DGAP-News: HCI Capital AG: HCI Capital AG starts second quarter with new funds
(firmenpresse) - DGAP-News: HCI Capital AG / Key word(s): Quarter Results
HCI Capital AG: HCI Capital AG starts second quarter with new funds
11.05.2011 / 08:29
---------------------------------------------------------------------
HCI Capital AG starts second quarter with new funds
* Roughly EUR 21 million invested in HCI funds in the first quarter of 2011
* Operating result as of 31 March 2011 nearly break-even
* New products with a placement volume of around EUR 50 million launched in
the second quarter
Hamburg, 11 May 2011 - HCI Capital AG, one of the leading issuing houses
for closed-end funds, generated investments of about EUR 21 million in HCI
funds in the first quarter of 2011. Although the overall market environment
remained weak and new business was comparatively slow, the HCI Group nearly
broke even, with earnings before interest and taxes (EBIT) of EUR -0.4
million. With the products currently in the market, HCI Berlin Airport
Center and HCI JPO Leo, the HCI Group expects new business to pick up
significantly in the second quarter.
Despite an improvement of the overall economy, the market for closed-end
funds was still subdued in the first three months of 2011. The range of new
fund products and the equity capital volumes committed by investors were in
some cases well below last year's figures for the market as a whole. This
trend was also reflected in the performance figures for the HCI Group:
Equity capital committed to HCI funds by investors in the first quarter of
2011 came to around EUR 21.3 million. As planned, HCI brought larger new
fund offerings to market in the second quarter of 2011. The need for equity
capital investments in existing funds was also considerably lower than in
the same period last year.
Ships remain HCI's strongest asset class
With equity capital placed of around EUR 12 million, the Ship product area
remains the strongest asset class in the HCI Group in terms of new
business. In mid-April HCI was able to close the fully placed ship fund HCI
Kilian S with an equity capital volume of around EUR 10 million. In the
Real Estate product area HCI has one fund in the market, HCI Wohnkonzept
Hamburg, for which EUR 0.7 million was raised in the first quarter.
Revenues for the HCI Group in the first quarter of 2011 amounted to EUR 8.8
million, with gross profit of EUR 7.6 million. The consolidated net result
after tax came to EUR -1.7 million.
HCI safeguards investors' interests - Beluga crisis successfully managed
In line with the market for closed-end funds as a whole, HCI Group's
operating business was still dominated by the active management of existing
funds. An encouraging development is now also visible: 'As the markets
continue to recover, particularly the market for container ships, the need
to safeguard existing funds is considerably declining. Investments in
existing funds fell by more than half compared with the same quarter last
year to around EUR 8.8 million,' explained Dr. Ralf Friedrichs, Chairman of
the Management Board of HCI Capital AG.
There are still challenges, however, such as the insolvency of the Beluga
Group in March 2011. HCI took swift action in this critical situation and
successfully implemented a package of measures to safeguard investors'
interests. 'All the contracts were terminated in time and the operation of
the ships was transferred immediately to HAMMONIA Reederei. This is a clear
demonstration of HCI Group's management competence,' added Dr. Friedrichs.
All ships will remain in operation as a result. HCI also set the stage for
stable employment perspectives of the funds by means of a newly established
revenue and cargo pool, with Peter Döhle Schiffahrts-KG as the pool
manager.
HCI starts second quarter with new products
The new real estate fund HCI Berlin Airport Center has been launched in
mid-April, with a placement volume of around EUR 30 million. With a
multi-tenant office property in a prime location at the new Berlin airport
this fund is unique in the current market environment and, as expected,
generated a positive response. Since early May HCI has also been the first
issuing house to return to the market with a container ship, the HCI JPO
Leo. The placement volume of this premium investment is around EUR 20
million. 'These new products should also contribute to a sharp improvement
in our placement figures within the first half of 2011,' commented Dr.
Friedrichs.
About HCI:
Established in 1985, the HCI Group creates closed-end funds and investments
with a capital guarantee in the areas of Ships, Real Estate and Energy.
Since it was established, the HCI Group has realised a total investment
volume of some EUR 15 billion with equity capital of approximately EUR 6
billion invested in 517 issues (as of 31 March 2011). HCI currently has
around 122,600 clients, making it one of Germany's leading issuing houses.
HCI Capital AG has been listed on the stock exchange since October 2005.
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
---------------------------------------------------------------------
11.05.2011 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: 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
---------------------------------------------------------------------
123962 11.05.2011
Datum: 11.05.2011 - 08:29 Uhr
Sprache: Deutsch
News-ID 34027
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 200 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: HCI Capital AG: HCI Capital AG starts second quarter with new funds"
steht unter der journalistisch-redaktionellen Verantwortung von
HCI Capital AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
