HAMBORNER REIT AG / Key word(s): Quarter Results/Interim Report
HAMBORNER REIT AG: Q1 2011 - operating business performance remains positive
- Rental and leasing income up 22%, FFO climbs 27%
- Further properties added to portfolio,
- Shares admitted to SDAX,
Duisburg, 12 May 2011 - HAMBORNER REIT AG has enjoyed a successful start to operations in the new financial year. Management income for the first three months was up around 22% on the previous year's level at a total of EUR7.1 million. The increase is essentially due to the new investments that have been performed. The vacancy rate is 2.1%, or only 1.3% after adjustment for rent guarantees. In the first quarter, HAMBORNER generated an operating result of around EUR3.3 million (previous year: EUR2.7 million) and comprehensive income for the period of EUR1.7 million (previous year: EUR-1.3 million). The previous year's earnings were squeezed by the exit tax paid in connection with the transformation into a REIT last year.
Key figures as at 31 March 2011
* Influenced by exit tax in 2010
** 50% increase in number of shares in 2011
About HAMBORNER REIT AG
HAMBORNER REIT AG is a listed public limited company that now operates exclusively in the property sector and is positioned as a portfolio holder for high-yield commercial properties. The company generates sustainable rental income on the basis of a solid portfolio of properties distributed throughout Germany. Attractive retail trade spaces in key city centre locations in 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 doctors' surgeries.
The company also owns approximately 2.4 million m² of undeveloped land, 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 and its particular proximity to the tenants. The company is a registered Real Estate Investment Trust (REIT) and benefits at company level from exemption from corporation and trade tax.
Tel.: +49 (0)203 54405-32
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|Company:||HAMBORNER REIT AG|
|Listed:||Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), Hamburg, München, Stuttgart|
|End of News||DGAP News-Service|