Deutsche Konsum REIT-AG Progresses Despite Market Challenges

Deutsche Konsum REIT-AG, a German property firm focused on food-retail anchored assets, navigated the financial year 2023/2024 with significant strategic moves amid a challenging market environment. The firm reduced its debt by EUR 88.6 million and successfully refinanced bonds worth EUR 145.9 million. A new CFO, appointed in June 2024, has reinforced the leadership team, enhancing overall business processes.

Rental income slightly declined by 2.9% to EUR 77.4 million due to portfolio sales. Net rental income also saw a small drop of 1.8%, settling at EUR 47.4 million. Despite increased debt costs, Funds from Operations (FFO) met expectations, decreasing to EUR 27-29 million. The company's leverage ratio was lowered to 57-60%, indicating a healthier financial stance.