HAMBORNER REIT AG / Key word(s): Quarter Results/Half Year Results
HAMBORNER REIT AG: Successful business performance continues
- Rental and leasing income up 22% in first half of year, net profit for period climbs 49%
- FFO rises 27%
- Forecast for year as a whole raised slightly
Rental and leasing income rose by around 22% in the first six months to a total of EUR22.2 million. The main factor contributing to this increase was the rental income from the property additions of 2012 and the first half of 2013. The vacancy rate is at a relatively low level of 3.7%. The rise as against the previous year (1.7%) is due in particular to the recently acquired and newly built properties in Munich and Berlin, which were not yet fully let when transferred. Multi-year rent guarantees have been agreed with the sellers for the vacant areas in these Munich and Berlin properties, which are now almost fully let. Taking these into account, the vacancy rate as at 30 June 2013 was only 2.4%. In the first half of 2013, HAMBORNER generated an operating result of around EUR11.0 million (previous year: EUR8.9 million) and a net profit for the period of EUR5.5 million, an increase of 49% on the previous year (EUR3.8 million).
Portfolio value increases to EUR674 million
FFO increase of 27% - forecast for 2013 as a whole raised slightly:
Key figures as at 30 June 2013
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.
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.
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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|