DGAP-News: HAMBORNER REIT AG: Excellent business performance - Forecast raised for year as a whole
(firmenpresse) - DGAP-News: HAMBORNER REIT AG / Key word(s): Quarter Results/Interim
Report
HAMBORNER REIT AG: Excellent business performance - Forecast raised
for year as a whole
08.11.2012 / 07:00
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Press Release
HAMBORNER REIT AG: Excellent business performance - Forecast raised for
year as a whole
- Rental and leasing income up 17%, FFO up 21% after first nine months
- Advised investment projects fully implemented
- Significant increases in rent and FFO forecast for 2012 financial year
Duisburg, 8 October 2012 - HAMBORNER REIT AG today presented its report for
the third quarter of 2012 and has had a successful first nine months. As at
30 September 2012, rental and leasing income increased by around 17% as
against the same period of the previous year to EUR27 million. In
particular, this rise was due to the property acquisitions of 2011 and the
addition of the OBI store in Aachen in April 2012. Like-for-like rental
income climbed by around 0.9%. The vacancy rate is still at an extremely
low level of 1.8%. Net income for period amounted to EUR5.8 million as at
30 September 2012 (previous year: EUR5.5 million). FFO, which describes the
operating result before depreciation and amortisation and not including
gains from disposals - and is also the company's key performance indicator
- amounted to EUR14.9 million as at the end of the reporting period
(previous year: EUR12.3 million). The REIT equity ratio is 67.4% and the
loan-to-value (LTV) ratio 27.1%.
As at the end of September, HAMBORNER held 67 properties with a total
volume of around EUR518 million. Furthermore, in the period from August to
the start of November, further purchase agreements were signed for an OBI
store in Hamburg, an E-Center in Tübingen, a retail and office property in
Karlsruhe and an office property in Berlin. These properties have a total
investment volume of around EUR110 million. Thus, the investment project
pipeline presented as part of the capital increase has been fully
implemented in just a short time. The E-Center in Tübingen was already
added to the company's books in October. The other properties are currently
undergoing construction or conversion and for the most part - like NuOffice
in Munich acquired last year - will be added to the HAMBORNER portfolio
over the course of 2013.
'We are delighted to have been able to implement our planned investments in
full under the currently favourable financing conditions, and to have done
so as quickly as promised,' said Managing Board member Hans Richard
Schmitz. Even though the newly acquired properties will mostly not
contribute to rental income for this year, the company is adjusting its
previous outlook for 2012 as a whole upwards. Board member Dr. Rüdiger
Mrotzek commented: 'We are now forecasting growth of around 13.5% in rental
and leasing income for the 2012 financial year, and that FFO will increase
by a similar percentage.'
HAMBORNER sold around 500,000 m²of undeveloped land in October. The sale
price was EUR1.6 million, the book profit EUR900 thousand.
Key figures as at 30 September 2012
Q3 2012 Q3 2011* Number of shares in Q3 2011: 34,120,000
Rental and leasing income EUR27.3 million EUR23.4
million
EBITDA EUR22.5 million EUR18.6
million
Earnings before depreciation and amortisation EUR14.9 million EUR13.1
(EBDA) million
Net profit for the period EUR5.8 million EUR5.5
million
Funds from operations (FFO), absolute EUR14.9 million EUR12.3
million
Funds from operations (FFO) per share * EUR0.33 EUR0.36
30 September 31 December
2012 2011
REIT equity ratio 67.4% 55.7%
Loan-to-value (LTV) 27.1% 39.1%
Net asset value (NAV) per share * EUR8.15 EUR8.77
Number of shares in Q3 2012: 45,493,333
About HAMBORNER REIT AG
HAMBORNER REIT AG is a stock exchange-listed public limited company that
today exclusively operates in the property sector and is positioned as a
portfolio holder for high-yielding commercial properties. The company has
sustainable rental incomes, with a nationally-dispersed substantial
property portfolio as its foundation. Attractive retail trade spaces in key
town centre sites of German cities and intermediate centres form the focal
point of the portfolio. In addition, the property portfolio includes
highly-frequented specialist stores and profitable office buildings, as
well as spaces for medical practices, apartments and parking spaces.
Furthermore, the company still has approximately 0.9 million m²of
undeveloped land areas, which are located predominantly in Duisburg North
and in the adjacent municipalities of Dinslaken and Hünxe.
HAMBORNER REIT AG stands out due to its many years of experience in the
property and capital market, its lean and transparent corporate structure
as well as its special proximity to the tenants. Since February 18, 2010
HAMBORNER has been a registered Real Estate Investment Trust (REIT) and
benefits at company level from exemption from corporation and trade tax.
Contact:
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 Corporate News
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Language: EnglishCompany: 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 News-Service
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