DGAP-News: HAMBORNER REIT AG: Third quarter also successful, forecast for year as a whole confirmed
(firmenpresse) - DGAP-News: HAMBORNER REIT AG / Key word(s): Quarter Results/Real
Estate
HAMBORNER REIT AG: Third quarter also successful, forecast for year as
a whole confirmed
09.11.2011 / 07:00
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Press Release
HAMBORNER REIT AG: Third quarter also successful, forecast for year as a
whole confirmed
- Rental and leasing income and FFO up 28% as at 30 September 2011
- Portfolio reaches value of around EUR500 million
- FFO increase of at least 30% forecast by end of 2011
Duisburg, 9 November 2011 - HAMBORNER REIT AG today presented its report
for the third quarter of 2011 and has had a highly successful first nine
months. Rental and leasing income for the first nine months rose by around
28% on the previous year's level to a total of EUR23 million. The increase
is essentially due to the new investments. The vacancy rate is still low at
1.8% or just 1.3% after rent guarantees. In the first three quarters,
HAMBORNER generated an operating result of around EUR10.3 million (previous
year: EUR9.3 million) and comprehensive income for the period of EUR5.5
million (previous year: EUR2.6 million). The previous year's earnings were
squeezed by the exit tax paid in connection with the transformation into a
REIT last year.
HAMBORNER systematically implemented its growth activities in the first
nine months of the year. After seven properties in Brunnthal, Bad Homburg,
Regensburg, Leipzig, Langenfeld, Erlangen and Offenburg with a total volume
of around EUR111 million were already added to the HAMBORNER portfolio by
the end of September, the E-Center in Freiburg acquired last year and now
completed was also handed over at the start of November. In addition, the
agreement for the 'NuOffice' in Munich - a further highly attractive
property with advanced energy features - was signed in October. An OBI DIY
store in Aachen is expected to be added to the portfolio in February 2012.
With the properties that have been added to the books to date, HAMBORNER
has achieved its growth target for this year - a portfolio value of around
EUR500 million. And the prospects for 2011 as a whole are also still
positive at an operational level. The members of the Managing Board Dr.
Rüdiger Mrotzek and Hans Richard Schmitz can now confirm the forecast for
the year of growth in rents of at least 25% and an increase in FFO of at
least 30%. FFO for the first nine months amounted to around EUR12.3
million, an increase of approximately 28% on the previous year's level.
The company's financial situation is also still extremely solid and highly
comfortable. The REIT equity ratio is 56% and the loan-to-value (LTV) ratio
38%.
Key figures as at 30 September 2011
Q3 2011 Q3 2010* Influenced by exit tax in 2010
Rental and leasing income EUR23.4 EUR18.3
million million
EBITDA EUR18.6 EUR14.6
million million
Earnings before depreciation and EUR13.1 EUR7.4 million
amortisation (EBDA)* million
Comprehensive income for the period* EUR5.5 million EUR2.6 million
Funds from operations (FFO), absolute EUR12.3 EUR9.6 million
million
Funds from operations (FFO) per share** EUR0.36 EUR0.42
30 September 31 December
2011 2010
REIT equity ratio 56.1% 74.4%
Loan-to-value (LTV) 38.2% 19.3%
Net asset value (NAV) per share EUR8.60 EUR8.74
** Number of shares 50% higher in 2011
About HAMBORNER REIT AG
HAMBORNER REIT AG is a public limited company listed on the stock exchange
which today works exclusively in the real estate sector and occupies a
position as a portfolio holder for high-yield commercial properties. The
basis of the company's sustainable rental income is a substantial real
estate portfolio that is spread throughout the country. The main focus of
the portfolio consists of attractive retail space in central city centre
locations in Germany and resources centres. Furthermore, the property
portfolio comprises highly frequented specialist stores and profitable
office buildings, as well as doctors' surgeries, apartments and car parks.
Additionally, the company possesses around 2.4 million m²of undeveloped
land, which is mainly located in the north of Duisburg and the neighbouring
local authority districts of Dinslaken and Hünxe.
The outstanding features of HAMBORNER REIT AG are its many years of
experience in the real estate and capital market, its lean and transparent
corporate structure and its particular proximity to the tenants. The
company is a registered Real Estate Investment Trust (REIT) and benefits at
the company level from exemption from corporation and trade tax.
Contact:
Sybille Albeser
Tel.: +49 (0)203 54405-32
Fax: +49 (0)203 54405-49
E-Mail: s.albeser(at)hamborner.de
Web: www.hamborner.de
End of Corporate News
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09.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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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(at)hamborner.de
Internet: www.hamborner.de
ISIN: DE0006013006
WKN: 601300
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München, Stuttgart
End of News DGAP News-Service
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