12 August 2010 / 08:35

Corporate News

HAMBORNER REIT AG: HAMBORNER continues on course for growth in the first half of 2010

HAMBORNER REIT AG / Half Year Results/Half Year Results12.08.2010 08:35Dissemination of a Corporate News, transmitted byDGAP - a company of EquityStory AG.The issuer / publisher is solely responsible for the content of this announcement.---------------------------------------------------------------------------HAMBORNER REIT AG: HAMBORNER continues on course for growth in the first half of 2010  - Rental and lease revenues  continue to rise,   - Results from operations (FFO ) increase by 21.7%,   - Approximately EUR83 million invested overall in attractive properties.Duisburg, August 12, 2010 - In the first half of 2010 the firm HAMBORNERREIT AG can again announce continuing positive progress in its operationalbusiness activities. The management revenues in the first six months areapproximately 7% above those for the same period the previous year ataround EUR11.8 million. The increase essentially results from the newinvestments carried out at the end of 2009 and in the first six months of2010. The vacancy rate of the period under review is 2.3%, therebyimproving by 1.4% points with respect to the comparable value for theprevious year (3.7%). When adjusted to take into account rent guarantees,however, the level is only 1.2%. During the first half of the yearHAMBORNER's results from operations (FFO) were around EUR6.3 million, whichis 21.7% above the previous year's level (EUR5.3 million). An increase isalso expected for the whole of 2010 compared to last year.Upon the company's acquisition of REIT status as of January 1, 2010 and theassociated permanent exemption from corporation and trade tax, theundisclosed reserves had to be determined and the tax due on them paid(final tax assessment). With the tax liability of EUR16.6 million formedfor this in the first quarter of 2010 it was possible to release deferredtaxes of EUR13.8 million on balance, so that the resulting negative effecton earnings was EUR2.8 million. In spite of this one-off special effect,the period result overall in the first six months of 2010 is balanced,after a figure of -EUR1.4 million in the first quarter of 2010.In terms of investments, HAMBORNER continued on the course of growth whichit had already started. After the acquisition of an office building inErlangen, an OBI market in Hilden and a high street property inKamp-Lintfort in the first three months of the year, HAMBORNER invested intwo attractive EDEKA centres in Stuttgart and Freiburg during the course ofthe second quarter. This was followed in August by the notarisation of acommercial building in Bad Homburg and an office property in Ingolstadt.With these investments totalling approximately EUR83 million, HAMBORNER issuccessfully implementing its strategy of yield-oriented growth,particularly in the area of south Germany, thereby laying the foundationstone for a further increase in the FFO.The NAV as of June 30, 2010 is EUR9.51 per share. The financial situationof the company remains extremely sound and comfortable. The REIT equityratio is 58.0 % and the loan to value (LTV) 37.2%. HAMBORNER REIT AGtherefore remains in an ideal position for future value-creating growth.Key data as of June 30, 2010
                                            June 30, 2010   June 30, 2009Rental and lease revenues                         EUR11.8         EUR11.1                                                  million         millionEBITDA                                      EUR9.2 million  EUR9.2 millionNet income for the year before depreciation EUR3.7 million  EUR6.5 million(EBDA)*Net profit for the period*                        EUR0.05   EUR3.3 million                                                  millionFunds from Operations (FFO)                      EUR6,371        EUR5,325                                                  million         million                                            June 30, 2010    Dec 31, 2009REIT equity capital ratio                          58.0 %          67.2 %Loan to Value (LTV)                                37.2 %          34.3 %Net Asset Value (NAV) per share                   EUR9.51        EUR10.37
* affected by exit tax in 2010About HAMBORNER REIT AGHAMBORNER REIT AG is a stock exchange-listed public limited company thattoday exclusively operates in the property sector and is positioned as aportfolio holder for high-yielding commercial properties. The company'sbase consists of sustainable rental incomes via a nationally-dispersedsubstantial property portfolio. Attractive retail trade spaces in key towncentre sites of German cities and intermediate centres form the focal pointof the portfolio. In addition, the property portfolio includeshighly-frequented specialist stores and profitable office buildings as wellas spaces for doctors' offices, apartments and parking spaces.Furthermore, the company still has approximately 4.5 million m² ofundeveloped land areas, which are located predominantly in Duisburg Northand in the adjacent municipalities of Dinslaken and Hünxe.HAMBORNER REIT AG stands out due to many years of experience in theproperty and capital market, its lean and transparent corporate structureas well as the special closeness to the tenants. The company is aregistered Real Estate Investment Trust (REIT) and benefits at companylevel from exemption from corporation and trade tax.Press contact:Sybille AlbeserTel.: +49 (0)203 54405-32Fax: +49 (0)203 54405-49E-mail: s.albeser@hamborner.deWeb: www.hamborner.de12.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language: EnglishCompany: HAMBORNER REIT AG Goethestraße 45 47166 Duisburg DeutschlandPhone: 0203/54405-0Fax: 0203/54405-49E-mail: info@hamborner.deInternet: www.hamborner.deISIN: DE0006013006WKN: 601300Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg, München, Düsseldorf, Berlin, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------

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