HAMBORNER REIT AG: Q1 2012 - operating performance positive as anticipated
(firmenpresse) - HAMBORNER REIT AG / Key word(s): Enterprise/
HAMBORNER REIT AG: Q1 2012 - operating performance positive as
anticipated
DGAP-Media / 10.05.2012 / 07:00
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Press Release
HAMBORNER REIT AG: Q1 2012 - operating performance positive as
anticipated
- Rental and leasing income up around 27%
- FFO increases around 22%
- Shares listed in EPRA Index
Duisburg, 10 May 2012 - HAMBORNER REIT AG has enjoyed a successful start to
operations in the 2012 financial year. Rental and leasing income for the
first three months rose by around 27% on the previous year's level to a
total of approximately EUR9.0 million. This increase is essentially due to
new investments in the past year, though rents were also up 1.1% as against
the same quarter of the previous year on a like-for-like basis. The vacancy
rate is still at an extremely low level of around 1.8%. In the first
quarter, HAMBORNER generated an operating result of around EUR4.4 million
(previous year: EUR3.3 million) and net income for the period of around
EUR1.9 million (previous year: EUR1.7 million).
The three commercial properties in Erfurt that were no longer consistent
with the strategy were sold in the first quarter. The property in Geldern
that was previously a leasehold property was acquired. As at 31 March 2012,
the market value of the portfolio was therefore around EUR502 million.
Including the OBI DIY store transferred to HAMBORNERs ownership in April
2012, the market value is now around EUR518 million. FFO for the first
three months amounted to around EUR4.9 million. The figure is therefore up
around 22% on the previous year's level. For 2012 as a whole, the Managing
Board is aiming for growth in rental income of around 10% and intends to
increase FFO by 5-10%. NAV amounted to EUR8.92 per share as at 31 March
2012 (31 December 2011: EUR8.77). The company's financial situation remains
highly solid and comfortable. The REIT equity ratio is 56.8% and the
loan-to-value (LTV) ratio 37.6%.
The shares of HAMBORNER REIT AG were added to the EPRA Index on 19 March
2012. EPRA is an organisation based in Brussels that represents the
interests of the major European property companies to the public and
supports the development and market presence of the European property
corporations. The most important property companies in Europe are
represented in its FTSE EPRA/NAREIT Developed Europe index.
The Annual General Meeting of the company will be held on 15 April 2012 in
Mülheim an der Ruhr. A dividend of 40 cents per share for the past 2011
financial year will be proposed to the shareholders here. This marks an
increase of around 8% as against the previous year.
Key figures as at 31 March 2012
31 March 2012 31 March 2011About HAMBORNER REIT AG
Income from rents and leases EUR9.0 EUR7.0 million
million
EBITDA EUR7.4 EUR5.5 million
million
Earnings before depreciation and amortisation EUR4.9 EUR4.0 million
(EBDA) million
Net income for the period EUR1.9 EUR1.7 million
million
Funds from operations (FFO), absolute EUR4.9 EUR4.0 million
million
Funds from operations (FFO) per share EUR0.14 EUR0.12
31 March 2012 31 December
2011
REIT equity ratio 56.8% 55.7%
Loan-to-value (LTV) 37.6 39.1%
Net asset value (NAV) per share** EUR8.92 EUR8.77
HAMBORNER REIT AG is a listed corporation in the form of a Real Estate
Investment Trust (REIT) operating in the real estate sector and is
positioned as a portfolio holder for high-yielding commercial properties.
The Company holds an attractive diversified property portfolio which
consists mainly of large-scale retail properties in busy areas, commercial
buildings in prime locations (so-called high-street-objects) and high
quality office buildings in well-established office locations. Despite the
historic regional focus in North Rhine-Westphalia the portfolio includes
properties across Germany which have high occupancy rates compared to
market standards, yielding sustainable rental incomes.
HAMBORNER REIT AG stands out due to extensive experience in the German real
estate market and the acquisition and managing of commercial properties as
well as long-standing capital market expertise. The Company has a balanced
tenant structure with comparatively low vacancy rates and long-standing
business relationships with its tenants. HAMBORNER can build on a sound
financial structure and has currently comparatively low financing costs and
benefits from advantages of the REIT-status, such as exemption from
corporation and trade tax. In addition, the Company shows a lean and
efficient corporate structure.
Investor Relations:
Sybille Schlinge
Tel.: +49 (0)203 54405-32
Fax: +49 (0)203 54405-49
e-mail: s.schlinge(at)hamborner.de
Web: www.hamborner.de
End of Media Release
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Language: English
Company: HAMBORNER REIT AG
Goethestraße 45
47166 Duisburg
Germany
Phone: 0203/54405-0
Fax: 0203/54405-49
E-mail: info(at)hamborner.de
Internet: www.hamborner.de
ISIN: DE0006013006
WKN: 601300
Indices: SDAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München, Stuttgart
End of News DGAP-Media
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