mln in the first quarter of 2012, mainly as a result of acquisitions carried out in 2011.
Germany's Alstria office REIT posted a 10.7% year-on-year increase in revenues which reached EUR 24 mln in the first quarter of 2012, mainly as a result of acquisitions carried out in 2011.
Funds from operations rose by 22.2% to nearly EUR 10 mln in the first three months of the year, while FFO per share increased by 9.1% to EUR 0.12 in the same period.
First-quarter net profit amounted to EUR 10.2 mln, up 3.7% on Q1 2011.
'It was of paramount importance that we generated FFO per share growth following the capital increase reinvestment, and we are glad that we have been able to deliver on this promise,' said Alstria's CEO Olivier Elamine.
He added: 'The consolidation of the recently-acquired Dive portfolio should allow us to further improve our FFO per share. Our asset management work is now focusing on leasing up the new vacant space that we have acquired, providing even further upside to the FFO.'
Alstria confirmed its 2012 forecast of annual revenues of EUR 100 mln and FFO of EUR 40 mln, up from EUR 91 mln and EUR 35 mln respectively in 2011.
