DGAP-News: KWG Kommunale Wohnen AG expects significant increase in profit in 2010 with net result of at least 4 million euros
ID: 289069
04.11.2010 13:33
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Hamburg - 4th November 2010 - KWG Kommunale Wohnen AG, long-term owner and
operator of a portfolio of apartments in Germany, has been motivated by the
company's very positive development in 2010 to make a more specific
forecast for the year as a whole. The company expects Group annual net
income of at least 4 million euros, with cash profit accounting for a good
20% of the total result. With these figures, KWG is looking forward to by
far the best result in its history: profit is expected to be at least 25%
above last year's level, and as much as five times higher than in 2008.
The positive development of the company result reflects the value
enhancement brought about by modernisation work on KWG's portfolio,
accompanied by rising rental income and lower vacancy rates and
complemented by active asset management. Thus KWG has shown that it has a
lastingly profitable business model, generating a return both from current
operations and from portfolio development. The company is accordingly
optimistic for the year 2011.
KWG Kommunale Wohnen AG
Alstertor 9
20095 Hamburg
Tel.: 040/ 2263088-100
eMail: ir@kwg-ag.de
edicto GmbH
Axel Mühlhaus
Zeißelstraße 19
60318 Frankfurt a. M.
Tel.: 069/ 9055055-0
eMail: amuehlhaus@edicto.de
04.11.2010 13:33 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: KWG Kommunale Wohnen AG
Alstertor 9
20095 Hamburg
Deutschland
Phone: 040 22 63 088 100
Fax: 040 22 63 088 200
E-mail: ir@kwg-ag.de
Internet: www.kwg-ag.de
ISIN: DE0005227342
WKN: 522734
Listed: Freiverkehr in München, Berlin, Stuttgart; Open Market (Entry
Standard) in Frankfurt
End of Announcement DGAP News-Service
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Datum: 04.11.2010 - 13:33 Uhr
Sprache: Deutsch
News-ID 289069
Anzahl Zeichen: 2767
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Kategorie:
Wirtschaft (allg.)
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