HAMBORNER REIT AG / Key word(s): Change in Forecast
Ad hoc notification pursuant to Article 17 of the Market Abuse Regulation:
HAMBORNER REIT AG withdraws forecast for 2020 financial year
HAMBORNER REIT AG, Goethestrasse 45, 47166 Duisburg, 25 March 2020
The global community is facing special challenges regarding the current developments in connection with coronavirus (COVID-19).
The Management Board of HAMBORNER REIT AG assumes that the growing spread of the virus and the act adopted by the German parliament to mitigate the consequences of the COVID-19 pandemic in civil, insolvency and criminal procedural law will have a negative impact on the company's result of operations. Specifically, the Management Board expects that, within the period provisionally from April to June 2020, a number of affected tenants will reduce or entirely suspend rent payments. Depending on the duration and extent of the COVID-19 pandemic, it must be anticipated that some of these tenants will not (fully) honour their payment obligations after the stated period.
For this reason, the Management Board has today resolved to withdraw the forecast for income from rents and leases and for operating earnings (FFO) for the 2020 financial year published on 5 February 2020. Owing to the rapidity of developments in connection with COVID-19, it is currently not possible for the Management Board to formulate a forecast for further business performance in the 2020 financial year. The Management Board will therefore not be issuing a new forecast for the 2020 financial year.
The Management Board is monitoring the situation continuously and will take any necessary measures. A new forecast for the 2020 financial year will be published as soon as the implications of COVID-19 for business can be reliably assessed.
HAMBORNER REIT AG
The Management Board
Head of Investor & Public Relations
Tel.: +49 (0)203 54405-32
Fax: +49 (0)203 54405-49
|Company:||HAMBORNER REIT AG|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1007325|
|End of Announcement||DGAP News Service|