PRESS RELEASE : HAMBORNER REIT AG: Figures for 2020 confirm revenue and earnings growth and underline high business model stability - dividend proposal of EUR0.47 per share

DGAP-News: HAMBORNER REIT AG / Key word(s): Annual Results/Dividend 
HAMBORNER REIT AG: Figures for 2020 confirm revenue and earnings growth and underline high business model stability - 
dividend proposal of EUR0.47 per share 
2021-03-22 / 07:00 
The issuer is solely responsible for the content of this announcement. 
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PRESS RELEASE 
HAMBORNER REIT AG: Figures for 2020 confirm revenue and earnings growth and underline high business model stability - 
dividend proposal of EUR0.47 per share 
- Growth in rental income (+3.6%) and FFO (+2.4%) 
- Successful progress in portfolio expansion and optimisation 
- Strong letting performance and sustained extremely low vacancy rate 
- Dividend proposal on previous year's level at EUR0.47 
- Choice of cash or scrip dividend once again 
SUCCESSFUL 2020 FINANCIAL YEAR 
Duisburg, 22 March 2021 - HAMBORNER REIT AG today publishes its annual report for 2020 following another successful 
financial year with further growth in revenue and earnings. The business figures reported in conjunction with the 
publication of the preliminary results for the year on 4 February 2021 have been confirmed in full. 
Income from rents and leases and funds from operations (FFO) saw year-on-year growth to EUR88.2 million (+3.6 %) and EUR 
55.6 million (+2.4 %) respectively, thereby also exceeding the revenue and earnings forecast for the past financial 
year that was published in July 2020. 
The company added three high-quality, newly built office properties and a small retail centre to its portfolio in 2020. 
The total investment volume was EUR101.4 million. The properties will contribute around EUR5.0 million to income from rents 
and leases in future. 
As part of its ongoing portfolio optimisation with a current focus on successively selling off retail properties in 
city centre locations, the company signed contracts in the second half of 2020 to sell a total of eleven mostly smaller 
high street retail assets that are no longer consistent with its strategy. The sale prices totalled around EUR59.1 
million. 
The external valuation of the property portfolio at the end of 2020 resulted in the fair value of the properties 
already in the portfolio as at 31 December 2019 being reduced by 3.5%. This related essentially to retail properties in 
city centre locations that were hit particularly hard by the coronavirus pandemic. Taking into account the revaluation 
and the property additions and disposals during the year, the fair value of the portfolio as a whole was EUR1.625 billion 
as at 31 December 2020. Net asset value (NAV) per share declined by 4.7% as against the end of 2019 to EUR11.05. 
OPERATING PERFORMANCE IN 2020 
The letting market saw negative development in the past year due to the COVID-19 pandemic and the resulting impact on 
the macroeconomic environment. Although space turnover declined significantly in some cases, the company succeeded in 
concluding leases for around 102,000 m² during the course of 2020. This primarily related to lease renewals with 
existing tenants. In terms of total leased space, the retention rate in 2020 was around 84%. Thanks to successful 
letting activity, the average remaining term of the leases (6.3 years) and the occupancy rate (98.1% according to the 
EPRA definition) remained at a high level at the end of 2020. The extremely positive operating performance given the 
economic conditions serves to underline the company's internal asset management expertise and the sustained high 
quality of its property portfolio. 
DIVIDEND & ANNUAL GENERAL MEETING 
In line with the positive business performance in 2020, the Management Board and the Supervisory Board will propose a 
dividend of EUR0.47 per share to this year's Annual General Meeting, the same as in the previous year. Based on the 
current share price, this would correspond to a dividend yield of around 5.3%. 
In light of the high level of shareholder acceptance last year, the company intends to offer a scrip dividend once 
again. This means that shareholders interested in a straightforward reinvestment of their dividend entitlement can 
again receive stock in HAMBORNER REIT AG instead of a conventional cash dividend. Further information on the scrip 
dividend and a dividend calculator that can be used to calculate shareholders' individual entitlement to new shares can 
be found on the company's website at https://www.hamborner.de/en/investor-relations/scrip-dividend.html. 
The Annual General Meeting of the company will be held on 29 April 2021 as a virtual Annual General Meeting without 
shareholders or their authorised representatives attending in person. The agenda and the proposals for resolution will 
be published today in the German Federal Gazette and on the company's website at https://www.hamborner.de/en/ 
investor-relations/general-shareholders-meeting.html. 
CURRENT BUSINESS PERFORMANCE 
In the current market environment, HAMBORNER is continuing to benefit from its stable and diversified portfolio and its 
high share of tenants of good credit, particularly in the area of food retail. At the same time, the lockdown imposed 
in mid-December 2020 meant that individual tenants affected by closures curtailed or suspended their rent payments in 
the months of January to March. 
Across the portfolio as a whole, the rent collection rates (including ancillary costs and VAT) for this period averaged 
94.6%. Depending on the duration and extent of the official restrictions, the company expects that a number of tenants 
will still be unable to (fully) honour their payment obligations. HAMBORNER is maintaining the corresponding dialogue 
with the tenants concerned and is confident that it will continue to find mutual and fair solutions. 
In recent weeks, the company systematically continued the expansion and optimisation of its portfolio with the 
signature of the purchase agreement for an office property in Mainz. Currently fully let, the property is situated at 
an established office location and offers significant value potential that will be realised as part of the "manage to 
core" approach and on the basis of a comprehensive modernisation and re-letting concept. 
In terms of sales activity, the company also signed contracts to sell a further two high street properties in Bad 
Homburg that are no longer consistent with its strategy. 
Transfer of ownership is provisionally scheduled for the second quarter of 2021. 
OUTLOOK 2021 
Taking the current business performance into account, the Management Board of HAMBORNER REIT AG published guidance for 
the current financial year in February 2021: 
- Income from rents and leases of between EUR82 million and EUR86 million 
- Funds from operations (FFO) of between EUR45 million and EUR50 million 
- Net asset value (NAV) expected to reach the previous year's level 
This forecast is subject to uncertainty largely stemming from non-recurring effects anticipated during the year whose 
influence on the revenue and earnings situation cannot be reliably estimated at the current time. 
Further information on the assumptions underlying the guidance and the key factors can be found in the forecast report 
in the 2020 annual report, which is available to download from the company's website at https://www.hamborner.de/en/ 
investor-relations/financial-reports.html. 
FINANCIAL AND PORTFOLIO KEY FIGURES AS AT 31 DECEMBER 2020 
                                                  2020      2019       Change 
Income from rents and leases                    EUR88.2m    EUR85.2m        +3.6% 
Operating result                                EUR-0.9m    EUR33.3m          n/a 
Profit for the period                           EUR-9.3m    EUR17.9m          n/a 
Funds from Operations (FFO)                     EUR55.6m    EUR54.3m        +2.4% 
Funds from Operations (FFO) per share           EUR 0.69    EUR 0.68        +1.3% 
REIT equity ratio                                54.5%     57.3% -2.8%-points 
Loan to Value (LTV)                              44.5%     42.4% +2.1%-points 
EPRA Net Asset Value (NAV)               EUR890.7 Mio. EUR   EUR924.3m        -3.6% 
EPRA Net Asset Value (NAV) per share          EUR11.05 EUR    EUR11.59        -4.7% 
EPRA Net Tangible Assets (NTA)           EUR890.2 Mio. EUR   EUR923.7m        -3.6% 
EPRA Net Tangible Assets (NTA) per share      EUR11.05 EUR    EUR11.59        -4.7% 
Fair value of property portfolio             EUR1,624.8m EUR1,598.1m        +1.7% 
EPRA vacancy rate                                 1.9%      1.3% +0.6%-points 
Weighted remaining term of leases            6.3 years 6.6 years   -0.3 years 

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 EUR1.6 billion. The portfolio focuses on modern office properties at established locations as well as local supply properties as large-scale retail assets, retail parks, DIY stores 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.

CONTACT

Christoph Heitmann Head of Investor & Public Relations Tel.: [phone] Fax: [phone] E-mail: [e-mail] Web: www.hamborner.de -----------------------------------------------------------------------------------------------------------------------

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