DGAP-News: HAHN-Immobilien-Beteiligungs AG: Fiscal year 2012: good business performance confirms upward trend for Hahn AG
(firmenpresse) - DGAP-News: HAHN-Immobilien-Beteiligungs AG / Key word(s): Final
Results
HAHN-Immobilien-Beteiligungs AG: Fiscal year 2012: good business
performance confirms upward trend for Hahn AG
28.03.2013 / 08:01
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PRESS RELEASE
Fiscal year 2012: good business performance confirms upward trend for Hahn
AG
- Equity collected in private and institutional fund business up by 57
percent to EUR 88 million
- Management income increases by 13.4 percent to EUR 9.2 million
- Consolidated profit after tax: EUR 2.62 million (previous year: EUR
1.04 million)
- Equity climbs 13.8% to EUR 29.8 million
- Full-year outlook: Positive results at previous year's level
Bergisch Gladbach, March, 28 2013 - In a stable economic environment the
Hahn Group closed out a successful fiscal year, with the Group's
profitability further strengthened year-on-year. This consolidated the
upward trend the Group has been recording with its earnings development
since 2010.
Michael Hahn, Chairman of the Board of Management: 'The fiscal year was
very satisfactory. We recorded consistently high investment demand, above
all from institutional investors, which we managed to meet with numerous
fund subscriptions and a new joint venture. The Company is equally well
positioned in the current fiscal year following the successful streamlining
of the Group's structures and the further optimization of business
processes.'
In the preceding fiscal year the Hahn Group collected equity of around EUR
88 million from private and institutional investors, which is a 57 percent
increase on the year before (previous year: EUR 56 million).
- Equity collected from institutional clients in 2012 amounted to EUR 60
million, which were subscription orders for the Luxembourg fund HAHN
FCP-FIS German Retail Fund. At the end of the year HAHN FCP held gross
fund assets of EUR 429 million. As of reporting day the total equity
subscribed rose to EUR 261.5 million (previous year: EUR 201.5
million).
- In business with private clients, equity of EUR 28 million was
collected through public funds and private placements (previous year
EUR 35 million). Two closed-end real estate funds, one public fund and
one private placement, were newly issued in the year under review.
In the fourth quarter of 2012 Hahn AG and a German real estate company
founded a joint venture by the name of 'RREBO'. The joint venture acquired
a value-add portfolio comprising 16 retail properties with an investment
volume of EUR 137 million. The joint venture partner contributed 50 percent
of the equity required. The Hahn Group had been managing the properties
already before their acquisition. RREBO constitutes an important milestone
in the company's development. In future, income generated from investments
will be an integral part of the operative business and will be recognized
in a third Group unit entitled 'Investments'.
The real estate assets held by the Hahn Group under management rose to EUR
2.30 billion (previous year: EUR 2.25 billion) Given the continued high
demand for space in the retail sector, the Hahn Group was able to increase
its take-up by 35 percent to around 136,000 m²(previous year: 101,000 m²).
Per reporting date the occupancy ratio on the property portfolio also
improved year-on-year from 97.9 percent to 98.4 percent.
2012 business performance in figures
Due to lower transaction sales and non-recurring income, the proceeds from
the disposal and brokerage of real estate declined year-on-year to EUR 3.14
million (previous year: EUR 7.43 million). The sustainable management
income, on the other hand, rose by a gratifying 13.6 percent to EUR 9.2
million. The shares of profit and loss in associated companies and joint
venture also developed positively. At EUR 3.11 million (previous year: EUR
-0.29 million) the generated income was mainly attributable to the initial
consolidation of real estate investments.
Consolidated gross income improved by 9.3 percent to EUR 17.7 million.
Personnel expenses amounted to EUR 6.3 million (previous year: EUR 6.5
million). Unlike in the previous year there were no extraordinary expenses.
Other operating expenses increased from EUR 6.0 million to EUR 7.1 million,
which is due, among other things, to higher legal and consulting costs that
were incurred in connection with the acquisition of the properties for the
RREBO joint venture.
Net finance expenses came to EUR -2.3 million (previous year: EUR -1.7
million). Concurrent with higher interest expenses was also a lengthening
of total liabilities and shareholders' equity. As last year's reporting
period had included corporate tax expenses from the placement of a fund and
fiscal 2012 recognized positive tax effects, income taxes of EUR +0.9
million were better than the previous year's figure of EUR -0.7 million.
Consolidated profit after taxes was EUR 2.6 million, which brought earnings
per share to EUR 0.20 (previous year: EUR 0.08)
Total assets as of December 31, 2012 increased year-on-year by 26.7 percent
to EUR 97.9 million. Due to this increase the equity ratio as of reporting
date came to 30.5 percent (previous year 33.9 percent). The successful
placement of a corporate bond in the amount of EUR 20 million in the second
half of the year additionally improved the company's capital structure and
made it more independent from banks.
Outlook
Hahn AG expects the positive environment for real estate investments to
remain unchanged in 2013. In its business with institutional clients the
Hahn Group intends to profit from stronger demand for indirect real estate
investments and externally managed property portfolios. Said Thomas
Kuhlmann: 'As asset manager specializing in retail real estate, we provide
our investors with the crucial added-value across all risk categories for a
successful long-term investment in a dynamic market. We are registering
increasing demand for our type of services.'
In the business with private customers the aim is to increase the placement
performance. Michael Hahn: 'We expect the impending regulation with the
AIFM Directive to bring back demand from private customers for top-quality
property investments. Moreover, we want to expand the segment for
individually tailored private placements and clubdeals.'
Despite the difficult conditions on the financial and capital markets, the
Hahn Group expects consolidated earnings to be as good in fiscal year 2013
as in the preceding year and expects an after-tax profit in the range
between EUR 2 and 3 million.
The complete 2012 Annual Report is available on the Internet at:
www.hahnag.de
Hahn Group
The Hahn Group has been a leading asset manager in retail real estate since
1982. It develops fund products for private and institutional investors and
manages external real estate portfolios. The Hahn Group manages assets in
excess of about Euro 2.3 billion. With the experience gained from the issue
of about 170 closed-end real estate funds and institutional fund products,
the Hahn Group aims for a high degree of investment security and strong
returns on investment. Its comprehensive management services develop the
full return potential of real estate and thus maximize value-added for its
investors. The Hahn Group is listed on all German stock exchanges. Further
information is available at: www.hahnag.de.
Contact informationHahn Group
Marc Weisener
Investor and Press Relations
Buddestrasse 14
51429 Bergisch Gladbach
Phone: 02204-94 90-118
Fax: 02204-94 90-139
Email: mweisener(at)hahnag.de
End of Corporate News
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Language: English
Company: HAHN-Immobilien-Beteiligungs AG
Buddestrasse 14
51429 Bergisch Gladbach
Germany
Phone: +49 (0)2204 9490-118
Fax: +49 (0)2204 9490-139
E-mail: mweisener(at)hahnag.de
Internet: www.hahnag.de
ISIN: DE0006006703, DE000A1EWNF4
WKN: 600670, A1EWNF
Listed: Regulierter Markt in Frankfurt; Freiverkehr in Berlin,
Düsseldorf (Mittelstandsmarkt), Hamburg, München,
Stuttgart
End of News DGAP News-Service
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Datum: 28.03.2013 - 08:01 Uhr
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