DGAP-News: HAMBORNER REIT AG / Key word(s): Quarter Results/Real
Estate
HAMBORNER REIT AG: successful Q1 2015
05.05.2015 / 08:05
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HAMBORNER REIT AG: successful Q1 2015
- Rental and leasing income up 1.7%, FFO climbs 4.3%
- Rapid reinvestment of funds from February's 2015 10% capital increase
- Forecast for 2015: 8-10% increase in rents and FFO rise in 2015
Duisburg, 5 May 2015 - HAMBORNER REIT AG has enjoyed a successful and
active start in the 2015 financial year. Rental and leasing income for the
first three months in 2015 rose by around 1.7% from the previous year's
level to a total of EUR 11.9 million. The vacancy rate is still at a low
level of 2.5%. The net profit for the period as at 31 March 2015 amounted
to EUR 2.4 million.
While the same period of the previous year was characterised by the sale of
properties no longer consistent with strategy, HAMBORNER intensified its
continued focus in the first three months of 2015 on the strategy of
profit-oriented growth. The job centre in Aachen that was acquired back in
2014 was added to our books at the end of March. As at 31 March 2015, the
value of the company's portfolio was thus EUR 745 million (31 December
2014: around EUR 717.5 million).
The funds realised from the 10% capital increase carried out in February
2015 of around EUR 41 million were reinvested quickly. For example, the
company already signed a purchase agreement in March for a retail centre in
Celle that was comprehensively modernised in 2014 and has real,-, Aldi,
tedox and Fressnapf as its main tenants. Transfer of ownership of the
property of around EUR 35.2 million, annual rental income of around EUR 2.3
million and gross initial yield of around 6.6% began just a short time
later on 16 April 2015.
As part of its strategy of simultaneously selling small properties no
longer consistent with strategy, HAMBORNER signed a sales agreement for a
small commercial property in Kassel in the first quarter. However, the
property valued at around EUR 0.7 million will remain in HAMBORNER's
portfolio until the end of the year since the transfer of ownership to the
buyer will not take place until 2016.
FFO for the first three months 2015 amounted to EUR 6.6 million. This
figure is around 4.3% higher than the previous year's level. NAV amounted
to EUR 8.81 per share as at 31 March 2015 (EUR 8.67 as at 31 December
2014). The company's financial situation remains comfortable. The REIT
equity ratio is 57.4% and the loan-to-value (LTV) ratio 39.0%.
For 2015 as a whole, the Managing Board adheres to its basic assessment
regarding future business prospects as published in the 2014 annual report.
However, it now expects - after the acquisition of the property in Celle -
an increase of rental and leasing income by 8-10% and the FFO on a similar
scale.
The Annual General Meeting of the company will be held on Thursday, 7 May
2015 in Mülheim/Ruhr.
A dividend of 40 cents per share for the past 2014 financial year will be
proposed to the shareholders.
Key figures as at 31 March 2015
<pre>
31 March 2015 31 March 2014
Income from rents and leases EUR 11.9 million EUR 11.7 million
Operating result EUR 5.6 million EUR 5.2 million
Net profit for the period EUR 2.4 million EUR 6.3 million
Funds from operations (FFO), absolute EUR 6.6 million EUR 6.4 million
Funds from operations (FFO) per share EUR 0.13 EUR 0.14
Number of shares 50,042,665 45,493,333
31 March 2015 31 December 2014
REIT equity ratio 57.4% 53.1%
Loan-to-value (LTV) 39.0% 43.3%
Net asset value (NAV) per share EUR 8.81 EUR 8.67
</pre>
About HAMBORNER REIT AG
HAMBORNER REIT AG is a stock exchange-listed public limited company that
exclusively operates in the property sector and is positioned as a
portfolio holder for high-yielding commercial properties. The company has
sustainable rental incomes, with a nationally-dispersed substantial
property portfolio as its foundation. Attractive retail trade spaces in key
town centre sites of German cities and intermediate centres form the focal
point of the portfolio. In addition, the property portfolio includes
highly-frequented specialist stores and profitable office buildings, as
well as spaces for medical practices.
HAMBORNER REIT AG stands out due to its many years of experience in the
property and capital market, its lean and transparent corporate structure
as well as its special proximity to the tenants. Since February 18, 2010
HAMBORNER has been a registered Real Estate Investment Trust (REIT) and
benefits at company level from exemption from corporation and trade tax.
PR/IR:
Sybille Schlinge
Tel.: +49 (0)203 54405-32
Fax: +49 (0)203 54405-49
E-mail: s.schlinge@hamborner.de
Web: www.hamborner.de
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05.05.2015 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: HAMBORNER REIT AG
GoethestraÃe 45
47166 Duisburg
Germany
Phone: 0203/54405-0
Fax: 0203/54405-49
E-mail: info@hamborner.de
Internet: www.hamborner.de
ISIN: DE0006013006
WKN: 601300
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart
End of News DGAP News-Service
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352737 05.05.2015
DGAP-News: HAMBORNER REIT AG: successful Q1 2015
| Source: EQS Group AG