YOUNIQ GmbH
YOUNIQ AG performs in line with forecast in first nine months of 2014
YOUNIQ AG / Key word(s): 9-month figures YOUNIQ AG performs in line with forecast in first nine months of 2014 Frankfurt/Main, 17 November 2014 – YOUNIQ AG, a leading German student housing provider, today published its 9M 2014 financial report with figures for the months from January to September. In the third quarter of 2014, YOUNIQ’s continuing operations benefited from the substantial progress in the letting of its properties in Mainz, Potsdam and Bayreuth in addition to significant cost-cutting measures. Overall, the result of operations of the Group in its continuing and discontinued operations was as expected in the first nine months of 2014. YOUNIQ is therefore confident of closing the year as a whole in line with its forecasts – subject to additional costs arising from the Corestate Ben BidCo AG acquisition process currently ongoing. Further progress was made in sustainably reducing administrative and personnel expenses, including the merger of subsidiaries and the change in stock market segment from the Prime Standard to the Entry Standard of the German Stock Exchange that has been initiated. EBIT in the core business “YOUNIQ – Student Housing” and in the other continuing operation “Services” amounted to EUR -1.5 million in the first nine months of 2014 after EUR -18.9 million in previous year’s period. The consolidated loss including the result of discontinued operations amounted to EUR 4.2 million (9M 2013: loss of EUR 31.0 million). In continuing operations the consolidated loss stood at EUR 1.9 million (9M 2013: loss of EUR 21.5 million), in discontinued operations it amounted to EUR 2.3 million (9M 2013: loss of EUR 9.5 million). Total assets declined to EUR 95.2 million as at 30 September 2014 (31 December 2013: EUR 125.5 million). The significant decline as against the end of 2013 was due to the property sales, which were offset by only minor investment spending in the first nine months 2014 on account of the largely advanced state of completion of the development properties. Net financial liabilities amounted to EUR 59.6 million as at the end of the third quarter of 2014 (31 December 2013: EUR 79.5 million). The YOUNIQ Group’s equity amounted to EUR 23.1 million as at 30 September 2014, corresponding to an equity ratio of 24.2% (31 December 2013: EUR 27.2 million, 21.7%). The quarterly financial report as at 30 September 2014 will be available for download later today under Investor Relations on the website www.youniq-group.de. Company profile YOUNIQ AG YOUNIQ AG has focused on student accommodation since 2009. The company covers a significant range of the value chain – ranging from the purchase of real estate and land, through project development including planning, planning permission procurement and construction, all the way through to commercial and technical management. YOUNIQ has developed into a leading provider for this segment with around 2,500 high-quality apartments. These properties are located at nine sites in Germany, including Munich, Karlsruhe, Frankfurt/Main, Mainz, Potsdam, Leipzig and Bayreuth. YOUNIQ bundles its many years of experience in project development and portfolio management for largely residential properties. YOUNIQ AG (ISIN: DE000A0B7EZ7, German Securities Identification Code/WKN: A0B7EZ) is listed on the Frankfurt Stock Exchange (Prime Standard). Further information is available from: www.youniq-group.de
17.11.2014 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. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | YOUNIQ AG | |
Eschersheimer Landstraße 6 | ||
60322 Frankfurt am Main | ||
Germany | ||
Phone: | +49 (0)69-2474720 | |
Fax: | +49 (0)69-247472100 | |
E-mail: | info@youniq.de | |
Internet: | www.youniq-group.de | |
ISIN: | DE000A0B7EZ7 | |
WKN: | A0B7EZ | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart | |
End of News | DGAP News-Service |
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