9 May 2017 / 07:00

Corporate News

HAMBORNER REIT AG: Successful start to 2017

DGAP-News: HAMBORNER REIT AG / Key word(s): Quarterly / Interim Statement/Quarter Results

09.05.2017 / 07:00
The issuer is solely responsible for the content of this announcement.

Press Release

HAMBORNER REIT AG: Successful start to 2017

- Income from rents and leases up 20.3%

- FFO rises by 19.9%

- Portfolio volume of around EUR1.2 billion

- Vacancy rate at 1.3%


Duisburg, 9 May 2017 - Following the positive development in 2016, HAMBORNER REIT AG has made a successful start to the 2017 financial year and systematically continued its strategy of yield-oriented growth.

Income from rents and leases amounted to EUR17.6 million in the first quarter of 2017, up 20.3% on the same quarter of the previous year. FFO, a key control parameter for the company, climbed by 19.9% to EUR10.8 million in the first three months of the year. Net profit for the period amounted to EUR4.4 million. The vacancy rate was at a consistently low level of 1.3% as at 31 March 2017 (previous year: 1.2%). As at the end of the quarter, NAV per share came to EUR9.72 (as against EUR9.64 as at 31 December 2016). The company's financial situation also remains comfortable. The REIT equity ratio was 62.6%, and the loan-to-value (LTV) came to 35.1%.

In the first quarter of 2017, three additional properties were transferred to the portfolio: the "O3" office property in Cologne, the "market Oberfranken" in Hallstadt/Bamberg and "Kaufland" in Berlin-Marzahn. The total investment volume came to EUR108.8 million. Following the additions, HAMBORNER had a portfolio of 72 properties with a fair value of around EUR1.2 billion as at 31 March 2017.

For 2017 as a whole, the Management Board is keeping to its general assessment regarding future business prospects as published in the 2016 annual report. The Management Board is currently anticipating a rise in income from rents and leases of 16% to 18% along with a significant increase in the operating result (FFO) to a level of approximately EUR43 million to EUR44 million.

The company's Annual General Meeting will be held in Mülheim an der Ruhr on Wednesday, 10 May 2017. A dividend of 43 cents per share, to be paid out on 15 May 2017, will be proposed to the shareholders for the 2016 financial year.

Key figures as at 31 March 2017

  31 March 2017 31 March 2015
Income from rents and leases EUR 17.6 million EUR 14.7 million
Operating result EUR 7.7 million EUR 7.0 million
Net profit for the period EUR 4.4 million EUR 6.1 million
Funds from operations (FFO), absolute EUR 10.8 million EUR 9.0 million
Funds from operations (FFO) per share EUR 0.14 EUR 0.15
Number of shares 79,717,645 62,002,613
  31 March 2017 31 December 2016
REIT equity ratio 62.6 % 67.8 %
Loan-to-value (LTV) 35.1 % 30.1 %
Net asset value (NAV) per share EUR 9.72 EUR 9.64


HAMBORNER REIT AG is a stock exchange-listed public limited company that 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.

Investor Relations/Public Relations

Christoph Heitmann
Tel.: +49 203 54405-32
Fax: +49 203 54405-49
E-mail: c.heitmann@hamborner.de
Web: www.hamborner.de

09.05.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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