DGAP-News: KWG Kommunale Wohnen AG: Preliminary numbers: Most successful H1 KWG AG's history
(firmenpresse) - DGAP-News: KWG Kommunale Wohnen AG / Key word(s): Real Estate
KWG Kommunale Wohnen AG: Preliminary numbers: Most successful H1 KWG
AG's history
31.07.2012 / 08:00
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- Group H1 2012 net result increased six times to approx. EUR 20 mn (last
year: EUR 3.4 mn)
- Group-FFO raised significantly to approx. EUR 1.2 mn (last year: EUR
0.2 mn)
- KWG stand-alone results underline positive operational development
Hamburg, 31 July 2012 - KWG Kommunale Wohnen AG, the long-term oriented
property holding company of German residential real estate, expects to post
the most successful first half year in the company's history. The
preliminary H1 2012 Group net result was raised by six times from EUR 3.4
mn to approx. EUR 20 mn. Net Cold Rent increased according to preliminary
numbers in H1 2012 by around 30 per cent vs. last year to around EUR 9.0
mn. Funds-from-Operations (FFO) increased significantly from EUR 0.2 mn to
around EUR 1.2 mn. Thus, the cash generation and profitability of KWG Group
have been improved considerably.
This dynamic development in results is i.a. based on the first time full
consolidation per 01 May 2012 of Barmer Wohnungsbau AG, in which KWG has
secured a controlling stake. The consolidation of Barmer Wohnungsbau AG is
expected to contribute approx. EUR 13 mn to the Group's H1 net result and
approx. EUR 0.2 mn to the Group's FFO. However, KWG AG also records
significant improvements of all relevant metrics excluding the
consolidation of Barmer Wohnungsbau AG in a like-for-like comparison vs.
last year.
Compared like-for-like KWG AG improved its H1 2012 Revenues that represent
Gross Rental Income from EUR 10.1 mn to almost EUR 12 mn. At the same time
income from Net Cold Rent increased over-proportionally by almost 20 per
cent to around EUR 8 mn. The Net Result of more than EUR 7 mn was doubled
vs. last year (last year: EUR 3.4 mn). Particularly satisfactory is the FFO
development which improved by more than four times from previous year's EUR
0.2 mn to almost EUR 1 mn.
The positive development is primarily a result of the company's own
portfolio's successful optimisation. I.a. the actual Net Cold Rent per sqm
was increased from EUR 4.83 to EUR 5.05. The net result from the fair value
measurement of investment property which improved from EUR 3.1 mn per 30
June 2011 to approx. EUR 7 mn per 30 June 2012 reflects the portfolio's
improved cash generation and quality. The Group's investment property was
valued at approx. EUR 754/sqm per 30 June 2011.
Final H1 2012 numbers for the entire KWG Group will be published according
to schedule on Tuesday, 14 Aug 2012.
About KWG AG
KWG Kommunale Wohnen AG is a long-term oriented owner and operator of
German residential real estate units. The company acquires residential real
estate portfolios at attractive conditions in promising micro-locations of
metropolitan regions and German regional centres and sustainably increases
their value through an active real estate asset management. By
refurbishments to high energy efficiency standards incidental costs for
tenants are being lowered. KWG AG covers the complete value chain from
acquisitions to construction management and its own internal property
management. As a result vacancies are being reduced and income from net
cold rent is being increased. This leads to value enhancements of the
properties, above average Returns on Equity and profitability. KWG's shares
are listed in the Entry Standard of the Frankfurt Stock Exchange.
Contact
KWG Kommunale Wohnen AG
Jan Hutterer
Alstertor 9
20095 Hamburg
Germany
F. +49 (0)40 2263088-100
eMail: ir(at)kwg-ag.de
End of Corporate News
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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, Düsseldorf, Hamburg, Hannover,
München, Stuttgart; Open Market (Entry Standard) in
Frankfurt
End of News DGAP News-Service
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179651 31.07.2012
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Datum: 31.07.2012 - 08:00 Uhr
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