DGAP-News: GWB is focused on project development
(firmenpresse) - DGAP-News: GWB Immobilien AG / Key word(s): Final Results
GWB is focused on project development
23.05.2011 / 09:20
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- Sales increased slightly to EUR 21.3 million
- EBIT at EUR 0.7 million
- Residential property expected to be another key area of activity
Hamburg, May 23, 2011. GWB once again faced a number of challenges in 2010.
However, Group sales increased slightly over the previous year based on the
sale of a property from the portfolio and the operating result also
improved to EUR 0.7 million. To ensure liquidity, in March 2010 the Company
carried out a capital increase, which resulted in an inflow of around EUR 1
million from the gross issue proceeds.
GWB sales totaled EUR 21.3 million for the 2010 fiscal year. This was an
increase of EUR 0.9 million over the previous year on proceeds of EUR 12.4
million from the sale of the Wuppertal property. Income from sales includes
rental income of about EUR 7.6 million (previous year: approx. EUR 8.9
million). Net income for 2010 totaled EUR -2.9 million (previous year: EUR
-8.9 million). The operating result (EBIT) improved to EUR 0.7 million from
EUR -7.2 million the previous year.
'Fortunately we succeeded in financially securing the largest project in
our company's history, the POSTGALERIE SPEYER, through new partnerships
with financially solid companies. Construction has already begun. In
addition, we sold the project company of the Bremerhaven property that is
under construction. We will now complete the work on the property as
planned, on a fee basis,' says Dr. Norbert Herrmann, Chairman of GWB
Immobilien AG. 'Despite this, 2010 did not bring the results that we had
sought. The loss of two key investors in 2009 continues to have an effect.'
GWB intends to continue to strengthen its focus on project development and
subsequently selling new projects. Activities will again be focused on the
development of smaller shopping centers. Smaller and mid-sized cities, in
particular, still have a great deal of potential. We will continue to
increase cooperation with investors to secure the financing of new
projects.
In addition, the Board of GWB intends to tap the fast-growing sector of
residential property as an additional mainstay, and an acquisition may be
considered in this context. The development of the new 'health centers'
segment has already proved promising; after the successful planning and
construction of the Lübeck Travemünde Clinic and the Medical and
Rehabilitation Centre in Bremerhaven, other projects in Wolfsburg and
Heppenheim will soon follow.
About GWB Immobilien AG
GWB is listed in the Prime Standard at Frankfurt Stock Exchange. Over a
period of more than 15 years, the GWB corporate group has developed into a
specialist for the implementation of large retail projects and for the
revitalisation of retail properties. The focus is on medium-sized towns and
suburban areas. The strength of the GWB business model is that the company
acts as a single, integrated source for the provision of all the necessary
services, covering the entire supply chain from project development and
construction to marketing and management. More than 40 projects have been
completed successfully.
Further information is available on the company website
www.GWB-Immobilien.de.
Press inquiries:
Kirchhoff Consult AG, Janina Wismar
Phone: +49 (0) 40 60 91 86-50, janina.wismar(at)kirchhoff.de
End of Corporate News
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Language: English
Company: GWB Immobilien AG
Hauptstraße 1a
22962 Siek
Deutschland
Phone: +49 4107 9080-0
Fax: +49 4107 908072
E-mail: info(at)gwb-immobilien.de
Internet: www.gwb-immobilien.de
ISIN: DE000A0JKHG0, DE000A0JRVH4, DE000A0JRVJ0
WKN: A0JKHG
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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125747 23.05.2011
Datum: 23.05.2011 - 09:20 Uhr
Sprache: Deutsch
News-ID 34171
Anzahl Zeichen: 0
contact information:
Kategorie:
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