DGAP-News: HAMBORNER REIT AG: Provisional earnings figures confirm successful 2012 financial year
(firmenpresse) - DGAP-News: HAMBORNER REIT AG / Key word(s): Preliminary
Results/Dividend
HAMBORNER REIT AG: Provisional earnings figures confirm successful
2012 financial year
06.02.2013 / 08:00
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HAMBORNER REIT AG: Provisional earnings figures confirm successful 2012
financial year
- Rental and leasing income up around 15%
- Rise in operating result (FFO) of around 18%
- Dividend proposal: Dividend of 40 cents per share
Duisburg, 6 February 2013 - HAMBORNER REIT AG has again enjoyed a highly
successful financial year. 2012 was characterised largely by the company's
ongoing growth. In the past year, three properties in Aachen, Tübingen and
Karlsruhe were added to the company's books for around EUR75 million and
two purchase agreements for properties in Berlin and Hamburg worth a
further EUR50 million were also signed. This is also reflected in the
improved results as against the previous year.
According to provisional annual financial statement figures that have not
yet been audited, rental and leasing income again posted a double-digit
increase of around 15% to EUR37.0 million (previous year: EUR32.2 million).
This was primarily as a result of the new acquisitions in the past two
years. The average vacancy rate remained at an extremely low level of 1.9%
(1.7% including rent guarantees). The operating result was EUR17.5 million
after EUR14.9 million in the previous year. This rise of around 18% is due
in particular to the higher rental income.
EBIT amounted to EUR18.4 million, around 7% higher than in the previous
year (EUR17.1 million).
After deducting net financing costs and taxes, the net profit for the year
amounted to around EUR7.7 million, approximately matching the previous
year's figure (EUR7.9 million).
As a key indicator of operating performance and for the company's
controlling system, FFO (funds from operations) climbed significantly by
around 18% to EUR18.9 million (previous year: EUR16.0 million). FFO per
share as at 31 December 2012 amounted to EUR0.41 (previous year: EUR0.47).
The company's net asset value (NAV) per share is EUR8.17 (previous year:
EUR8.77 per share). HAMBORNER carried out a capital increase in July 2012
and raised its share capital to EUR45,493,333. As at 31 December 2012, the
greater number of shares was also reflected in the performance indicators
per share.
The company's financial position remains very healthy. Essentially as a
result of the capital increase, cash and cash equivalents rose by EUR10.6
million as against the previous year to EUR29.3 million. The loan-to-value
(LTV) ratio is 34.2% (previous year: 39.1%). The REIT equity ratio of 60.3%
is also still well in excess of the 45% required under the German REIT Act.
In light of the good business performance in 2012, the Managing Board
intends - subject to the approval of the Supervisory Board - to propose to
the Annual General Meeting on 7 May 2013 a consistent dividend of EUR0.40
per share despite the rise in the number of shares. Based on the price of
shares as at the end of the year of EUR7.48, this marks a dividend yield of
5.3%. The company will publish its final figures on 27 March 2013.
Overview of key figures 2012 2011 Change(**) Proposal to the AGM, subject to the approval of the Supervisory Board
preliminary
figures
Income from rents and leases EUR37.0 EUR32.2 +15%
million million
Operating profit EUR17.5 EUR14.9 +18%
million million
EBIT EUR18.4 EUR17.1 +7%
million million
Net profit for the year EUR7.7 EUR7.9 -2%
million million
REIT capital ratio 60.3% 55.7% +4.6%
percentage
points
Loan-to-value (LTV) 34.2% 39.1% -4.9
percentage
points
Funds from operations EUR18.9 EUR16.0 +18%
million million
Funds from operations (FFO) per share* EUR0.41 EUR0.47
Net asset value (NAV) EUR371.8 EUR299.3 +24%
million million
Net asset value (NAV) per share* EUR8.17 EUR8.77 -6.8%
Dividend per share (**) EUR0.40 EUR0.40 +/-0%
(*) 31 Dec. 2011: 34,120,000 shares
31 Dec. 2012: 45,493,333 shares
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: 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 News-Service
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