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FFO/AFFO

Funds from operations (FFO)/adjusted funds from operations (AFFO): Key performance indicator for operating business and also a key control parameter of the company. FFO is used in value-oriented corporate management to show the funds generated that are available for investments, repayments and dividend distributions to shareholders in particular. Adjusted for maintenance expenditure not recognised as an expense in the financial year, this figure is known as AFFO.

Calculation of FFO/AFFO

Net rental income

– Administrative expenses
– Staff costs
+ Other operating income
– Other operating expenses
– Interest expenses

FFO

– Capitalised expenditure (CapEx)

AFFO

More information on the calculation of FFO and AFFO can be found in the economic report section of our annual report.