DGAP-News: KWG Kommunale Wohnen AG appoints new Director of Finance
(firmenpresse) - KWG Kommunale Wohnen AG / Change of Personnel/Final Results
18.05.2010 07:55
Dissemination of a Corporate News, transmitted by
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The issuer / publisher is solely responsible for the content of this announcement.
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KWG Kommunale Wohnen AG appoints new Director of Finance
Hamburg - 18th May 2010 -KWG Kommunale Wohnen AG, long-term owner of a
portfolio of German apartment buildings, has added an experienced financial
expert to its Board of Directors. The Supervisory Board has appointed
Torsten P. Hoffmann (48) as Director of Finance. Mr Hoffmann has many years
of experience in the fields of corporate accounting, finance and
controlling. He is currently director of finance with the listed company
Deutsche Real Estate AG. Torsten P. Hoffmann will be joining the KWG team
on 15th June 2010.
The reinforcement will reduce the workload of Stavros Efremidis (41), who
was hitherto sole director of the company. Mr Efremidis, whose contract as
a director has been extended for another three years, will thus be able to
devote more attention to the company's real estate operations. Stavros
Efremidis has nearly 20 years' experience in the real estate industry, and
in the future he will be responsible at KWG for corporate strategy, the
operative property business and asset management.
In addition, KWG has now confirmed its provisional figures for the business
year 2009. The final, certified figures show that the company more than
quadrupled its Group net income according to IFRS from 800,000 euros in
2008 to 3.3 million euros in 2009. Company turnover, which consists solely
of rental income, rose from 13.7 million euros in 2008 to 19.8 million
euros in 2009.
Despite the market conditions, which remain challenging, KWG expects
continued profitable growth in 2010.
18.05.2010 07:55 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: 18.05.2010 - 07:55 Uhr
Sprache: Deutsch
News-ID 21021
Anzahl Zeichen: 0
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Kategorie:
Business News
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