Higher interest rates take a bite out of DKR’s earnings
JSE-listed German Reit says plunge in adjusted funds from operations for the December quarter was also due to higher capex
14 February 2023 - 12:53
The JSE-listed German real estate investment trust (Reit) Deutsche Konsum Reit-AG (DKR) said funds from operations (FFO) declined as a result of higher maintenance costs and net interest expenses.
FFO, which measures a Reit’s performance, fell 5.2% year on year to €10.2m (about R195.6m) in the quarter to end-December despite DKR benefiting from an uptick in rental income at the start of its new financial year that came from from acquisitions and inflation-linked rent increases...
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