Hahn-Immobilien-Beteiligungs AG
HAHN-Immobilien-Beteiligungs AG: Interim Report as of May 14, 2013
HAHN-Immobilien-Beteiligungs AG / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act] 14.05.2013 08:01 Interim report according to Article 37x of the WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Interim report of HAHN-Immobilien-Beteiligungs AG as of May 14, 2013 - Equity of EUR 98 million collected for investment products (previous year: EUR 3 million) - Stable gross income of EUR 3.10 million (previous year: EUR 3.23 million) - Consolidated earnings after taxes at EUR -0.34 million (previous year: Euro 0.06 million) - Positive earnings forecast confirmed for full year Bergisch Gladbach, May 14, 2013. HAHN-Immobilien-Beteiligungs AG has started off the new fiscal year within projections. The increase in recurring management income and investment income improved the Group's quality of earnings and further reduced dependence on non-recurring one-time income. During the first three months of the fiscal year, subscription orders with a total equity volume of some EUR 98 million were collected from private and institutional investors (prior year: EUR 3 million). This meant that the Hahn Group brought in more fund subscriptions in the first quarter than in the entire fiscal year 2012 (EUR 88 million in equity). As Thomas Kuhlmann, Board of Management member for HAHN-Immobilien-Beteiligungs AG, noted: 'The very good placement performance significantly exceeded our expectations. The equity collected supports our acquisition activities on the investment market for real estate and secures us a continual increase in recurring management income.' In its business with institutional investors, the Group made two acquisitions for the Luxembourg HAHN FCP special fund. The two properties, a hypermarket in Ennepetal and a retail warehouse center in Gevelsberg, were transferred to the fund during the first quarter. The investment volume for the retail properties totaled over EUR 20 million, bringing the property portfolio of HAHN FCP to 21 retail properties with an investment volume of EUR 410 million. Together with the equity commitments received in the first quarter, the Luxembourg-based special property fund that is managed jointly with LRI Invest S.A., significantly exceeded its original placement target of around EUR 300 million. Consequently, it closed in March with an equity volume of approximately EUR 360 million. In the business with private clients a new public fund went on sale at the end of March. The PWF 162 is investing EUR 12.5 million into a retail warehouse center in Bad Hersfeld. The Hahn Group had acquired the real estate in February 2013 and included it in its properties held for sale for the time being. The fund's placement is scheduled to be completed by the middle of 2013. Result of operations and financial position Recurring income from the fund and property management increased 7.1 percent to EUR 1.95 million (prior year: EUR 1.82 million). The investment income from co-investments also rose. The fact that no property transactions were completed in the first quarter had a counteracting effect, so that no positive earnings contribution could be generated from the sale and brokerage of properties. Against this background the Group's gross profit performed relatively stable at EUR 3.10 million (prior year: EUR 3.23 million). The net finance expenses amounted to EUR -1.05 million (previous year: Euro -0.3 million). Consolidated earnings after taxes came to EUR -0.34 million (previous year: EUR -0.06 million) which equals earnings per share of EUR -0.03 (previous year: EUR 0.00). Equity as of March 31, 2013 was EUR 29.7 million (year end 2012: EUR 29.8 million). In conjunction with higher total assets the equity ratio as of reporting date came to 26.4 percent (end of year 2012: 30.5 percent). Outlook Michael Hahn, CEO of HAHN-Immobilien-Beteiligungs AG: 'The strong demand from institutional investors for our specialized management services should continue in the further course of the year. In the business with private clients we also expect to see a sustained uptake from the second half of the year onwards. The details regarding the implementation of the AIFM Directive are nearing finalization, so that we now can set the organizational course that shall enable us the offer attractive products for our private investors also in the second half of the year.' The Hahn Group confirms its projections from the 2012 Annual Report, estimating to generate consolidated earnings after taxes in the range of EUR 2 to 3 million. This outlook assumes that the further legal enactment of the AIFM Directive will not include material changes to the current draft. Hahn Group For more than three decades already the Hahn Group acts as asset manager for retail properties developing the assets of investors. With its exclusive focus on the market segment for large-scale retail properties and the associated competence in value protection the Group holds a unique position in the market. At over 150 sites across Germany the Hahn Group manages assets of over EUR 2.3 billion. With the experience gained from the issue of about 170 closed-end real estate funds and institutional fund products, the Hahn Group aims for a high degree of investment security and strong returns on investment. To this end, it manages and controls the entire value-creation chain of the retail properties under its management. This is valuable workmanship with retail areas. More information on the Hahn Group is available online at www.hahnag.de. Contact Hahn Group Marc Weisener Buddestr. 14 51429 Bergisch Gladbach Telephone +49 2204-9490-118 E-mail: mweisener@hahnag.de 14.05.2013 DGAP's 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: HAHN-Immobilien-Beteiligungs AG Buddestrasse 14 51429 Bergisch Gladbach Germany Internet: www.hahnag.de End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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