DGAP-News: HAMBORNER REIT AG: First quarter of 2013 positive as forecast
(firmenpresse) - DGAP-News: HAMBORNER REIT AG / Key word(s): Quarter
Results/Miscellaneous
HAMBORNER REIT AG: First quarter of 2013 positive as forecast
06.05.2013 / 07:00
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Press Release
HAMBORNER REIT AG: First quarter of 2013 positive as forecast
- Rental and leasing income up 21%
- FFO climbs 47%
- Portfolio value increases to EUR655 million
Duisburg, 6 May 2013 - HAMBORNER REIT AG has enjoyed a successful start to
operations in the 2013 financial year. Rental and leasing income for the
first three months rose by around 21% on the previous year's level to a
total of EUR10.9 million. The increase was essentially as a result of the
new investments performed last year and the addition of NuOffice in Munich
at the start of January and the object in Berlin at the beginning of March.
The vacancy rate is now at a relatively low level of 3.8%. The expansion as
against the previous year (1.8%) is due in particular to the recently
acquired and newly built properties in Munich and Berlin, which were not
yet fully let when transferred. However, there are multi-year rent
guarantees for these vacant areas. Taking these guarantees into account,
the vacancy rate as at 31 March 2013 was just 2.5%. In the first quarter,
HAMBORNER generated an operating result of around EUR6.1 million (previous
year: EUR4.4 million) and comprehensive income for the period of EUR3.7
million (previous year: EUR1.9 million).
Two new properties were transferred to us in the first quarter - NuOffice
in Munich and the office building on the EUREF Campus in Berlin. As at 31
March 2013, the fair value of the portfolio was therefore EUR655 million.
In April 2013, HAMBORNER also signed a purchase agreement for an office and
retail property in Bayreuth. The agreed purchase price is EUR18.5 million.
FFO for the first three months amounted to EUR7.1 million, a surge of
around 47% on the previous year's level. For 2013 as a whole, the Managing
Board is striving from growth in rental income of around 20% and intends to
increase FFO by the same degree. NAV amounted to EUR8.29 per share as at 31
March 2013 (EUR8.17 as at 31 December 2012). The company's financial
situation remains very comfortable. The REIT equity ratio is 55.1% and the
loan-to-value (LTV) ratio 40.0%.
The company's Annual General Meeting will be held tomorrow, Tuesday, 7 May
2013, in Mülheim an der Ruhr. Here it will be proposed to pay the
shareholders a dividend of EUR0.40 per share for the past 2012 financial
year.
Key figures as at 31 March 2013
31 Mar. 2013 31 Mar. 2012About HAMBORNER REIT AG
Rental and leasing income EUR10.9 EUR9.0
million million
EBITDA EUR10.3 EUR7.4
million million
Earnings before depreciation and amortisation EUR7.5 million EUR4.9
(EBDA) million
Comprehensive income for the period EUR3.7 million EUR1.9
million
Funds from operations (FFO), absolute EUR7.1 million EUR4.9million
Funds from operations (FFO) per share EUR0.16 EUR0.14
31 Mar. 2013 31 Dec. 2012
REIT equity ratio 55.1% 60.3%
Loan-to-value (LTV) 40.0% 34.2%
Net asset value (NAV) per share EUR8.29 EUR8.17
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.
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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