HAMBORNER REIT AG / Final Results
25.03.2010 09:29
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Press release
HAMBORNER REIT AG:
Annual report 2009 - Positive business development confirmed
- Rental and leasing income increased,
- FFO increase by 12.7%,
- Continuing comfortable financial funding
Duisburg, 25 March 2010 - After the disclosure of preliminary figures on
22.02.2010, HAMBORNER REIT AG was today able to confirm the positive
development of the financial year 2009 at the press conference in Frankfurt
am Main with publication of the annual report.
The company has successfully held its ground in a still difficult market
environment and can look back on a by and large satisfactory financial
year. The rental and leasing income has increased by 13.7% to EUR 22.4
million compared with the previous year through further acquisitions. The
average vacancy rate shows a familiarly low level at 3.5% or 1.1% after
rent guarantees.
The earnings before interest, taxes, depreciation and amortisation (EBITDA)
amount to EUR 16.9 million (previous year: EUR 31.0 million) and also the
profit for the financial year is perceptibly in the positive area at EUR
5.1 million (previous year: EUR 17.3 million). As the previous year was
characterised by high book profits due to sales, the current earnings
figures are not comparable with the figures of the previous year. Adjusted
for sales proceeds and as a key figure for the operational business
development, the FFO (Funds from Operations) at 42.3 cents per share shows
a significant increase of 12.7% compared with the previous year (37.5 cents
per share). Moreover, in a consistently difficult market environment, the
property portfolio has proven to be comparatively stable. Due to the annual
external revaluation of the property portfolio, the net asset value (NAV)
of the company at EUR 10.37 per share has only moderately reduced by 1.9%
compared with the previous year (EUR 10.57 per share).
With a cash balance of approximately EUR 38 million, a Loan-To-Value (LTV)
of 34.3% and an equity ratio of 67.1%, which is considerably above the 45%
required in accordance with the German REIT Act, the company is very well
equipped for further growth. A dividend increase from 35 cents to 37 cents
compared with the previous year is proposed to the general shareholders'
meeting on 10 June 2010.
The company expects stimulation for future development due to the
conversion into a REIT. The share is listed in the REIT segment of Deutsche
Börse since 22.02.2010. HAMBORNER wishes to exploit its opportunities on
the property transactions market through acquisitions. A further increase
in the FFO and thus a continuation of the good operating business
development is anticipated for 2010.
Key figures as of 31.12.2009
|[![CDATA[|[pre|]]]|]
2009 2008
Rental and leasing income EUR 22.4 EUR 19.7
million million
EBITDA* EUR 16.9 EUR 31.0
million million
Profit for the financial year before EUR 11.1 EUR 26.7
amortisation and depreciation (EBDA)* million million
Profit for the financial year* EUR 5.1 EUR 17.3
million million
Balance sheet capital ratio 52.0% 56.9%
REIT capital ratio 67.1% 77.1%
Loan-To-Value (LTV) 34.3% 31.1%.
Net Asset Value (NAV) per share EUR 10.37 EUR 10.57
Funds From Operations (FFO) per share EUR 0.42 EUR 0.37
|[![CDATA[|[/pre|]]]|]
* with special effects from high book profits in 2008
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 via a nationally-dispersed substantial property
portfolio as a 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, apartments and parking spaces.
Furthermore, the company still has approximately 4.5 million m² of
undeveloped land areas, which are located predominantly in Duisburg North
and in the adjacent municipalities of Dinslaken and Hünxe.
HAMBORNER REIT AG stands out due to many years of experience in the
property and capital market, its lean and transparent corporate structure
as well as the special closeness to the tenants. The company is a
registered Real Estate Investment Trust (REIT) and benefits at company
level from the exemption from corporation and trade tax.
Press contact:
Sybille Albeser
Tel.: +49 (0)203 54405-32
Fax: +49 (0)203 54405-49
E-mail: s.albeser@hamborner.de
Web: www.hamborner.de
25.03.2010 09:29 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: HAMBORNER REIT AG
GoethestraÃe 45
47166 Duisburg
Deutschland
Phone: 0203/54405-0
Fax: 0203/54405-49
E-mail: info@hamborner.de
Internet: www.hamborner.de
ISIN: DE0006013006
WKN: 601300
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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DGAP-News: HAMBORNER REIT AG: Annual report 2009 - Positive business development confirmed
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