DGAP-News: HAMBORNER REIT AG / Key word(s): Quarterly / Interim
Statement/Quarter Results
HAMBORNER REIT AG: Successful Q1 2016
27.04.2016 / 07:00
The issuer is solely responsible for the content of this announcement.
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Press Release
HAMBORNER REIT AG: Successful Q1 2016
- Income from rents and leases increased by 23.2%
- FFO increased by 35.8%
- Vacancy rate declined to 1.2%
Duisburg, 27 April 2015 - After its positive performance in 2015, HAMBORNER
REIT AG also had a great start to the current financial year 2016 and
consistently pursued its strategy of yield-oriented growth.
Income from rents and leases was approximately EUR14.7 million in the first
three months, and was therefore up by 23.2% year-on-year. FFO, the
company's key control parameter, even rose by 35.8% in the first quarter of
2016 and amounted to approximately EUR9.0 million. Net profit for the
period of EUR6.1 million was significantly higher as compared with the same
quarter of the previous year (EUR2.4 million). In comparison to 2015
(1.9%), the already very low vacancy rate has declined even further and
amounted to 1.2% as at 31 March 2016 taking into account rent guarantees
received. NAV per share as at the end of the quarter was EUR9.22 (EUR9.11
as at 31 December 2015). The financial situation of the company also
remains comfortable. The REIT equity ratio was 59.6% and the loan to value
(LTV) was 37.6%.
A particular highlight in the first quarter of the current financial year
was the transfer of the Haerder Centre in Lübeck acquired in 2015. The
shopping centre was transferred to the company on 29 February 2016 and,
with an investment volume of approximately EUR50 million, is the largest
single acquisition by the company to date. The property built in 2008
offers a rental area of around 13,200 m² and its core tenants include H&M,
New Yorker, REWE and mytoys. With annual rental income of approximately
EUR3.3 million, gross initial yield is 6.5%.
In addition, the purchase agreement for an office building in Münster was
signed in February 2016. The property is part of the Deilmann Office Park
and is in the immediate vicinity of the properties acquired in 2009. The
purchase price amounts to around EUR6.1 million at a gross initial yield of
6.8%. The total volume of our properties in Deilmann Park is therefore
around EUR30 million. Furthermore, the properties in Duisburg, Dinslaken
and Solingen, which were sold in 2015 as part of the sale of smaller
properties that no longer conform to the strategy, were transferred on 29
January 2016. After the additions and disposals in the first quarter,
HAMBORNER had a portfolio of 67 properties with a fair value of around
EUR943 million as at 31 March 2016. The company still has scope for
acquisitions of around EUR100 million to EUR120 million.
For 2016 as a whole, the Managing Board is standing by its basic estimates
for future business prospects as published in the 2015 annual report. After
the addition of the Haerder Centre in Lübeck and the upcoming transfers of
the do-it-yourself market in Ditzingen, which was acquired in 2015, as well
as the office property in Münster, the Managing Board expects an increase
of income from rents and leases of between 13 % and 15 %. Growth of a
similar amount is expected in FFO. The forecast does not take into account
any further additions or disposals that are not yet substantiated.
The company's Annual General Meeting will be held on Thursday, 28 April
2016 in Mülheim/Ruhr. A dividend of 42 cents per share for the 2015
financial year will be proposed to the shareholders.
Key figures as at 31 March 2016
<pre>
31 March 2016 31 March 2015
Income from rents and leases EUR 14.7 million EUR 11.9 million
Operating result EUR 7.0 million EUR 5.6 million
Net profit for the period EUR 6.1 million EUR 2.4 million
Funds from operations (FFO), absolute EUR 9.0 million EUR 6.6 million
Funds from operations (FFO) per share EUR 0.15 EUR 0.13
Number of shares 62,002,613 50,042,665
31 March 2016 31 December 2015
REIT equity ratio 59.6 % 61.5 %
Loan-to-value (LTV) 37.6 % 35.0 %
Net asset value (NAV) per share EUR 9.22 EUR 9.11
</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:
Christoph Heitmann
Tel.: +49 (0)203 54405-32
Fax: +49 (0)203 54405-49
E-mail: c.heitmann@hamborner.de
Web: www.hamborner.de
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27.04.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: HAMBORNER REIT AG
Goethestraße 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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458037 27.04.2016
DGAP-News: HAMBORNER REIT AG: Successful Q1 2016
| Quelle: EQS Group AG