DGAP-News: HCI Capital AG: HCI Capital AG achieves clearly positive consolidated net result in 2010
(firmenpresse) - DGAP-News: HCI Capital AG / Key word(s): Final Results
HCI Capital AG: HCI Capital AG achieves clearly positive consolidated
net result in 2010
28.03.2011 / 08:02
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HCI Capital AG achieves clearly positive consolidated net result in 2010
* Consolidated net result climbs to EUR 5.0 million
* Consolidated equity rises to EUR 46.1 million (43.4%)
* Product offensive started in 2011
Hamburg, 28 March 2011 - HCI Capital AG, one of the leading issuing houses
for closed-end funds, achieved a clearly positive consolidated net result
in 2010 of about EUR 5.0 million. This was mainly based on the successful
financial reorganisation of the HCI Group.
The HCI Group has significantly strengthened the Company's capital base by
converting bank debts into equity. As of 31 December 2010, HCI increased
its equity from EUR 33.1 million (31 December 2009) to EUR 46.1 million.
The equity ratio rose considerably as a result, from 29.4% to 43.4%. In
addition to this, the HCI Group reduced its contingent liabilities by more
than EUR 1.6 billion to around EUR 43 million as of 31 December 2010.
In the HCI Group's operating business, stable revenues from After-Sales
Services and earnings from new business had a positive effect on the result
in 2010. Gross profit rose to EUR 31.0 million (previous year: EUR 30.3
million), with a significantly improved margin of 84.2% (previous year:
66.6%). The HCI Group's 2010 earnings before interests and taxes (EBIT)
were also up on the previous year. The figure increased by EUR 22.5 million
to EUR -1.8 million, in part due to positive developments in the Group's
investments.
Reorganisation delivers sound key financial figures
The overall results can be attributed to the financial reorganisation of
the HCI Group. The debt-equity swap carried out in August 2010 generated
substantial earnings which far outweighed the expenses incurred from the
release from contingent liabilities and thus led to a positive financial
result of EUR 6.2 million. Compared with last year, the HCI Group
significantly improved its profit for 2010. The Company posted a
consolidated net result after tax as of 31 December 2010 of EUR 5.0
million, which represents a rise of around EUR 60.8 million on the previous
year's figure (EUR -55.8 million).
Focus on ship and real estate investments
'2010 was the year in which the HCI Group set a new course for the future.
By obtaining a release from contingent liabilities and sustainably
strengthening our equity base we have successfully completed a broad
financial reorganisation of the HCI Group,' explains Dr. Ralf Friedrichs,
Chairman of the Management Board of HCI Capital AG. 'Our strategy now is to
focus our business even more on our core competences.'
HCI's product range in 2011 will centre on the asset classes Ship and Real
Estate. Container shipping markets in particular are benefiting more than
others from the rapid recovery of the global economy. HCI is therefore
planning to introduce several new ship funds in this segment. The first
container ship fund, the 3,100 TEU ship HCI JPO Leo, is expected to be
marketed in the second quarter 2011.
In addition to this, HCI will also expand its array of real estate products
in 2011. The start of the second quarter will see the market launch of HCI
Berlin Airport Center, an multi tenant office buildingat Berlin's new
airport, BBI. Further projects for real estate funds are also planned.
As well as offering attractive products, HCI is enhancing its sales
activities and investor assistance services: 'Our regional sales network
and the professional assistance provided by HCI Treuhand ensure that we
remain close to our investors and business partners,' emphasises
Friedrichs. 'Our strength here will be an important part of our success in
2011.'
Contact:
HCI Capital AG
Dr. Olaf Streuer
Head of Corporate Communication / Business Development
Tel: +49 40 88 88 1 1100
olaf.streuer(at)hci-capital.de
End of Corporate News
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28.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: HCI Capital AG
Burchardstraße 8
20095 Hamburg
Deutschland
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-199
E-mail: ir(at)hci-capital.de
Internet: www.hci-capital.de
ISIN: DE000A0D9Y97, DE000A1EWVW2
WKN: A0D9Y9, A1E WVW
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, Hannover, München,
Stuttgart
End of News DGAP News-Service
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117143 28.03.2011
Datum: 28.03.2011 - 08:02 Uhr
Sprache: Deutsch
News-ID 33600
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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