14.03.2018
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA delivers excellent performance across a stronger pan-European platform in 2017
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Final Results
PATRIZIA Immobilien AG: PATRIZIA delivers excellent performance across a
stronger pan-European platform in 2017
14.03.2018 / 17:35
The issuer is solely responsible for the content of this announcement.
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- 14% YOY increase in operating income to EUR 82m
- Operating income in the range of EUR 85-100m expected for 2018, growth of
up to 22%
- Dividend of EUR 0.25 per share or equivalent in shares to be paid to
shareholders
PATRIZIA Immobilien AG announces that it exceeded its earnings forecast for
2017, delivering double-digit growth in operating income, assets under
management (AUM) and transaction volumes in a year which featured further
focus on growing and broadening its pan-European platform for the benefit of
PATRIZIA's institutional and private investors.
Superior returns achieved for investors resulted in attractive performance
fees while the strong and diversified pan-European platform drove growth in
stable asset management fees. Both contributed to the increase in operating
income of 14% to EUR 82m from the adjusted 2016 level of EUR 72m. AUM,
including PATRIZIA Multi Managers - formerly Sparinvest Property Investors -
grew 18% to EUR 21.9bn at year end 2017, a higher than expected increase of
EUR 3.3bn, EUR 2.2bn organically, over the reporting period. Transaction
volumes rose 17% year-on-year to EUR 6.0bn.
Wolfgang Egger, CEO of PATRIZIA Immobilien AG, commented: "Our excellent
results underline the outstanding year PATRIZIA had in 2017 and demonstrate
our strength as a partner for clients. We have a unique opportunity to lead
in our industry based on our market presence in Europe and build even deeper
relationships with a more diversified client base. We will further
strengthen our pan-European offering for a global investor base that is
looking for stability, diversification, choice and best-in class services.
And we will continue to broaden our product offering across markets,
sectors, investment styles and risk profiles."
PATRIZIA raised and successfully deployed EUR 2.2bn equity on behalf of
institutional and private clients in 2017 - balanced across German and
international investors - meaning that, since 2012, PATRIZIA has invested
more than EUR 10bn equity from institutional clients. Over the same period,
the Group has executed transactions worth around EUR 30bn. In total,
PATRIZIA secured EUR 3.5bn of acquisitions in 2017, an increase of 9% on the
prior year (2016: EUR 3.2bn) and EUR 2.5bn of sales which is up by 32%
(2016: EUR 1.9bn). PATRIZIA was active across Europe with acquisitions
completed in key markets, including Germany, the UK, Ireland, the Nordics
and the Netherlands. All of this transaction activity generated excellent
performance for clients.
The fourth quarter of 2017 was notable for the announced acquisitions of
Rockspring, TRIUVA and PATRIZIA Multi Managers, increasing PATRIZIA's pro
forma AUM to approximately EUR 39bn once all transactions complete. These
acquisitions significantly strengthen PATRIZIA's market presence in Europe
enabling the Group to provide clients better access to European markets and
an even broader product range across sectors, investment styles and risk
classes.
In short, PATRIZIA over-delivered on organic and inorganic growth in 2017.
Based on the expected continued organic growth, and including the earnings
contribution from the acquired companies, PATRIZIA expects to increase
operating income in 2018 by up to 22% to EUR 85-100m.
Following the successful year 2017, the Managing Board and Supervisory Board
of PATRIZIA have decided to propose, for the first time since 2007, to pay
shareholders a dividend of EUR 0.25 per share. The dividend would correspond
to a distribution ratio of 42% based on the EUR 55m Group net profit 2017
attributable to the shareholders, who will be given the option of receiving
the dividend payment in cash or in the form of shares in PATRIZIA Immobilien
AG.
Contact:
Martin Praum
Group Head of Investor Relations
Phone: +49 821 50910-402
[email protected]
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14.03.2018 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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664047 14.03.2018
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