DIC Asset AG: Strong operational business at year-end 2010

DIC Asset AG (WKN 509840/ ISIN DE0005098404) now presents the first provisional operating results for the financial year 2010 after a successful fourth quarter. The figures for operations relate to the letting volume and the sales volume:
The letting volume of DIC Asset AG reached some 256,000 sqm in 2010; up about 4% compared to 2009 (245,500 sqm). Extensions to existing tenancy agreements saw a strong 12% increase to around 153,000 sqm (136,700 sqm), while new tenancies reached the level of 103,000 sqm (108,800 sqm). The annualised rental income from these new tenancies and extensions to existing tenancy agreements is some 9% higher year-on-year, at about EUR 27 million (2009: EUR 24.8 million). The relatively large leasing deals in 2010 include a print system manufacturer and service provider in Hanover, who leased or prolonged a total of more than 18,000 sqm, Schwab Versand (Frankfurt area) with new tenancies and extensions to existing tenancy agreements of 12,000 sqm, as well as BMW (Munich) with an extension to the tenancy agreement for 8,800 sqm.

The sales volume increased significantly in 2010 to EUR 132 million after 60 million last year 2009. In 2010, sales regained a substantial momentum towards year-end, with a transaction volume of EUR 62 million in the fourth quarter alone. The biggest transactions include two office and commercial properties in Flensburg (EUR 29 million) and Mannheim (EUR 17 million).