HAMBORNER REIT AG: Preliminary figures confirm stable revenue and revenue development in 2021

0

DGAP-News: HAMBORNER REIT AG / Keyword(s): Preliminary results
08.02.2022 / 07:00
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

HAMBORNER REIT AG: Preliminary figures confirm stable revenue and income development in 2021 – dividend proposal in line with previous year

– Income from rents and leases of €84.4m (-4.3%) and FFO of €53.1m (-4.5%)

– Sales and profit targets for the 2021 financial year met or exceeded

– Increase in the value of the portfolio at constant scope of 4.8%

– Significant increase in NAV per share to €12.11 (+9.6%)

– Vacancy rate with 1.9% still at an extremely low level

– Dividend proposal at the level of the previous year at €0.47 per share

COMPANY PERFORMANCE IN 2021

Duisburg, February 8, 2022 – HAMBORNER REIT AG has had another successful financial year according to the preliminary and unaudited figures published today. Despite the disposal of numerous commercial properties during the year 2021 in accordance with the strategy, rental income amounted to 84.4 million euros and was therefore only 4.3% below the level of l ‘last year. Funds from operations (FFO), the key operational performance indicator, was down 4.5% year-on-year to €53.1 million. The FFO per share was €0.65. The revenue and profit targets for the 2021 financial year have therefore been fully achieved or even exceeded.

The company’s financial and liquidity situation remains very comfortable. The equity ratio of the REIT was 61.0% as of December 31, 2021, an increase of 6.5 percentage points compared to the end of 2020. The loan-to-value (LTV) ratio decreased to 41.3% as of during the year (December 31, 2020: 44.5%).

The company also had a successful year in terms of operational activities. Despite continuing difficult market conditions, the company achieved several successes in its rental operations, some of them significant, and concluded follow-up leases or renewals for approximately 140,000 m² of leasable area (previous year: 102,000 m²) . Thanks to the success of asset management activities, both the occupancy rate (98.1% according to the EPRA definition) and the average residual lease term (6.1 years) remained at a high and constant level at the end of 2021.

PORTFOLIO DEVELOPMENT

In line with its strategy, the company added three attractive office buildings and a modern DIY store with a garden center to its portfolio in 2021. The total investment volume amounted to 79.6 million euros. While the office buildings in Mainz, Stuttgart and Münster have already been transferred to the HAMBORNER portfolio, the DIY store in Freiburg is expected to be transferred in the first quarter of 2022.

At the same time, HAMBORNER systematically pursued the optimization of its real estate portfolio and signed sales contracts for two other city center assets in Siegen and Lemgo. The total sale price is at the level of the fair value of the buildings during their last appraisal at around 13.6 million euros. Following the closing of the transactions, the proportion of main street commercial properties will be reduced to only three assets, representing 2.3% of the total volume of the portfolio.

The total volume of investments in the 2021 financial year amounted to 132.3 million euros. In addition to six high street assets, three local supply properties were sold for a total of €41.9 million as part of HAMBORNER’s active portfolio management approach. On average, the sale prices were 4.1% higher than the fair values ​​determined at December 31, 2020.

As usual, the company commissioned third-party expert Jones Lang LaSalle to value its real estate portfolio at the end of 2021. Based on the revaluation, the market value of the portfolio (at constant perimeter) was up by 70, 0 million euros or 4.8%. The increase is notably due to a positive development in the value of the local supply properties.

Taking into account the revaluation and the transactions already carried out, HAMBORNER has 68 buildings for a total value of €1,604 million as of December 31, 2021. The Net Revalued Asset (NAV) per share is up sharply by 9.6% compared to report at the end of 2020 at €12.11 (€11.05).

“The results of this year’s valuation, which translate into a pleasant increase in NAV per share, underline the high quality of our real estate portfolio and corroborate our strategic orientation, in particular with regard to the planned continued expansion of the portfolio,” said Niclas Karoff. , CEO of HAMBORNER REIT AG.

The company will release its final figures for 2021 and guidance for fiscal year 2022 as part of its annual report release on March 17, 2022.

DIVIDEND

In line with the continued strong commercial performance in 2021, the Management Board intends to propose to the Ordinary General Meeting a dividend at the level of the previous year of €0.47 per share. Based on the current share price, this would correspond to a dividend yield of approximately 4.8%.

PRELIMINARY FINANCIAL FIGURES AND PORTFOLIO AT DECEMBER 31, 2021

2021
preliminary

2020

Change

Income from rents and leases

€84.4 million

€88.2 million

-4.3%

Operational results

€31.8 million

-€0.9m

n / A

Profit for the period

€54.3 million

-€9.3m

n / A

of which proceeds from the sale of buildings

€36.4 million

€7.1 million

n / A

Funds from operations

€53.1m

€55.6m

-4.5%

Funds from operations (FFO) per share

€0.65

€0.69

-5.4%

REIT equity ratio

61.0%

54.5%

+6.5%-points

Loan to value (LTV)

41.3%

44.5%

-3.2% points

Net revalued asset (NAV) EPRA

€984.9 million

€890.7 million

+10.6%

EPRA net asset value (NAV) per share

€12.11

€11.05

+9.6%

EPRA net tangible assets (NTA)

€984.4 million

€890.2 million

+2.4%

EPRA Net Tangible Assets (NTA) per share

12,10 €

€11.05

+9.5%

Fair value of the real estate portfolio

€1,604.0 million

€1,624.8m

-1.3%

EPRA vacancy rate

1.9%

1.8%

+0.1%-points

WALT

6.1 years

6.3 years

-0.2 years

ABOUT HABORNER REIT AG

HAMBORNER REIT AG is an SDAX-listed public company that operates exclusively in the real estate sector and positions itself as a portfolio holder of high-yielding commercial properties. The company generates sustainable rental income based on a diversified portfolio of properties spread across Germany with a total value of around 1.6 billion euros. The portfolio focuses on modern office properties on well-established sites as well as attractive local supply properties such as large-scale retail assets, retail parks and DIY stores in major German cities and centers medium sized.

HAMBORNER REIT AG is distinguished by its many years of experience in the real estate and capital market, its consistent and sustainably attractive dividend strategy and its lean and transparent corporate structure. The company is a registered real estate investment trust (REIT) and enjoys exemption from corporation tax and business tax at the corporate level.

CONTACT

Christopher Heitman
Head of Investor and Public Relations
Phone. : +49 (0)203 54405-32
Email: [email protected]
The Web: www.hamborner.de

08.02.2022 Broadcast of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP distribution services include regulatory announcements, financial/corporate news and press releases.
Archive at www.dgap.de

Share.

Comments are closed.