DGAP-News: PATRIZIA Immobilien AG / Key word(s): Disposal/Forecast
PATRIZIA Immobilien AG: 2011: PATRIZIA outstrips last year's sales
figures and confirms results forecast
11.01.2012 / 07:26
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2011: PATRIZIA outstrips last year's sales figures and confirms results
forecast
- Block sales of 836 units achieved in the 4th quarter
- Total block sales of 1,097 units in 2011
- 745 apartments privatized, including 222 units in the 4th quarter of
2011
Augsburg, January 11, 2012. In the 2011 fiscal year, PATRIZIA Immobilien AG
(ISIN DE000PAT1AG3) outperformed its sales forecasts. A total of 1,842
residential and commercial units were sold, representing an increase of
2.2% on 2010 (1,803 units).
In 2011, 745 residential and commercial units were privatized, including
222 in the 4th quarter alone. In the 4th quarter, the average sales price
per square meter achieved for individual units was EUR 2,399, while the
figure for the year as a whole was EUR 2,360 / sqm. Last year's high level
was thus maintained (previous year: EUR 2,370). As a result of additional
residential units being released for sale in 2011, the proportion of
tenants among purchasers increased: 14% of apartments went to tenants, 25%
to owner-occupiers and 61% to private investors.
The 4th quarter of 2011 saw additional block sales totaling 836 residential
and commercial units. For the year as a whole, this produced 1,097 units in
global sales, meaning block sales also met our forecast of at least 1,000
units sold. The average sales price per square meter of EUR 1,679 was 3.3%
up on the previous year (2010: EUR 1,625 / sqm).
In addition, deeds were signed for a residential building with 17 units in
Leipzig in the 4th quarter (EUR 1.3 million). We are expecting to receive
the purchase price from this in the 1st quarter of 2012.
In the past fiscal year PATRIZIA thus sold 1,842 units to private and
institutional investors (2010: 1,803 units, +2.2%). Looking at both sales
channels, the average sales price per square meter of EUR 1,995 (2010: EUR
1,951 / sqm) marked a further year-on-year increase. The price level is
based on the regional composition of the properties sold and on the overall
rising price level.
The sales achieved formed an element of our forecast for 2011 for an
operating profit of EUR 16-17 million, which we are able to confirm again
here. A large part of cash inflows was used to repay bank loans, which in
the 4th quarter of 2011 fell by around EUR 95 million from EUR 785 million
to around EUR 690 million. During the year bank liabilities fell by around
EUR 151 million, or 18%.
The Managing Board
Augsburg, January 11, 2012
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Germany
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: PAT1AG
Contact
Investor Relations
Margit Miller
Tel: +49 (0) 821 5 09 10-369
investor.relations@patrizia.ag
Press
Andreas Menke
Tel: +49 (0) 821 5 09 10-655
presse@patrizia.ag
End of Corporate News
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Language: English
Company: PATRIZIA Immobilien AG
FuggerstraÃe 26
86150 Augsburg
Germany
Phone: +49 (0)821 - 509 10-000
Fax: +49 (0)821 - 509 10-999
E-mail: investor.relations@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
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152291 11.01.2012
DGAP-News: PATRIZIA Immobilien AG: 2011: PATRIZIA outstrips last year's sales figures and confirms results forecast
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