16.05.2018 PATRIZIA Immobilien AG  DE000PAT1AG3

DGAP-News: PATRIZIA Immobilien AG: PATRIZIA makes a strong start to 2018


 
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Quarterly / Interim
Statement
PATRIZIA Immobilien AG: PATRIZIA makes a strong start to 2018

16.05.2018 / 18:17
The issuer is solely responsible for the content of this announcement.

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- Q1 2018 operating income of EUR 42.7m, up from EUR 9.3m in Q1 2017
- TRIUVA acquisition contributes to significantly increased recurring fee
income
- Full-year guidance of EUR 85-100m operating income confirmed

PATRIZIA Immobilien AG has delivered a strong first quarter of 2018 with
good performance across its pan-European real estate investment management
business. Despite softer transaction markets compared to the prior year,
management and performance fees as well as net sales revenues and
co-investment income have been major drivers of the strong results.
Operating income more than quadrupled compared to the same period in 2017,
from EUR 9.3m to EUR 42.7m. Assets under management (AUM) increased to EUR
39.1bn, up from pro-forma EUR 38.7bn at the end of 2017.

Commenting on the results, PATRIZIA CFO Karim Bohn said: "The strong start
to 2018 validates our pan-European business strategy, delivering a
significant increase in recurring income while more than compensating for
what has been a weaker quarter overall in terms of transaction activity in
European markets. The investments we have made on behalf of our clients are
performing very well, and in some cases are significantly outperforming,
which underlines our strong position as global partner for pan-European real
estate investment."

For the first time, the results include the earnings contribution of TRIUVA,
the investment manager acquired by PATRIZIA in November 2017. The larger
volume of AUM - both from organic as well as inorganic growth - accounts for
the 63% year-on-year increase in management fees during the reporting
period. The most recent acquisition - Rockspring - will start to contribute
to results from Q2 2018 onwards. Due to closing of the transaction at the
end of Q1 2018, Rockspring's AUM are already included in the Q1 2018
reporting. Overall, the integration of both companies along with that of
Sparinvest Property Investors (now known as PATRIZIA Multi Managers) is
firmly on track.

The first-time application of IFRS 9 accounting standards, through which
co-investments are now reflected in the balance sheet at fair value, has
significantly increased PATRIZIA Immobilien AG's shareholders' equity by
almost EUR 300m year-to-date, further strengthening the Group's already
solid financial position. Together with net profit for the period of EUR
33m, total shareholders' equity as at 31 March 2018 amounts to around EUR
1.1bn.

PATRIZIA's strong performance in the first quarter is in line with company
expectations and therefore operating income guidance for the full year is
confirmed at EUR 85-100m.

Contact:
Martin Praum
Group Head of Investor Relations
Phone: +49 821 50910-402
investor.relations@patrizia.ag


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16.05.2018 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: investor.relations@patrizia.ag
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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686827 16.05.2018



INVESTOR-INFORMATIONEN
©boersengefluester.de
Patrizia Immobilien
WKN Kurs in € Einschätzung Börsenwert in Mio. €
PAT1AG 18,880 Halten 1.743,60
KGV 2019e KGV 10Y-Ø KBV KCV
23,60 18,87 2,38 101,37
Dividende '17e in € Dividende '18e in € Div.-Rendite '17
in %
Hauptversammlung
0,25 0,25 1,32 20.06.2018
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
09.05.2018 07.08.2018 14.11.2018 15.03.2018
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
4,41% 3,03% -2,35% 13,39%
       

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