HAMBORNER REIT AG (FRA:HAB) HAMBORNER REIT AG: HAMBORNER continues on course for growth in the first half of 2010

Directive transparence : information réglementée

12/08/2010 08:36
HAMBORNER REIT AG / Half Year Results/Half Year Results 12.08.2010 08:36 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- HAMBORNER REIT AG: HAMBORNER continues on course for growth in the first half of 2010 - Rental and lease revenues continue to rise, - Results from operations (FFO ) increase by 21.7%, - Approximately EUR83 million invested overall in attractive properties. Duisburg, August 12, 2010 - In the first half of 2010 the firm HAMBORNER REIT AG can again announce continuing positive progress in its operational business activities. The management revenues in the first six months are approximately 7% above those for the same period the previous year at around EUR11.8 million. The increase essentially results from the new investments carried out at the end of 2009 and in the first six months of 2010. The vacancy rate of the period under review is 2.3%, thereby improving by 1.4% points with respect to the comparable value for the previous year (3.7%). When adjusted to take into account rent guarantees, however, the level is only 1.2%. During the first half of the year HAMBORNER's results from operations (FFO) were around EUR6.3 million, which is 21.7% above the previous year's level (EUR5.3 million). An increase is also expected for the whole of 2010 compared to last year. Upon the company's acquisition of REIT status as of January 1, 2010 and the associated permanent exemption from corporation and trade tax, the undisclosed reserves had to be determined and the tax due on them paid (final tax assessment). With the tax liability of EUR16.6 million formed for this in the first quarter of 2010 it was possible to release deferred taxes of EUR13.8 million on balance, so that the resulting negative effect on earnings was EUR2.8 million. In spite of this one-off special effect, the period result overall in the first six months of 2010 is balanced, after a figure of -EUR1.4 million in the first quarter of 2010. In terms of investments, HAMBORNER continued on the course of growth which it had already started. After the acquisition of an office building in Erlangen, an OBI market in Hilden and a high street property in Kamp-Lintfort in the first three months of the year, HAMBORNER invested in two attractive EDEKA centres in Stuttgart and Freiburg during the course of the second quarter. This was followed in August by the notarisation of a commercial building in Bad Homburg and an office property in Ingolstadt. With these investments totalling approximately EUR83 million, HAMBORNER is successfully implementing its strategy of yield-oriented growth, particularly in the area of south Germany, thereby laying the foundation stone for a further increase in the FFO. The NAV as of June 30, 2010 is EUR9.51 per share. The financial situation of the company remains extremely sound and comfortable. The REIT equity ratio is 58.0 % and the loan to value (LTV) 37.2%. HAMBORNER REIT AG therefore remains in an ideal position for future value-creating growth. Key data as of June 30, 2010

                                            June 30, 2010   June 30, 2009
Rental and lease revenues                         EUR11.8         EUR11.1
                                                  million         million
EBITDA                                      EUR9.2 million  EUR9.2 million
Net income for the year before depreciation EUR3.7 million  EUR6.5 million
Net profit for the period*                        EUR0.05   EUR3.3 million
Funds from Operations (FFO)                      EUR6,371        EUR5,325
                                                  million         million
                                            June 30, 2010    Dec 31, 2009
REIT equity capital ratio                          58.0 %          67.2 %
Loan to Value (LTV)                                37.2 %          34.3 %
Net Asset Value (NAV) per share                   EUR9.51        EUR10.37

* affected by exit tax in 2010 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's base consists of sustainable rental incomes via a nationally-dispersed substantial property portfolio. 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 doctors' offices, apartments and parking spaces. Furthermore, the company still has approximately 4.5 million m² of undeveloped land areas, which are 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 as well as the special closeness 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. Press contact: Sybille Albeser Tel.: +49 (0)203 54405-32 Fax: +49 (0)203 54405-49 E-mail: s.albeser@hamborner.de Web: www.hamborner.de 12.08.2010 08:36 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: HAMBORNER REIT AG Goethestraße 45 47166 Duisburg Deutschland 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 Frankfurt (Prime Standard), Hamburg, München, Düsseldorf, Berlin, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------