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| Datum : | 14.05.2014 |
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DGAP-IRE: HAHN-Immobilien-Beteiligungs AG: Interim Notification for 1. Quarter |
| Meldung : | HAHN-Immobilien-Beteiligungs AG / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act] 14.05.2014 08:05 Interim report according to Article 37x of the WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Interim Notification for 1. Quarter 2014 - EUR 160 million equity collected as per end of April - exceeds total for full year 2013 - Management income increases by 13.2 percent to EUR 2.44 million - Gross profit at EUR 3.04 million on prior year level (Q1 2013: EUR 3.10 million) - Earnings forecast for full year 2014 confirmed Bergisch Gladbach, May 14, 2014 - The Hahn Group recorded a successful start into the new fiscal year. One important milestone was the license from the BaFin (German Financial Supervisory Authority) for the subsidiary 'DeWert Deutsche Wertinvestment GmbH' to act as new independent capital management company. DeWert has already established two alternative investment funds (AIF) in accordance with the new law and received equity commitments in the three-digit million range. Complementing the encouraging start to the year, the recurring management income also registered a significant increase. The first three months of the new fiscal year saw equity commitments of EUR 60 million being collected from institutional investors. Together with the institutional tranche of over EUR 100 million that had been subscribed in April as part of a newly issued institutional individual fund, the volume of subscriptions at the time of publication amounted to around EUR 160 million equity. This total already clearly exceeds the entire prior year volume (2013: EUR 123 million). Said Board of Management member Thomas Kuhlmann: 'The positive trend from last year continues undiminished. We are seeing a very stable demand for indirect real estate investments. In the institutional sector we were able to react flexible to this by issuing two special AIFs. The new investment vehicles for professional and semi-professional investors have been very well received, which is borne out by the strong subscription volume of the first months.' New Business In the business with institutional investors, the Life retail warehouse center in Munich was acquired for the Luxembourg HAHN FCP fund at an investment volume of around EUR 35 million. The property offers around 8,000 m² in rental space. At the end of the first quarter the HAHN FCP special fund reports a total investment volume of over EUR 550 million. Furthermore, with the HAHN PRIMUS Retail Fund a new special AIF fund was issued with a targeted equity volume of EUR 100 million. Of these EUR 60 million were already placed with professional and semi-professional investors during the first quarter of 2014. In April the HAHN VZWL Retail Fund was issued as second special AIF. Conceptualized for an institutional German pension plan, this individual fund also has a targeted equity volume of EUR 100 million and is already fully subscribed. The capital commitments for the two funds will be called step by step over the coming quarters in line with the funds' investments. In the business with private customers, no investment funds were marketed during the first quarter, as the Hahn Group had already managed to place all public funds the year before ahead of the introduction of the KAGB (new German Investment Code). At present intense preparations are under way to have the first regulated public AIF issued in the summer presumably. Result of operations and financial position Management income for the first three months of the fiscal year climbed 13.5 percent from 2.15 to EUR 2.44 million. This increase was above all due to higher revenue from commissions from the fund management. The share in the profit and loss of associated companies and joint venture performed very stable as the RREBO joint venture developed according to plan. With fewer assets held for sale than in the corresponding prior year quarter, rental income was also down. Gross profit came to EUR 3.04 million which was almost on a level with last year (EUR 3.10 million). Higher legal and consulting expenses meant that the other operating expenses rose by EUR 0.3 million during the first quarter of 2014. The above mentioned decline in property assets held for sale saw a reduction in liabilities and a drop in interest rate expenses. Consolidated earnings after taxes amounted to EUR -0.56 million (Q1 2013: EUR -0.34 million), which equals earnings per share of EUR -0.04 (Q1 2013: EUR -0.03). The balance sheet total was down from EUR 92.7 million at the 2013 year end to EUR 88.7 million. With a net equity base of EUR 32.2 million, which was virtually unchanged from the year end 2013, the equity ratio climbed to 36.3 percent (2013 year end: 35.1 percent). Outlook Michael Hahn, CEO of HAHN Group, noted: 'We are well on track for a successful fiscal year. The strong inflows of funds for our investment vehicles allow us to swiftly expand the property assets under Hahn Group's management over the coming quarters. For new acquisitions we use the advantages of our asset management expertise to secure for our investors additional value enhancing potential. Even larger portfolio transactions are feasible for us.' The Hahn Group confirms its outlook from the Annual Report. For the full year 2014, the Board of Management expects to generate consolidated earnings after taxes in the range of EUR 2.2 to 3.2 million. These projections are based on the assumption that the sale of the new public AIF will start as planned during this year. The Hahn Group For more than three decades already the Hahn Group has specialised as asset and investment manager in large-scale retail properties. In its company history, the Hahn Group has successfully issued well over 170 investment funds. The current assets under management total well over EUR 2.4 billion. Given its comprehensive expertise in real estate and asset management, the Hahn Group offers its private, semi-professional and professional investors a true USP in its market segment. The Group manages and controls the entire value-creation chain of the retail properties under its management at over 150 different sites. This is creating value with retail space. More information on the Hahn Group is available online atwww.hahnag.de. Contact Hahn Group Marc Weisener Buddestr. 14 51429 Bergisch Gladbach Telephone +49 2204-9490-118 E-mail: mweisener@hahnag.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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