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Deutsche Wohnen AG / Key word(s): Quarter Results 12.11.2012 / 07:00 --------------------------------------------------------------------- Earnings as at 30 September 2012 - Forecast for FFO (without disposals) for the year adjusted once again to at least EUR 65 million - Successful start to the integration of the BauBeCon holdings - Increase in FFO (without disposals) in comparison to previous year by 31% to EUR 52.4 million Frankfurt/Main and Berlin, 12 November 2012. In the first nine months of the financial year 2012 Deutsche Wohnen posted a consolidated profit of EUR 50.8 million and, in so doing, more than doubled its profit in comparison to the previous year (EUR 19.7 million). Adjusted earnings before taxes rose by around 60% to EUR 60.2 million (previous year: EUR 37.6 million). This increase is attributable on the one hand to improved earnings from Residential Property Management (+ EUR 17.0 million) and on the other hand to improved earnings from Disposals (+ EUR 7.4 million). The key earnings figure Funds from Operations (FFO, without disposals) rose by 31% in comparison to the previous year to EUR 52.4 million due to acquisitions and operational improvements. The intrinsic value of the company, measured as EPRA NAV, was EUR 11.59 per share as at the reporting date. Foundation laid for BauBeCon integration The integration of the BauBeCon Group (around 23,350 residential units) has started successfully. On 31 October 2012 Deutsche Wohnen concluded a termination agreement with the previous property management company, the Prelios Group. This agreement sets out the individual steps in the integration process up to 31 May 2013. 'As early as 1 November 2012 - ahead of the agreed date - we started to manage the holdings in Berlin and Eastern Germany ourselves. The remaining holdings of the BauBeCon Group will follow step by step during the coming months. This process clearly marks Deutsche Wohnen's integration ability. As part of this integration process we will also be enlarging and strengthening our management team,' explained Michael Zahn, CEO of Deutsche Wohnen AG. Strong operating result The operating result (Net Operating Income, NOI) from Residential Property Management improved to EUR 121.8 million (previous year: EUR 106.2 million). The NOI margin once again improved to 74.2% of the current gross rental income. This increase in current gross rental income was accompanied by an increase in costs of just EUR 3.8 million, which indicates overall an improved portfolio quality with higher earnings potential. Compared with the previous year the in-place rents in the letting portfolio of the strategic core and growth regions increased on a like-for-like basis by 2.5% to 5.73 EUR per sqm (previous year: 5.59 EUR per sqm). This extremely good development is primarily due to surging rents from new lettings. Once again the vacancy rate of 1.5% in the letting portfolio of the core and growth regions as at the reporting date is below the level of the previous year (1.8%). Earnings from Disposals increased to EUR 14.6 million and were thus double the figure for the equivalent reporting date in the previous year (EUR 7.2 million). This is particularly attributable to privatisations, for which the sales proceeds rose from EUR 48.8 million to EUR 86.6 million because of the current favourable market conditions. The KATHARINENHOF(R) Group, which operates the segment Nursing and Assisted Living, was able to increase its earnings to EUR 5.8 million (previous year: EUR 5.3 million). Forecast for the year raised once again After raising its forecast for the current financial year in its half-year report, Deutsche Wohnen AG is once more increasing its forecast for recurring FFO (without disposals) for 2012 to EUR 65 million. Funds from Operations (including disposals) are forecast to be at least EUR 85 million for the current financial year. Deutsche Wohnen Deutsche Wohnen is one of the leading publicly listed residential property companies in Germany with a business focus on managing and developing its residential property portfolio. As of 30 September 2012, the portfolio comprised around 74,000 units in total, of which 73,200 are residential units and 800 are commercial units. The company is listed in the MDAX of the German Stock Exchange and is also included in the leading indices EPRA/NAREIT and GPR 250. Contact: +49 (0)30 / 89786 - 551 End of Corporate News --------------------------------------------------------------------- 12.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Deutsche Wohnen AG Pfaffenwiese 300 65929 Frankfurt Germany Phone: +49 (0)30 89786-0 Fax: +49 (0)30 89786-507 E-mail: ir@deutsche-wohnen.com Internet: http://www.deutsche-wohnen.com ISIN: DE000A0HN5C6, DE0006283302 WKN: A0HN5C, 628330 Indices: MDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 192513 12.11.2012