Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  Hamborner REIT AG    HAB   DE0006013006

HAMBORNER REIT AG

(HAB)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

HAMBORNER REIT : successfully closes first six months and confirms forecast for 2019

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/01/2019 | 01:05am EST

DGAP-News: HAMBORNER REIT AG / Key word(s): Half Year Results
HAMBORNER REIT AG successfully closes first six months and confirms forecast for 2019

01.08.2019 / 07:00
The issuer is solely responsible for the content of this announcement.


Press Release

HAMBORNER REIT AG successfully closes first six months and confirms forecast for 2019

- Growth in rental income (+2.3%) and FFO (+1.9%)

- Vacancy rate 2.0%

- NAV per share: EUR10.63

Duisburg, 1 August 2019 - HAMBORNER REIT AG has enjoyed a successful first half of 2019 and today publishes its half-year financial report. Income from rents and leases amounted to EUR42.3 million in the first half of the year and was therefore up by 2.3% year-on-year. Funds from operations (FFO), the key operating performance indicator, increased by 1.9% to EUR26.6 million in the first six months. The vacancy rate including agreed rent guarantees remained at a low level of 2.0% (previous year: 1.0%). The company's financial situation remains very comfortable. The REIT equity ratio was 55.2% and the loan-to-value (LTV) ratio was 43.5%.

The company had a portfolio of 78 properties with a fair value of more than EUR1.5 billion as at 30 June 2019. NAV per share as at the end of the first half of the year was EUR10.63 and therefore up 6.3% on the previous year's level (EUR10.00 as at 30 June 2018).

HAMBORNER announced the transfer of ownership of a property in Bamberg immediately after the end of the reporting period. The property acquired in autumn 2018 was transferred to the HAMBORNER portfolio as planned on 1 July. This is a modern, 6,100 m² office and retail property that has been let to the food retailer EDEKA on a long-term lease and other office tenants of good credit standing. The weighted remaining term of the leases is around eight years. The purchase price of the property is EUR14.9 million. With annual rental income of EUR0.84 million, the gross initial yield is 5.6%.

The company has continued to make sales as well. An agreement for the sale of a commercial property in Leverkusen was signed in the middle of July. The selling price is EUR1.6 million. The sale will lead to a positive effect on earnings of EUR0.1 million. Ownership is expected to transfer in the coming weeks.

For 2019 as a whole, the Management Board is standing by its assessment for future business prospects as published in the 2018 annual report. The Management Board is assuming an increase in income from rents and leases of between 1% and 2% and FFO on par with the previous year's high level.

In light of the consistently positive business performance in the current year of 2019 and the forthcoming transfer of ownership of three project developments, the company is assuming further growth in rental income and FFO in 2020. At the start of the coming year, the office properties still under construction in Aachen, Bonn and Neu-Isenburg will be transferred to the HAMBORNER portfolio and will contribute to rental income with around EUR3.6 million p.a.

The half-year financial report is available for download at https://www.hamborner.de/en/investor-relations/financial-reports.html.

Key figures as of 30 June 2019

  H1 2019 H1 2018
     
Income from rents and leases EUR42.3 million EUR41.3 million
EBITDA EUR34.3 million EUR33.7 million
Net profit for the period EUR9.2 million EUR9.5 million
Funds from operations (FFO), absolute EUR26.6 million EUR26.1 million
Funds from operations (FFO) per share EUR0.33 EUR0.33
Net asset value (NAV) per share EUR10.63 EUR10.00
REIT equity ratio 55.2% 54.5%
Loan to Value (LTV) 43.5% 44.5%
 

About HAMBORNER REIT AG

HAMBORNER REIT AG is a public company listed in the SDAX that 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 diversified portfolio of properties distributed throughout Germany with a total value of around EUR1.5 billion. The portfolio focuses on large-scale retail parks and properties, profitable offices and medical practices and attractive high street properties in major German cities and mid-sized centres.

HAMBORNER REIT AG is distinguished by its many years of experience on the property and capital market, its consistent and sustainable dividend policy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and benefits from corporation and trade tax exemption at company level.

Investor- & Public Relations:

Christoph Heitmann
Tel.: +49 (0) 203 54405-32
Fax: +49 (0) 203 54405-49
E-Mail: c.heitmann@hamborner.de
Web: www.hamborner.de



01.08.2019 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: HAMBORNER REIT AG
Goethestraße 45
47166 Duisburg
Germany
Phone: 0203/54405-0
Fax: 0203/54405-49
E-mail: info@hamborner.de
Internet: www.hamborner.de
ISIN: DE0006013006
WKN: 601300
Indices: SDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London, SIX
EQS News ID: 849791

 
End of News DGAP News Service

849791  01.08.2019 

fncls.ssp?fn=show_t_gif&application_id=849791&application_name=news&site_id=zonebourse

© EQS 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on HAMBORNER REIT AG
01/23HAMBORNER REIT : sets course for the future - Niclas Karoff appointed as Chief E..
EQ
01/23HAMBORNER REIT AG : Expansion of the Management Board and appointment of Niclas ..
EQ
01/15HAMBORNER REIT AG : Transfer of ownership of an office building with sustainabil..
EQ
2019HAMBORNER REIT AG : Supervisory Board Chairwoman will not stand for re-election
EQ
2019HAMBORNER REIT : looks backs on a successful nine months and again reiterates fo..
EQ
2019HAMBORNER REIT : acquires retail property in Lengerich
EQ
2019HAMBORNER REIT : successfully closes first six months and confirms forecast for ..
EQ
2019HAMBORNER REIT AG : Preliminary announcement of the publication of financial rep..
EQ
2019HAMBORNER REIT : starts second half-year with portfolio growth
EQ
2019HAMBORNER REIT AG : Notification and public disclosure of transactions by person..
EQ
More news
Financials (EUR)
Sales 2019 85,9 M
EBIT 2019 34,2 M
Net income 2019 18,1 M
Debt 2019 688 M
Yield 2019 4,70%
P/E ratio 2019 43,2x
P/E ratio 2020 40,2x
EV / Sales2019 17,4x
EV / Sales2020 17,3x
Capitalization 809 M
Chart HAMBORNER REIT AG
Duration : Period :
Hamborner REIT AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HAMBORNER REIT AG
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 10,85  €
Last Close Price 10,15  €
Spread / Highest target 13,3%
Spread / Average Target 6,90%
Spread / Lowest Target 2,46%
EPS Revisions
Managers
NameTitle
Bärbel Schomberg Chairman-Supervisory Board
Christel Kaufmann-Hocker Member-Supervisory Board
Mechthilde Dordel Member-Supervisory Board
Dieter Rolke Member-Supervisory Board
Wolfgang Heidermann Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
HAMBORNER REIT AG4.00%892
SIMON PROPERTY GROUP-2.78%44 441
THE LINK REAL ESTATE INVESTMENT TRUST0.00%21 749
UNIBAIL-RODAMCO-WESTFIELD-6.15%20 141
SCENTRE GROUP2.35%13 983
REGENCY CENTERS CORPORATION1.10%10 688