DGAP-News: PATRIZIA Immobilien AG: PATRIZIA increases sales figures by 91 % in 2010
(firmenpresse) - DGAP-News: PATRIZIA Immobilien AG / Key word(s):
Disposal/Miscellaneous
PATRIZIA Immobilien AG: PATRIZIA increases sales figures by 91 % in
2010
18.01.2011 / 07:28
---------------------------------------------------------------------
PATRIZIA increases sales figures by 91 % in 2010
- 801 apartments privatized, up 22 % on previous year
- Block sales rise substantially to 1,002 units
- Three project developments concluded and sold successfully
- Final acquisition of LB Immo Invest GmbH completed
Augsburg, January 18, 2011. In fiscal 2010, PATRIZIA Immobilien AG (ISIN
DE000PAT1AG3) privatized a total of 797 residential units and 4 commercial
units. This represents a 22 % increase as against the previous year, when
657 units were sold individually to tenants, owner-occupiers and private
investors. 196 units were sold in the fourth quarter of 2010, meaning that
our forecast predicting approximately 180 units for the period from October
to December was exceeded. The average sale price was EUR 2,169 per sqm in
the fourth quarter and EUR 2,370 per sqm in the year as a whole - slightly
higher than the previous year's level of EUR 2,351 per sqm. Private
investors once again formed the largest buyer group at 67.9 % (year as a
whole: 67.2 %).
In December, further block sales of 335 residential units and 2 commercial
units were realized. At 300 units, the majority of these were sold in the
Hamburg region, with the other 37 units located in Berlin. In total, four
properties of between 37 and 155 units were sold for EUR 29.1 million. The
purchase price revenues were recognized in income already in December 2010.
Two of the properties were recognized under investment property and sold
above fair value. In the fourth quarter, sales of another 285 units in
Leipzig, Frankfurt and Munich for which we had already published the
notarization in previous quarters were recognized in income.
Therefore, in 2010 as a whole PATRIZIA sold 1,002 units en bloc to
institutional investors and family offices - a significant upturn as
compared to the previous year when, due to the continuing effects of the
financial markets crisis, only 289 units were sold en bloc. Here the sale
price per square meter averaged EUR 1,625 (previous year: EUR 2,177). This
price per square meter is due to the fact that some of the properties sold
in the fourth quarter in Leipzig, Frankfurt and the Hamburg region were
sold without major renovation measures having been carried out.
In total, 1,803 units were sold in 2010 via the two sales channels of
residential property resale and block sales - a 90.6 % increase as against
2009 (946 units).
In addition, three project developments were completed and sold in fiscal
2010. The total of 41 apartments in the new construction projects Am
Schwalbeneck (Augsburg) and Casa Verde (Herthastrasse, Munich) were sold
individually, while the mixed-use property Isartor-Palais (Zwingerstrasse,
Munich) was sold en bloc to an institutional investor.
The sales mentioned above were already included in the forecast issued for
fiscal 2010 of an operating profit of EUR 12-13 million. The cash inflows
were used predominantly to repay the bank loans, which fell from EUR 932
million to less than EUR 840 million in the fourth quarter of 2010. Over
the course of the year, liabilities to banks decreased by roughly EUR 230
million or more than 20 %.
The acquisition of 94.9 %of the shares in the investment company LB Immo
Invest GmbH, which we published with the signing of the purchase agreement
on December 9, 2010, was completed in full as of January 3, 2011. LB Immo
Invest GmbH will be fully consolidated in the 2011 consolidated financial
statements. We expect the integration to make a contribution to earnings
(EBT) of EUR 3.5 million in the current fiscal year and EUR 5.0 million in
2012.
Augsburg, January 18, 2011
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Germany
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
WKN: PAT1AG
Contact:
Investor Relations
Margit Miller
Tel.: +49(0)821 5 09 10-369
Fax: +49(0)821 5 09 10-399
investor.relations(at)patrizia.ag
Press
Andreas Menke
Tel.: +49 (0) 821 5 09 10-655
Fax: +49 (0) 821 5 09 10-695
presse(at)patrizia.ag
End of Corporate News
---------------------------------------------------------------------
18.01.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: PATRIZIA Immobilien AG
Fuggerstraße 26
86150 Augsburg
Deutschland
Phone: +49 (0)821 - 509 10-000
Fax: +49 (0)821 - 509 10-999
E-mail: investor.relations(at)patrizia.ag
Internet: www.patrizia.ag
ISIN: DE000PAT1AG3
WKN: PAT1AG
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
109228 18.01.2011
Datum: 18.01.2011 - 07:28 Uhr
Sprache: Deutsch
News-ID 33009
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 225 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: PATRIZIA Immobilien AG: PATRIZIA increases sales figures by 91 % in 2010"
steht unter der journalistisch-redaktionellen Verantwortung von
PATRIZIA Immobilien AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
