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HAMBORNER REIT AG (FRA:HAB) HAMBORNER REIT AG: Provisional earnings figures confirm successful 2013 financial year

Directive transparence : information réglementée

06/02/2014 07:00
DGAP-News: HAMBORNER REIT AG / Key word(s): Preliminary Results/Final Results HAMBORNER REIT AG: Provisional earnings figures confirm successful 2013 financial year 06.02.2014 / 07:00 --------------------------------------------------------------------- HAMBORNER REIT AG: Provisional earnings figures confirm successful 2013 financial year - Rental and leasing income up around 22% - Rise in operating result (FFO) of around 26% - Dividend proposal: Dividend of 40 cents per share Duisburg, 6 February 2014 - HAMBORNER REIT AG can look back on another successful financial year. For instance, the company managed to acquire a number of attractive properties. HAMBORNER assumed ownership of the NuOffice office building in Munich - which now has platinum LEED certification - back at the start of January 2013. This was followed in March by the office building on the EUREF Campus in Berlin. At the end of May, a mixed-use property in Bayreuth was added to the portfolio, followed by a newly constructed OBI DIY store in Hamburg in December. Due to this new objects, the portfolio value rose by around EUR114.6 million to EUR691.8 million as at 31 December 2013. In addition, a purchase agreement for a commercial property in Bad Homburg's pedestrianised zone was signed in December. This property was added on 10 January 2014. HAMBORNER also made progress with the sale of smaller properties with high administrative requirements. A property in Oberhausen were sold and sale agreements for properties in Moers, Wuppertal and Hanover were signed in 2013. Annual rental income of around EUR0.8 million stemmed from around 13 commercial and 31 residential rental agreements here. The administrative capacity freed up as a result of this can now be put to good use elsewhere in the asset portfolio. The company's successful business policy is reflected by the key performance indicators. According to provisional annual financial statement figures that have not yet been audited, rental and leasing income for 2013 again posted a double-digit increase of around 22% to EUR45.2 million (previous year: EUR37.0 million). The average vacancy rate remained at a low level of 3.4% (2.5% including rent guarantees). The operating result was EUR20.4 million after EUR17.5 million in the previous year. This rise of around 17% is attributable in particular to the higher rental income. At EUR20.8 million, EBIT was around 13% higher than in the previous year (EUR18.4 million). After deducting net financing costs and taxes, the net profit for the year amounted to around EUR8.5 million, up 10% on the previous year's figure (EUR7.7 million). As a key indicator of operating performance and for the company's controlling system, FFO (funds from operations) and FFO per share climbed by around 26% to EUR23.8 million (previous year: EUR18.9 million) and EUR0.52 (previous year: EUR0.41) respectively. The company's net asset value (NAV) per share is EUR8.25 (previous year: EUR8.17 per share). The company's financial position remains very healthy. Bank deposits and cash balances stand at EUR28.2 million, in line with the previous year (EUR29.3 million). The loan-to-value (LTV) ratio is 43.7% (previous year: 34.2%). The REIT equity ratio of 52.5% is also still well in excess of the 45% required under the German REIT Act. In light of the consistently good business performance in 2013, the Managing Board intends - subject to the approval of the Supervisory Board - to propose to the Annual General Meeting on 6 May 2014 a dividend of EUR0.40 per share. Based on the year-end price of shares of the year of EUR7.34, this marks a dividend yield of 5.4%. The company will publish its final figures on 26 March 2014.

Overview of key figures       2013 preliminary        2012           Change
                                       figures

Income from rents and leases   EUR45.2 million     EUR37.0            + 22%
                                                   million

Operating result               EUR20.4 million     EUR17.5            + 17%
                                                   million

EBIT                           EUR20.8 million     EUR18.4            + 13%
                                                   million

Net profit for the year         EUR8.5 million      EUR7.7            + 10%
                                                   million

REIT equity ratio                        52.5%       60.3%  - 7.8
percentage
                                                                     points

Loan-to-value (LTV)                      43.7%       34.2%  + 9.5
percentage
                                                                     points

Funds from operations          EUR23.8 million     EUR18.9            + 26%
                                                   million

Funds from operations (FFO)            EUR0.52     EUR0.41            + 26%
per share

Net asset value (NAV)         EUR375.3 million    EUR371.8             + 1%
                                                   million

Net asset value (NAV) per              EUR8.25     EUR8.17             + 1%
share

Dividend per share (*)                 EUR0.40     EUR0.40           +/- 0%






(*) Proposal to the AGM, subject to the approval of the Supervisory Board About HAMBORNER REIT AG HAMBORNER REIT AG is a stock exchange-listed public limited company that today exclusively operates in the property sector and is positioned as a portfolio holder for high-yielding commercial properties. The company has sustainable rental incomes, with a nationally-dispersed substantial property portfolio as its foundation. Attractive retail trade spaces in key town centre sites of 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 spaces for medical practices. HAMBORNER REIT AG stands out due to its many years of experience in the property and capital market, its lean and transparent corporate structure as well as its special proximity to the tenants. Since February 18, 2010 HAMBORNER has been a registered Real Estate Investment Trust (REIT) and benefits at company level from exemption from corporation and trade tax. Contact: Sybille Schlinge Tel.: +49 (0)203 54405-32 Fax: +49 (0)203 54405-49 E-mail: s.schlinge@hamborner.de Web: www.hamborner.de End of Corporate News --------------------------------------------------------------------- 06.02.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group 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 Indices: SDAX Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 251239 06.02.2014