11 November 2010 / 09:26

Corporate News

HAMBORNER REIT AG: Positive business trend also continues in 3rd quarter of 2010

HAMBORNER REIT AG  / Key word(s): Quarter Results/Interim Report11.11.2010 08:26--------------------------------------------------------------------------- Press releaseHAMBORNER REIT AG: Positive business trend also continues in 3rd quarter of2010  - Income from rent and leases further increased   - Operating result (FFO) increased by 20.0 %   - Altogether around EUR 62 million invested in attractive propertyDuisburg, 11 November 2010 - Die HAMBORNER REIT AG is also able to reportgood progress in its operating result for the 3rd quarter of 2010. Thetotal management earnings were EUR 18.3 million in the first nine months ofthe year, representing a 9% increase on the figures for the previous year.The increase was primarily thanks to new investments that were made. As ofthe end of September the vacancy rate is 2.3%, hence 1.4% down on thecomparable figure for the previous year (3.7%). When the figure is adjustedto account for rent guarantees it is only 1.2%. In the first nine monthHAMBORNER secured an operating result (FFO) of around EUR 9.5 million, anincrease of 20.0% on the previous year (EUR 8.0 million). An increase of15-20% on the previous year's figures is also estimated for the year 2010as a whole, which is better than previous expectations.With the assumption of REIT status as of 01.01.2010 and the resultingpermanent exemption from corporation tax and local trade tax, the hiddenreserves had to be calculated and tax paid on them (exit tax). Thisresulted in a one-time special effect in the 1st quarter of 2010 which hada negative impact of EUR 2.8 million on the result. However, this hadalready been absorbed by the 1st half year of 2010 and this led to abalanced result on 30.06.2010. As of 30.09.2010 the result for the periodwas EUR 2.5 million (EUR 4.4 million in the previous year).Regarding investments HAMBORNER continued its successful acquisitioncourse. Following the acquisition and transfer of office property inErlangen, an OBI supermarket in Hilden, a high street building inKamp-Lintfort and an EDEKA center in Stuttgart by the middle of the year,another office property was acquired in Ingolstadt in the 3rd quarter. Theinvestment volume as of 30.09.2010 is hence EUR 61.8 million. In the 3rdquarter two retail properties in Lemgo and Bad Homburg were officiallyrecorded. With these investments HAMBORNER is successfully implementing itsstrategy of profit-oriented growth particularly in Southern Germany.Further interesting properties are currently being examined. The net issueproceeds of around EUR 76 million from the successfully placed increase incapital in October also laid the foundation stone for further growth andcontinued increase in the FFO.As of 30.09.2010 the NAV was EUR 9.64 per share. The financial situation ofthe company continues to be extremely stable and positive. The REIT capitalratio is 54.2 % and the Loan to Value (LTV) is 42.1%. HAMBORNER REIT AG ishence perfectly positioned for future value-creating growth.Key figures as of 30.09.2010
                                                 30.09.2010     30.09.2009Income from rent and leases                        EUR 18.3       EUR 16.7                                                    million        millionEBITDA                                             EUR 14.5       EUR 13.4                                                    million        millionProfit for the financial year before                EUR 7.2        EUR 9.3depreciation (EBDA)*                                million        millionResult for period*                                * EUR 2.5        EUR 4.4                                                    million        millionFunds from Operations (FFO)                         EUR 9.5        EUR 8.0                                                    million        million                                                 30.09.2010     31.12.2009REIT EC ratio                                        54.2 %         67.2 %Loan to Value (LTV)                                  42.1 %         34.3 %Net Asset Value (NAV) per share                    EUR 9.64      EUR 10.37
* in 2010 influenced by exit taxAbout 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 2.4 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.Investor Relations:Sybille AlbeserTel.: +49 (0)203 54405-32Fax: +49 (0)203 54405-49E-Mail: s.albeser@hamborner.deWeb: www.hamborner.de 11.11.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.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 Announcement DGAP News-Service ---------------------------------------------------------------------------

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