DGAP-News: KWG Kommunale Wohnen AG: KWG 2011 reports record Revenues and Profit - significant additional growth planned
(firmenpresse) - DGAP-News: KWG Kommunale Wohnen AG / Key word(s): Preliminary Results
KWG Kommunale Wohnen AG: KWG 2011 reports record Revenues and Profit -
significant additional growth planned
01.03.2012 / 07:50
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- Net Cold Rent increase to approx. EUR 15 million (FY 2010a EUR 13.3
million)
- Earnings After Tax around EUR 8.8 million (FY 2010a EUR 8.6 million)
- Net Asset Value per share at around EUR 8.00
- Significant additional growth planned for FY 2012e
Hamburg, 01 Mar 2012 - For KWG Kommunale Wohnen AG, the German long-term
oriented German property holding company, 2011 proved to be the most
successful year in its history based on preliminary numbers as it managed
to exceed even last year's record numbers on revenues and profit. Net Cold
Rent increased significantly, while vacancies were reduced substantially.
KWG once more managed to comfortably meet its own forecast - which it had
previously increased over the course of 2011.
Preliminary Total Revenues for FY 2011 increased to approx. EUR 21.5
million, compared to EUR 19.8 million in FY 2010a. Total Revenues include
net cold rents plus incidental costs for tenants. Net Cold Rent for the KWG
Group increased from EUR 13.3 million in FY 2010a to around EUR 15.0
million in FY 2011. During Q4 2011 alone, Net Cold Rent amounted to
approximately EUR 4 million. Main drivers were the significant reduction of
vacancies combined with increasing prices per square meter in new lettings
as well as on existing contracts as a result of a consistent increase of
the portfolio's quality and value. The vacancy rate per 31 Dec 2011 dropped
to 2.7 % - which implies a more than 50% reduction as compared to previous
year's 6.4 %.
Preliminary FY 2011 Earnings Before Tax improved to EUR 11.4 million from
last year's EUR 10.7 million. Earnings After Tax of approximately EUR 8.8
million exceeded last year's number of EUR 8.6 million. Earnings Per Share
amounted to about EUR 0.81, whereas the Net Asset Value Per Share increased
to around EUR 8.00 - compared to EUR 7.23 by the end of FY 2010a.
KWG expects to continue its dynamic growth in the current fiscal year. On a
status-quo basis annualized Net Cold Rent from Q4 2011 amounts to EUR 16
million alone. KWG aims to beat this number through a further optimization
of the portfolio. The Board of Management also expects an increased
profitability of the existing portfolio - along with an increased Net Asset
Value. Additionally KWG aims to increase its key numbers by profitable and
instantly accretive acquisitions.
About KWG AG
KWG Kommunale Wohnen AG is a German property company with a long-term
investment approach. The company acquires property portfolios for
attractive prices in well positioned micro-locations of metropolitan
regions and medium-sized cities. With an active real estate asset
management KWG creates sustainable value and reduces the utility costs for
the tenants with a consequent enhancement of the portfolio's energy
efficiency. The corporation offers services along the entire value chain
comprising purchasing, construction management as well as property
management. With the combination of these measures KWG is able to reduce
its vacancy rates considerably and increases its revenue from rentals
providing an exceptionally high return on equity. Currently the portfolio
of KWG incorporates more than 5,400 residential and commercial properties.
The company's shares are listed in the Entry Standard of the Frankfurt
Stock Exchange.
Contact
KWG Kommunale Wohnen AG
Jan Hutterer, Head of Investor Relations
Alstertor 9
20095 Hamburg
Germany
Tel. +49 40 226 30 88 140
Fax: +49 40 226 30 88 240
E-Mail: hutterer(at)kwg-ag.de
www.kwg-ag.com
KWG Kommunale Wohnen AG
ISIN: DE0005227342
WKN: 522734
End of Corporate News
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01.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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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
Germany
Phone: 040 22 63 088 100
Fax: 040 22 63 088 200
E-mail: ir(at)kwg-ag.de
Internet: www.kwg-ag.de
ISIN: DE0005227342
WKN: 522734
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
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158847 01.03.2012
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Datum: 01.03.2012 - 07:50 Uhr
Sprache: Deutsch
News-ID 120416
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