The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Philipp HS¯ler - Pareto Securities AS, Research Division - Analyst
: Philipp HS¯ler from Pareto. I have 3 questions, please. Firstly, could you perhaps explain again why you decided not to pay a dividend for 2021?
Financially, I think you would have been easily able to afford a small dividend. Secondly, on the outlook for the current year, the FFO target range
looks a little bit disappointing or cautious to me, the lower end would mean a decline year-on-year. Maybe you could explain why you are so
cautious? And last but not least, I know that you are probably not the right ones to ask, but nevertheless I'll try my -- I'll try. Is there any progress
on your major shareholder's intention to sell their stake. Could you comment on this, please?
Question: Philipp HS¯ler - Pareto Securities AS, Research Division - Analyst
: Okay. I understand. Maybe just one follow-up question regarding the current year. So you don't -- we shouldn't expect any acquisitions from your
side this year?
Question: Philipp Sennewald - Hauck AufhSuser Investment Banking - Analyst
: Yes. Congratulations to the sound results for the last year. What pops into my eye is the vacancy rate. You also gave a reason for the increase as, I
guess, Thyssenkrupp moved out of the Essen property. So taking into account all your lettings that will come into effect in the course of the year.
Can you guide for a vacancy level, which we can expect at year-end '22?
Question: Philipp Sennewald - Hauck AufhSuser Investment Banking - Analyst
: All right. Got you. So single digits again. And maybe one follow-up regarding acquisitions. You said before -- to the question before that you plan
to have an acquisition in H2. Can you give us some more color on the size of this acquisition? So you promoted your cash position is quite comfortable
at EUR 140 million. So can we expect a large acquisition there going into the direction of [triple-digit million]? Or are you not able to say something
on that as of now?
Question: Philipp Sennewald - Hauck AufhSuser Investment Banking - Analyst
: All right. Thank you. Fair enough.
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MARCH 17, 2022 / 9:00AM, DMRE.DE - Preliminary Q4 2021 Demire Deutsche Mittelstand Real Estate AG
Earnings Call
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