22.02.2017
Corestate Capital Holding S.A. LU1296758029
DGAP-News: Corestate Capital Holding S.A.: CORESTATE Continues Profitable Growth in Business Year 2016
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Final Results
Corestate Capital Holding S.A.: CORESTATE Continues Profitable Growth in
Business Year 2016
22.02.2017 / 07:45
The issuer is solely responsible for the content of this announcement.
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CORESTATE Continues Profitable Growth in Business Year 2016
- Adjusted Net Profit increases by c. 17 % to EUR 19.4 million (2015: EUR
16.6 million), Net Profit as reported grows significantly by c. 54 % to
EUR 15.6 million (2015: EUR 10.1 million)
- Earnings per Share increase by c. 31 % to EUR 1.47 / Share
- Attractive dividend policy: proposed distribution of 70 % of Adjusted
Net Profit
- Forecast 2017 excluding effects of acquisition of Hannover Leasing
confirmed: Increase in Aggregate Revenues and Gains to EUR 75 to 80
million (2016: EUR 59.7 million) and in Net Profit to EUR 30 to 32
million (2016: EUR 15.6 million)
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated real estate
investment manager and co-investor based in Luxembourg, has completed
another successful year. Compared to the previous year, Aggregate Revenues
and Gains increased by c. 27 % to now EUR 59.7 million (2015: EUR 47.1
million) while the Net Profit as reported is up by c. 54 % to EUR 15.6
million (2015: EUR 10.1 million), translating into an increase in Earnings
per Share of c. 31 % to EUR 1.47 / Share. Adjusted Net Profit (net of
certain one-off items) came in at EUR 19.4 million (2015: EUR 16.6
million). All key financials thus exceeded the previous year's results
considerably, and are slightly above the latest forecast that was raised in
December 2016.
Sascha Wilhelm, Chief Executive Officer of CORESTATE: "We have once again
demonstrated that the CORESTATE business model works successfully and
profitably. We are confident that we will be able to continue our
sustainable growth momentum in the next few years, thanks to our
continually growing client base. An increasing number of investors - among
them large institutional investors such as Bayerische Versorgungskammer -
trust in our capabilities as an investment manager and benefit from the
very high returns generated with our investment products. In the coming
months and years, we will continue to increase our assets under management
through longer-term investment products and larger transaction volumes.
Naturally, our shareholders will participate to an appropriate extent in
our company's success via our attractive distribution policy. At the Annual
General Meeting, we will propose a distribution of 70 % of the Adjusted Net
Profit."
Total transaction volume increased by c. 7 % to EUR 920 million, and the
volume of newly launched investment products rose by c. 45 % to EUR 735
million driven by strong demand for the company's highstreet retail and
microliving investment products both from institutional as well as semi-
institutional/private clients. As a result, Assets under Management
increased by c. 35 % to EUR 2.8 billion by year-end 2016. Following the
completion of the acquisition of Hannover Leasing Group, this figure is
projected to increase to c. EUR 16 billion, and CORESTATE's revenue
structure will be further strengthened by the substantial increase in
recurring revenues from long-term management contracts.
For 2017, CORESTATE expects another significant increase in Aggregate
Revenues and Gains to EUR 75 to 80 million (2016: EUR 59.7 million) and in
Net Profit to EUR 30 to 32 million (2016: 15.6 million). This forecast does
not include the effects of the acquisition of 94.9 % of the Hannover
Leasing Group, which is expected to be completed in the first half of this
business year. Completion of the transaction is still subject to the
conclusion of the owner control procedure of the German Federal Financial
Supervisory Authority, BaFin.
"With the successful capital increase, the initial public offering and the
acquisition of the Hannover Leasing Group, we have reached important
milestones in 2016 and charted the course for the company's successful
future development. We plan to, and will, establish CORESTATE as a leading
real estate investment manager in Europe in the business year 2017 and
beyond," emphasizes Sascha Wilhelm, Chief Executive Officer of CORESTATE.
See here for the full Annual Report:
http://ir.corestate-capital.com/websites/corestate_capital/English/5100/
financial-reports.html
IR Contact
Henryk Deter / Mirko Koch
Phone: +49 611 20585540 / [email protected]
PR Contact
Tom Zeller
Phone: +49 69 264867715 / Cell phone: +49 176 10430063 / [email protected]
About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is a real estate investment
manager and co-investor with EUR 16bn* in assets under management. As a
fully integrated real estate platform, CORESTATE offers its clients
combined expertise in the areas of investment and fund management as well
as real estate management services. The company operates as a respected
business partner of institutional clients and wealthy private investors
internationally. CORESTATE is headquartered in Luxembourg and has 26
offices including in Dusseldorf, Frankfurt, Madrid, Singapore and Zurich.
The company employs over 390 people and is listed on the Frankfurt Stock
Exchange. Further information is available at www.corestate-capital.com.
*The completion of the Hannover Leasing Group transaction is still subject
to the conclusion of ownership control procedures by the Federal Financial
Supervisory Authority, BaFin
Forward-Looking Statements
This release may contain forward-looking statements based on current
assumptions and forecasts made by our management. Various known and unknown
risks, uncertainties and other factors could lead to material differences
between the actual future results, financial situation, development or
performance of our company and the estimates given here. These factors
include those discussed in our public reports, which are available on our
website at [ir.corestate-capital.com]. The company assumes no liability
whatsoever to update these forward-looking statements or to conform them to
future events or developments. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date hereof.
-ENDS-
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22.02.2017 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: Corestate Capital Holding S.A.
35 avenue Monterey
L-2163 Luxembourg
Grand Duchy of Luxembourg
Phone: +352 (26) 637222
Fax: +352 (26) 637245
E-mail: [email protected]
Internet: www.corestate-capital.ch
ISIN: LU1296758029
WKN: A141J3
Listed: Regulated Unofficial Market in Berlin, Tradegate Exchange;
Open Market in Frankfurt (Entry Standard)
End of News DGAP News Service
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546413 22.02.2017
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