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The Guidance Report - Europe

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The Guidance Report - Europe

This roundup collects recently reported guidance from European real estate companies.

* For fiscal year 2017, Fair Value REIT-AG believes its FFO before noncontrolling interests will come in between roughly €9.6 million and €10.2 million, and after noncontrolling interests will be between €6.1 million and €6.4 million, corresponding to between 43 euro cents and 46 cents on a currently outstanding per-share basis.

The company plans to seek shareholder approval to increase its fiscal 2016 dividend to 40 cents per share from a previously anticipated payout of 25 cents per share.

* TK Development A/S offered a before-tax earnings outlook for the 2017-2018 financial year of 100­ million Danish kroner to 120 million kroner, adding that it expects the group's property development activities to contribute a return on equity of 15%.

* Conwert Immobilien Invest SE expects to report decreased FFO l between €64 million and €74 million in 2017, compared to 2016's "record value" of €80.0 million. The company attributed the projected decline to a reduction in its usable space as a result of asset disposals in noncore markets in 2016 and early 2017.

* Hamborner REIT AG expects its FFO for financial year 2017 to range between roughly €43 million and €44 million, or a year-over-year increase of 19% to 22%, while an increase of between 16% and 18% is anticipated for the company's rental income. New acquisitions in 2016 and early 2017, and purchased properties notarized but not yet transferred, were cited as reasons for the forecasts.

* In 2017, Adler Real Estate AG intends to expand its real estate portfolio and offset the sale of 2,800 noncore units with an equivalent amount of acquisitions. This, together with expected improvements in operational performance, average rent per square meter and vacancy rates, brings the company's forecast net rental income for 2017 to €172.5 million, a 3% increase year over year.

Factoring in operational improvements, enhanced cost structure and decreased interest expenses, Adler expects FFO l to increase 46.5% to 40.0 million for 2017, compared to €27.3 million in 2016.

As of March 30, US$1 was equivalent to 6.93 Danish kroner.