March 24, 2017 / 7:10 AM / in 7 months

BRIEF-Adler Real Estate FY gross rental income up 16.5 pct at 252.4 million euros

March 24 (Reuters) - Adler Real Estate AG:

* Financial year 2016: all guidance targets reached or outperformed

* FY FFO I improved by 69.6 percent to 27.3 million euros ($29.38 million)

* FY gross rental income increased by 16.5 percent to 252.4 million euros

* In 2017, Adler’s financial indicators will show improvements which are expected to be substantial in some cases

* In 2016 Adler Real Estate AG generated income of 36.4 million euros from sale of properties and thus significantly exceeded previous year’s figure (23.5 million euros)

* Expects to significantly reduce its LTV figure stabilizing it to around 55 percent as year progresses in 2017

* Expects that net rental income 2017 will exceed 2016 level by around 3 percent

* 2017 FFO I should increase to around 40 million euros, equivalent to year-on-year growth of nearly 50 percent Source text for Eikon: Further company coverage: ($1 = 0.9293 euros) (Gdynia Newsroom)

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