DGAP-News: Franconofurt AG: Business Performance
(firmenpresse) - DGAP-News: Franconofurt AG / Key word(s): Miscellaneous
Franconofurt AG: Business Performance
14.02.2012 / 11:35
---------------------------------------------------------------------
Franconofurt AG - Corporate News
Update on business performance and outlook 2012
__Forward strategy
The supervisory board has appointed Mr. Christian Wolf, one of the two
founders of Franconofurt AG to the executive board as of January 2012 where
he will be executive board member together with current board member Mr.
Metehan Sen.
Christian Wolf owns 33% of Franconofurt AG and is the major shareholder of
the company. He will accelerate the expansion of the residential portfolio
in Frankfurt so that current net group liquidity will be efficiently
invested.
In the last weeks the company has already acquired at attractive prices
three multi-tenant houses in the best locations of Frankfurt with the
intention to continue acquiring additional multi-tenant houses.
__Major new shareholder and share buy back
In the fourth quarter of 2011 a major German family office has acquired a
stake of 14% in Franconofurt AG.
Franconofurt AG will continue to buy back shares so that NAV will further
increase on the remaining outstanding shares. Based on management
assumptions the NAV (shareholders equity including hidden reserves) is
around EUR 11 per share. The Franconofurt AG book value per share based on
acquisition prices (i.e. at cost accounting) at EUR 1800 per square meter
stands approx. at EUR 7,80 per share.
__Operational performance at Opera One AG
Opera One AG acts as the residential development unit of Franconofurt AG.
In a short period of time the portfolio of development projects was
increased to three of which one project was profitably sold as of end 2011.
Opera One AG due to its comfortable equity and cash position is further
looking to expand its business
__Outlook 2012
Based on the successful fourth quarter and promising indications as of
January / February this year Franconofurt expects to report again a
profitable year 2012 especially when taking into account the current
Euro-uncertainty and low interest rate environment which increases demand
for multi-tenant apartments.
__Upcoming events
Franconofurt AG and Opera One AG will present their business models at the
Frankfurt DVFA Real Estate Conference in Frankfurt on February 28, 2012.
Non-audited results for the year 2011 will be published early March 2012.
The AGM of Franconofurt AG will take place May, 8 2012 in Frankfurt
Disclaimer: NAV per share is based on certain management assumptions which
can prove wrong and thus negatively influence the expected NAV figure.
This press release is no offer to buy or sell shares in Franconofurt AG.
Forward looking statements can deviate from current expectations.
Franconofurt AG is a stock exchange listed investment company. The company
invests in high quality multi-tenant houses in Frankfurt and has an
investment volume of currently EUR 50 million. Franconofurt AG has in the
last five years successfully completed a transaction volume of EUR 700
million with the purchase and sale of residential real estate and related
capital market transactions. Since its first listing in the year 2005
Franconofurt has paid a dividend in each year to its investors.
End of Corporate News
---------------------------------------------------------------------
14.02.2012 Dissemination of a Corporate News, transmitted byDGAP - 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: Franconofurt AG
Rossmarkt 11
60311 Frankfurt am Main
Germany
Phone: +49 (0)69 920 374 100
Fax: +49 (0)69 920 374 101
E-mail: sen(at)franconofurt.de
Internet: http://www.franconofurt.de
ISIN: DE0006372626
WKN: 637262
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart; Entry Standard in Frankfurt
End of News DGAP News-Service
---------------------------------------------------------------------
156616 14.02.2012
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 14.02.2012 - 11:35 Uhr
Sprache: Deutsch
News-ID 114133
Anzahl Zeichen: 5924
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 351 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Franconofurt AG: Business Performance"
steht unter der journalistisch-redaktionellen Verantwortung von
Franconofurt AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
