08.08.2016
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA reports successful first half across its European real estate business
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/Half Year
Results
PATRIZIA Immobilien AG: PATRIZIA reports successful first half across its
European real estate business
08.08.2016 / 18:00
The issuer is solely responsible for the content of this announcement.
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Excellent operating income in the first six months of the 2016 financial
year
PATRIZIA reports successful first half across its European real estate
business
- Operating income up 90% compared to the first half of 2015
- Significant growth of income from management services
- Real estate assets under management increased to EUR 17.2 billion
- Guidance for 2016 confirmed
Augsburg, 8 August 2016. PATRIZIA Immobilien AG had a very successful first
half of 2016 across its European real estate business. Europe-wide,
PATRIZIA was involved in approximately EUR 2.8 billion of real estate
transactions. The company acquired EUR 1.5 billion of real estate and sold
EUR 1.3 billion, including the 'Harald' portfolio comprising approximately
13,500 residential units for EUR 1.0 billion. "Due to the increasingly
complex characteristics driving profitable real estate investments, the
requirement for an internationally experienced manager across all property
types, who is able to professionally identify and manage real estate, is
more important than ever before," said Wolfgang Egger, CEO of PATRIZIA
Immobilien AG. The company raised over EUR 900 million of equity from
institutional and private clients during the first half of 2016, which is
more than twice as much as the first half of 2015.
Operating income increased significantly over the first six months of 2016
to EUR 231.8 million. The sale of the 'Harald' portfolio, which is now
recognised in the income statement, boosted this result. Even with the
'Harald' sale stripped out, the underlying figure increased by 90% to EUR
23.8 million compared to EUR 12.5 million in the first half of 2015. A
particularly positive development during the period was the increase of
income from services relating to the management of real estate investments.
Compared to the first half of 2015, these increased by over 34% to EUR 73.1
million, which is due to higher transaction volumes as well as growth in
the assets under management, which increased from EUR 16.6 billion by the
end of 2015 to EUR 17.2 billion at 30 June 2016.
Expansion of the international business was a key focus in the first half
of the year. PATRIZIA negotiated the development of an office building in
Manchester with the largest local authority Pension Fund in England. In
March, the acquisition of the well-known Astro Tower in Brussels was closed
on behalf of a Korean consortium. Also in March, a property portfolio with
1,275 residential units was purchased in the Netherlands on behalf of one
of Germany's largest institutional investors. In June, a development
project was purchased for the creation of approximately 200 new residential
units in London. In addition, PATRIZIA executed real estate acquisitions in
Denmark, Ireland and Spain.
In view of the strong development of the operating income in the first half
of the year, PATRIZIA confirms its guidance for the full year. Managed real
estate assets under management are expected to increase by EUR 2.0 billion
to EUR 18.6 billion and operating income is expected to be at least EUR 250
million, following EUR 155 million in the 2015 financial year while
European growth activities will continue further.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager on the real
estate market in 15 European countries for more than 30 years. PATRIZIA's
range includes the acquisition, 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 respected business partner of large
institutional clients and retail clients in all major European countries.
Currently, the Company manages real estate assets worth around 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, 8 August 2016
The report for the first half is available here:
www.patrizia.ag/en/investor-relations/financial-reports/quarterly-reports/
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstraße 26
86150 Augsburg
Listed: Official Market Frankfurt am Main (Prime Standard)
ISIN: DE000PAT1AG3
WKN: PAT1AG
Contact
Investor Relations
Michael Tegeder
T +49 821 50910-401
[email protected]
Verena Schopp de Alvarenga
T +49 821 50910-351
[email protected]
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08.08.2016 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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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, Tradegate Exchange
End of News DGAP News Service
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