17.03.2016
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA continues European growth successfully
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Final Results/Forecast
PATRIZIA Immobilien AG: PATRIZIA continues European growth successfully
17.03.2016 / 06:55
The issuer is solely responsible for the content of this announcement.
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Results increased yet again
PATRIZIA continues European growth successfully
- Operating income more than tripled to EUR 155.3 million (2014: EUR 50.2
million)
- Increase in assets under management by EUR 2.0 billion to EUR 16.6
billion
- Operating activities expanded to include European logistics division
and presence in Spain
- Guidance for 2016 confirmed: increase in operating income to at least
EUR 250 million and in assets under management by another EUR 2.0
billion expected
- Issuance of stock dividend planned in a ratio of 10:1
Augsburg, 17 March 2016. PATRIZIA Immobilien AG (ISIN DE000PAT1AG3) can
look back on an outstanding fiscal year 2015. The operating income more
than tripled to EUR 155.3 million and business activities were expanded to
15 European markets. "PATRIZIA's business model has proven that it works
successfully and profitably across Europe", said Wolfgang Egger, CEO of
PATRIZIA Immobilien AG. "We will continue to systematically pursue our
growth strategy. The expansion of our European operations offers a
considerable growth potential for our clients as well as for us."
The strong growth in the result is driven by PATRIZIA's very positive
development. The constant increase in assets under management over the past
few years is firstly reflected in increasing fee income from the management
of these assets. Secondly, PATRIZIA generates profits from the sale of
successfully managed investments which have increased in value - for
example by the sale of SÜDEWO and last year's acquisition and the
subsequent sale of the Harald portfolio with around 13,500 apartments. This
transaction will be closed in 2016.
Increase in assets under management driven by European growth
In 2015, the focus was once more on the expansion of international
operations. Assets under management increased by 14% to EUR 16.6 billion.
The growth of 41% in non-German assets to EUR 5.5 billion reflects the
increasing importance of the international business. One example is
PATRIZIA's acquisition of the building hosting London's famous "Madame
Tussauds" waxworks at a price of EUR 484 million on behalf of a well-known
Asian investor. The largest retail portfolio of 2015 worth EUR 346 million
was acquired in the Netherlands. In addition, PATRIZIA established
operations in Spain and set up a specialised division for European
logistics investments last year.
Significant rise in transaction volume and fee income
Last year, the transaction volume totalled EUR 7.2 billion following EUR
4.1 billion in 2014. EUR 4.2 billion of the transactions was accounted for
by acquisitions and EUR 3.0 billion by sales. Additionally, a positive
valuation effect of EUR 0.8 billion was generated for the managed
portfolio. Furthermore, fee income almost doubled to EUR 268.7 million
compared to EUR 140.0 million in 2014. As expected, performance-related
income climbed significantly due to the SÜDEWO sale to EUR 128.5 million
(2014: EUR 19.7 million); however, management fees increased considerably
to EUR 81.5 million (2014: EUR 68.1 million) and transaction-related
revenues rose to EUR 58.7 million (2014: EUR 52.2 million).
Another substantial increase in result expected for 2016
For 2016, PATRIZIA expects a significant contribution to the result from
the sale of the Harald portfolio. Operating income attributable to the
shareholders of PATRIZIA Immobilien AG is expected at at least EUR 250
million after deduction of transaction related taxes for Harald. Moreover,
European activities will be further expanded. With the organisational
structure and international platform, the foundation for the successful
future of PATRIZIA has been laid. "In 2016 and beyond, we will succeed in
establishing PATRIZIA as one of the leading European real estate investment
companies," emphasised Wolfgang Egger. Based on the trust institutional
investors have already placed in PATRIZIA, the company expects a further
increase in assets under management of around EUR 2.0 billion in the course
of 2016.
The Managing Board and the Supervisory Board of PATRIZIA propose to the
Annual General Meeting on 16 June 2016 to fully carry forward the
unappropriated profit to the new account. These funds will be used to
invest into PATRIZIA's continued, sustainable growth. Like in previous
years and in order to further increase the liquidity of the company's
share, new shares in a ratio of 10:1 shall be issued by means of a capital
increase from company funds. The full annual report can be downloaded at
www.patrizia.ag
About PATRIZIA Immobilien AG
PATRIZIA Immobilien AG has been active on the real estate market for more
than 30 years. Currently, the company has 800 employees and is active as an
investor and service provider in 15 European countries. PATRIZIA's range
includes the purchase, management, value increase and sale of residential
and commercial real estate over own licensed investment platforms. As one
of the leading real estate investment companies in Europe PATRIZIA operates
as a recognised business partner of large institutional investors and
retail investors in all major European countries and covers the entire
value chain. At present, the company manages real estate assets worth EUR
17 billion, primarily as a co-investor and portfolio manager for insurance
companies, pension fund institutions, sovereign funds, savings and
cooperative banks. For further information, please visit www.patrizia.ag.
The Managing Board
Augsburg, 17 March 2016
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg (Germany)
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: PAT1AG
Contact
Investor Relations
Michael Tegeder
T +49 821 50910-401
[email protected]
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17.03.2016 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.
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Language: English
Company: PATRIZIA Immobilien AG
Fuggerstraße 26
86150 Augsburg
Germany
Phone: +49 (0)821 - 509 10-000
Fax: +49 (0)821 - 509 10-999
E-mail: [email protected]
Internet: www.patrizia.ag
ISIN: DE000PAT1AG3
WKN: PAT1AG
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart; Terminbörse EUREX
End of News DGAP News Service
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