HAMBORNER REIT AG (FRA:HAB) HAMBORNER REIT AG: Highly successful first half of 2011, forecasts raised for year as a whole

Directive transparence : information réglementée

11/08/2011 08:05
DGAP-News: HAMBORNER REIT AG / Key word(s): Half Year Results/Change in Forecast HAMBORNER REIT AG: Highly successful first half of 2011, forecasts raised for year as a whole 11.08.2011 / 08:05 --------------------------------------------------------------------- Press Release HAMBORNER REIT AG: Highly successful first half of 2011, forecasts raised for year as a whole - Rental and leasing income up 26% as at 30 June 2011, FFO climbs 24%, - Growth promises kept: new properties acquired for around EUR41 million, - FFO increase of more than 30% forecast by end of 2011 Duisburg, 11 August 2011 - HAMBORNER REIT AG today presented its report for the first half of 2011 and has had a highly successful first six months. Rental and leasing income for the first half of the year rose by around 26% on the previous year's level to a total of EUR15 million. The increase is essentially due to the new investments. The vacancy rate is still low at 1.8%, or just 1.3% after rent guarantees. In the first six months, HAMBORNER generated an operating result of around EUR6.6 million (previous year: EUR5.6 million) and comprehensive income for the period of EUR3.2 million (previous year: EUR0.1 million). The previous year's earnings were squeezed by the exit tax paid in connection with the transformation into a REIT last year. After four properties were already added to the portfolio in Brunnthal, Bad Homburg, Regensburg and Leipzig in the first quarter of 2011, the company also succeeded in acquiring further attractive properties and keeping its growth promise in the second quarter as well. Agreements were signed for high street properties in Langenfeld and Offenburg and for a DIY store in Aachen. These properties have an investment volume of EUR41 million. The building in Langenfeld was already added to the books as at 30 June 2011. With the properties that have already been added to the books and the purchase agreements that have been signed, HAMBORNER will achieve a portfolio value of around EUR500 million by the end of the year. The forecast issued at the start of the year for a 20% rise in rental and leasing income and a 25-30% increase in FFO by the end of the year will therefore probably be exceeded. The members of the Managing Board Dr. Rüdiger Mrotzek and Hans Richard Schmitz are now anticipating growth in rents of at least 25% and an improvement in FFO of more than 30%. FFO for the first six months amounted to around EUR8.0 million, an increase of approximately 24% on the previous year's level. The company's financial situation is also still extremely solid and comfortable. The REIT equity ratio is 61% and the loan-to-value (LTV) ratio 34%. Key figures as at 30 June 2011

                                                  H1 2011         H1 2010
Rental and leasing income                         EUR15.0         EUR11.9
                                                  million         million
EBITDA                                            EUR11.4   EUR9.3 million
Earnings before depreciation and                   EUR8.0   EUR3.7 million
amortisation (EBDA)*                              million
Earnings in the first half-year*                   EUR3.2   EUR0.1 million
Funds from operations (FFO), absolute              EUR8.0   EUR6.5 million
Funds from operations (FFO) per share**           EUR0.23         EUR0.28
                                             30 June 2011     31 December
REIT equity ratio                                   61.0%           74.4%
Loan-to-value (LTV)                                 34.0%           19.3%
Net asset value (NAV) per share                   EUR8.51         EUR8.74

* Influenced by exit tax in 2010 ** 50% increase in number of shares in 2011 About HAMBORNER REIT AG HAMBORNER REIT AG is a listed public limited company that now operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a solid portfolio of properties distributed throughout Germany. Attractive retail trade spaces in key city centre locations in German cities and intermediate centres form the focal point of the portfolio. In addition, the property portfolio includes highly frequented specialist stores and profitable office buildings as well as doctors' surgeries. The company also owns approximately 2.4 million m² of undeveloped land, located predominantly in Duisburg North and in the adjacent municipalities of Dinslaken and Hünxe. HAMBORNER REIT AG stands out due to many years of experience in the property and capital market, its lean and transparent corporate structure and its particular proximity to the tenants. The company is a registered Real Estate Investment Trust (REIT) and benefits at company level from exemption from corporation and trade tax. Investor Relations: Sybille Albeser Tel.: +49 (0)203 54405-32 Fax: +49 (0)203 54405-49 E-Mail: s.albeser@hamborner.de Web: www.hamborner.de End of Corporate News --------------------------------------------------------------------- 11.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: HAMBORNER REIT AG Goethestraße 45 47166 Duisburg Germany Phone: 0203/54405-0 Fax: 0203/54405-49 E-mail: info@hamborner.de Internet: www.hamborner.de ISIN: DE0006013006 WKN: 601300 Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 134960 11.08.2011