9 August 2012 / 07:55

Corporate News

HAMBORNER REIT AG: Positive business performance continues in first half of 2012

HAMBORNER REIT AG / Key word(s): Half Year Results/Interim Report

09.08.2012 / 07:55


Press Release

HAMBORNER REIT AG: Positive business performance continues in first half of 2012

- Rental and leasing income and FFO up 22%

- Transition to second half of year begins with successful capital increase

- Confirmation of forecasts for year as a whole

Duisburg, 9 August 2012 HAMBORNER REIT AG today presented its report for the first half of 2012 and has had a highly successful first six months. As at 30 June 2012, income from rents and leases increased by around 22% as against the same period of the previous year to EUR18 million. This increase was essentially due to the investments performed in 2011 and the addition of the newly built OBI store in Aachen in April 2012. Like-for-like rental income climbed by around 1.1%. The vacancy rate is still extremely low at 1.7% or just 1.6% after rent guarantees. Net profit for period amounted to EUR3.8 million as at 30 June 2012 (previous year: EUR3.2 million), FFO per share to EUR0.29 (previous year: EUR0.22). The REIT equity ratio was 53.0% as at the end of the reporting period and the loan-to-value (LTV) ratio 41.5%.

As at the end of June, HAMBORNER held 67 properties with a total volume of around EUR518 million. To allow the company - which is currently eyeing highly attractive investment options and has access to extremely favourable financing conditions - to continue its growth, the Managing Board and the Supervisory Board resolved a capital increase in July 2012. Using a third of its authorised capital, the company issued 11,373,333 new shares with full dividend rights for 2012 and generated gross issue proceeds of around EUR74 million. The newly acquired funds are to be invested as quickly as possible to ensure a quick contribution to rental and leasing income and FFO. Following the capital increase, the REIT equity ratio is now around 67%.

In terms of the forecast for 2012 as a whole, the members of the Managing Board Dr. Rüdiger Mrotzek and Hans Richard Schmitz are still aiming for an increase in rental and leasing income of around 10% and growth in FFO of around 10% as well.

Key figures as at 30 June 2012

  H1 2012 H1 2011
Income from rents and leases EUR18.2 million EUR15.0 million
EBITDA EUR14.9 million EUR11.4 million
Earnings before depreciation and amortisation (EBDA) EUR9.8 million EUR8.0 million
Net profit for the period EUR3.8 million EUR3.2 million
Funds from operations (FFO), absolute EUR9.8 million EUR8.0 million
Funds from operations (FFO) per share EUR0.29 EUR0.23
  30 June 2012 31 December 2011
REIT capital ratio 53.0% 55.7%
Loan-to-value (LTV) 41.5% 39.1%
Net asset value (NAV) per share EUR8.62 EUR8.77




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, apartments and parking spaces.

Furthermore, the company still has approximately 1.4 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 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.

Investor Relations:

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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180960  09.08.2012

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