DGAP-News: KWG Kommunale Wohnen AG: Provisional figures show KWG quadrupled profit in 2009
(firmenpresse) - KWG Kommunale Wohnen AG / Preliminary Results
14.04.2010 07:54
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- Group net income rose from 0.8 to 3.3 million euros
- Turnover up from 13.7 to 19.8 million euros
- Capital ratio at the end of 2009 a very comfortable 34.5 %
- Continuation of profitable growth expected for 2010
Hamburg - 14th April 2010 - According to provisional figures, KWG Kommunale
Wohnen AG, a company that owns a portfolio of German apartments with a
long-term perspective, quadrupled its IFRS Group net income in the 2009
business year, from 0.8 million euros (2008) to 3.3 million euros. With
this result KWG exceeded expectations, which were assuming net income in
the region of 2.5 million euros. The company's turnover, which consists
exclusively of rental income, showed a further increase in 2009, from 13.7
to 19.8 million euros. EBIT rose to 9.1 million euros (2008: 5.4 million
euros).
Group equity rose to 64.7 million euros as at 31st December 2009, a
substantial increase from the previous year's level of 56.1 million euros.
This meant that the capital ratio went up to a very comfortable 34.5 %, as
against 30.5% at the end of 2008.
Notwithstanding the still challenging market conditions, KWG expects to
continue its profitable growth in 2010.
Contact:
KWG Kommunale Wohnen AG
Jutta Rehfeld
Alstertor 9
20095 Hamburg
Tel.: 040/2263088-140
eMail: rehfeld(at)kwg-ag.de
edicto GmbH
Axel Mühlhaus
Zeißelstraße 19
60318 Frankfurt a. M.
Tel.: 069/ 9055055-0
eMail: amuehlhaus(at)edicto.de
14.04.2010 07:54 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
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(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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Datum: 14.04.2010 - 07:54 Uhr
Sprache: Deutsch
News-ID 18985
Anzahl Zeichen: 0
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Kategorie:
Business News
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