BRUSSELS (dpa-AFX) - LEG Immobilien SE (LEG.DE), a German residential real estate company, on Tuesday reported lower funds from operations for the first half.
Funds from operations I (FFOI) declined 4.4% to €230.5 million from €241.2 million last year.
FFO II fell 4% to €229.5 million from €239.0 million in the previous year.
Adjusted funds from operations (AFFO) decreased to €110.5 million or €1.46 per share from €126.6 million or €1.70 per share a year ago.
Adjusted EBITDA, however, increased 2.3% to €368.1 million from €360.0 million last year.
Net cold rent rose 3.4% to €473.4 million from €457.8 million a year earlier.
Income from rentals and leasing (adjusted) rose 3.3% to €396.3 million from €383.8 million.
EPRA NTA was €10.508 billion or €139.04 per share, up 1.4% year on year.
Looking ahead, the company continues to expect full-year adjusted FFO to be in the range of €220 million to €240 million.
LEG Immobilien shares closed 2.4% higher at €53.30 on Germany's XETRA exchange on Monday.
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