DGAP-News: HAMBORNER REIT AG / Key word(s): Preliminary Results/Final
Results
HAMBORNER REIT AG: Provisional earnings figures confirm successful
2013 financial year
06.02.2014 / 07:00
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HAMBORNER REIT AG: Provisional earnings figures confirm successful 2013
financial year
- Rental and leasing income up around 22%
- Rise in operating result (FFO) of around 26%
- Dividend proposal: Dividend of 40 cents per share
Duisburg, 6 February 2014 - HAMBORNER REIT AG can look back on another
successful financial year. For instance, the company managed to acquire a
number of attractive properties. HAMBORNER assumed ownership of the
NuOffice office building in Munich - which now has platinum LEED
certification - back at the start of January 2013. This was followed in
March by the office building on the EUREF Campus in Berlin. At the end of
May, a mixed-use property in Bayreuth was added to the portfolio, followed
by a newly constructed OBI DIY store in Hamburg in December. Due to this
new objects, the portfolio value rose by around EUR114.6 million to
EUR691.8 million as at 31 December 2013. In addition, a purchase agreement
for a commercial property in Bad Homburg's pedestrianised zone was signed
in December. This property was added on 10 January 2014.
HAMBORNER also made progress with the sale of smaller properties with high
administrative requirements. A property in Oberhausen were sold and sale
agreements for properties in Moers, Wuppertal and Hanover were signed in
2013. Annual rental income of around EUR0.8 million stemmed from around 13
commercial and 31 residential rental agreements here. The administrative
capacity freed up as a result of this can now be put to good use elsewhere
in the asset portfolio.
The company's successful business policy is reflected by the key
performance indicators.
According to provisional annual financial statement figures that have not
yet been audited, rental and leasing income for 2013 again posted a
double-digit increase of around 22% to EUR45.2 million (previous year:
EUR37.0 million). The average vacancy rate remained at a low level of 3.4%
(2.5% including rent guarantees). The operating result was EUR20.4 million
after EUR17.5 million in the previous year. This rise of around 17% is
attributable in particular to the higher rental income. At EUR20.8 million,
EBIT was around 13% higher than in the previous year (EUR18.4 million).
After deducting net financing costs and taxes, the net profit for the year
amounted to around EUR8.5 million, up 10% on the previous year's figure
(EUR7.7 million).
As a key indicator of operating performance and for the company's
controlling system, FFO (funds from operations) and FFO per share climbed
by around 26% to EUR23.8 million (previous year: EUR18.9 million) and
EUR0.52 (previous year: EUR0.41) respectively. The company's net asset
value (NAV) per share is EUR8.25 (previous year: EUR8.17 per share).
The company's financial position remains very healthy. Bank deposits and
cash balances stand at EUR28.2 million, in line with the previous year
(EUR29.3 million). The loan-to-value (LTV) ratio is 43.7% (previous year:
34.2%). The REIT equity ratio of 52.5% is also still well in excess of the
45% required under the German REIT Act.
In light of the consistently good business performance in 2013, the
Managing Board intends - subject to the approval of the Supervisory Board -
to propose to the Annual General Meeting on 6 May 2014 a dividend of
EUR0.40 per share. Based on the year-end price of shares of the year of
EUR7.34, this marks a dividend yield of 5.4%. The company will publish its
final figures on 26 March 2014.
<pre>
Overview of key figures 2013 preliminary 2012 Change
figures
Income from rents and leases EUR45.2 million EUR37.0 + 22%
million
Operating result EUR20.4 million EUR17.5 + 17%
million
EBIT EUR20.8 million EUR18.4 + 13%
million
Net profit for the year EUR8.5 million EUR7.7 + 10%
million
REIT equity ratio 52.5% 60.3% - 7.8
percentage
points
Loan-to-value (LTV) 43.7% 34.2% + 9.5
percentage
points
Funds from operations EUR23.8 million EUR18.9 + 26%
million
Funds from operations (FFO) EUR0.52 EUR0.41 + 26%
per share
Net asset value (NAV) EUR375.3 million EUR371.8 + 1%
million
Net asset value (NAV) per EUR8.25 EUR8.17 + 1%
share
Dividend per share (*) EUR0.40 EUR0.40 +/- 0%
</pre>
(*) Proposal to the AGM, subject to the approval of the Supervisory Board
About HAMBORNER REIT AG
HAMBORNER REIT AG is a stock exchange-listed public limited company that
today 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.
Contact:
Sybille Schlinge
Tel.: +49 (0)203 54405-32
Fax: +49 (0)203 54405-49
E-mail: s.schlinge@hamborner.de
Web: www.hamborner.de
End of Corporate News
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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: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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DGAP-News: HAMBORNER REIT AG: Provisional earnings figures confirm successful 2013 financial year
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