PIE Events
- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
Germany's DIC expects 2008 profit of e25m, 8.5% portfolio depreciation
German commercial property manager DIC Asset anticipates earning around e25m 2008 group profit when it reports final figures on 10 March. In a shareholder's letter, it said it is holding its own in an extremely difficult economic environment thanks to a focused business model. DIC expects to depreciate current portfolio valuations by around 8.5% compared with the end of 2007 but said it has improved cash-flow through exploitation of current interest rate trends, and has cut average financing costs to around 5%.