06.08.2018
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA with strong first-half results and increase in 2018 guidance
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Half Year Results
PATRIZIA Immobilien AG: PATRIZIA with strong first-half results and increase
in 2018 guidance
06.08.2018 / 18:38
The issuer is solely responsible for the content of this announcement.
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PATRIZIA with strong first-half results and increase in 2018 guidance
- Operating income up 106.6% to EUR 72.5m
- Total service fee income significantly higher than 2017 (EUR 135.8m vs EUR
88.1m)
- Guidance for full-year operating income increased to EUR 100-110m
PATRIZIA Immobilien AG announces that it has delivered a very successful
first six months of 2018 having boosted its operating income by 106.6% to
EUR 72.5m compared to the same period last year (EUR 35.1m). The significant
growth in assets under management (AUM) to EUR 39.6bn - up 81% from EUR
21.9bn in 2017 - due to the integration of the recent acquisitions of TRIUVA
and Rockspring, as well as organic growth, has led to the strong results on
PATRIZIA's key performance indicators.
Karim Bohn, Chief Financial Officer at PATRIZIA, commented: "The results for
the first half of 2018 continue to underline PATRIZIA's successful
pan-European real estate investment management platform. Both, organic and
inorganic growth contributed to the strong set of results. At the same time,
the integration of our recently acquired companies, especially TRIUVA and
Rockspring is well advanced and we will see first positive efficiency
effects already during the second half of 2018. The acceleration of the
efficiency effects and the respective improvement of our cost base results
in an increase of the guidance for our full-year operating income to EUR
100-110m, up from an earlier guidance of EUR 85-100m."
Total service fee income from January to June 2018 significantly increased
by 54% to EUR 135.8m compared to EUR 88.1m in the first six months of 2017.
Strong and recurring asset management fees (EUR 81.1m) and performance fees
(EUR 37.2m) also showed solid increases year-on-year - up 80.1% and 52.6%
respectively on H1 2017 - more than offsetting slightly lower transaction
fees (EUR 17.5m compared to EUR 18.7m in H1 2017).
Transaction volume has also increased year-on-year, up 69.8% to EUR 2.1bn in
a market environment with overall lower transaction activity compared to the
first six months last year. By 30 June 2018 PATRIZIA closed disposals of EUR
1.3bn and acquisitions of EUR 0.8bn for its institutional and private
clients. Despite the higher disposal volume, AUM increased in the first six
months of 2018 due to an existing Asian institutional client transferring
asset management mandates to PATRIZIA, reflecting increased trust in
PATRIZIA's pan-European investment management capabilities and asset
management track record. Beyond that further acquisitions were signed during
the first half of 2018 that will close in the second half of 2018 and hence
support PATRIZIA's growth in AUM this year.
Available downloads:
H1 interim report
H1 presentation
Contact:
Martin Praum
Group Head of Investor Relations
Phone: +49 821 50910-402
[email protected]
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06.08.2018 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.
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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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711303 06.08.2018
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