08.11.2019 TAG Immobilien AG  DE0008303504

DGAP-Adhoc: TAG Immobilien AG to enter the Polish residential-for-rent market


 

DGAP-Ad-hoc: TAG Immobilien AG / Key word(s): Takeover/Real Estate
TAG Immobilien AG to enter the Polish residential-for-rent market

08-Nov-2019 / 13:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


TAG to enter the Polish residential-for-rent market; acquisition of Vantage Development via tender offer secured by 100% commitment of selling shareholders

- Vantage Development shareholders have entered into an investment agreement with TAG to sell all their shares for a total net consideration of c.EUR 85m

- Mid-term target of c. 8,000 to 10,000 residential rental units in Poland; Vantage Development's pipeline includes c. 5,300 residential units, thereof up to c. 3,400 units available for the letting business

- Growing Polish residential-for-rent market as a regional expansion of TAG's business model; Vantage Development as a nucleus of TAG's rental portfolio in Poland


Hamburg (8 November 2019) - Today, TAG Immobilien AG ("TAG") signed via TAG Beteiligungs- und Immobilienverwaltungs GmbH, a 100% owned subsidiary, an investment agreement to acquire 100% of the shares in Vantage Development S.A. ("Vantage Development") with a simultaneous carve-out of its commercial real estate business which will be repurchased by the selling shareholders. Based on a tender offer price of PLN 11.50 per share, the total transaction consideration (calculated on the basis of a PLN/EUR exchange rate of 0.234) amounts to c. EUR 131m, of which c. EUR 46m relate to the commercial real estate business unit. As a result, the total net consideration for TAG amounts to c. EUR 85m for the residential business and platform of Vantage Development. The total transaction consideration will be fully paid by TAG's existing cash. The selling shareholders have committed to tender 100% of the shares outstanding. Closing of the transaction is expected in Q1 2020 and remains subject to mandatory anti-trust clearance. After completion of the transaction, delisting of Vantage Development's shares, currently listed on the Warsaw Stock Exchange, is intended.

Vantage Development is a leading real estate developer focused on the economically strong region of Wroclaw in the western part of Poland with proven track record of more than 4,000 units completed and delivered. The secured residential pipeline currently consists of several residential projects in Wroclaw representing a total of c. 5,300 units. Thereof, according to TAG's assumptions, up to c. 3,400 units could be held upon completion as yielding assets on the balance sheet to form the nucleus of TAG's rental portfolio in Poland, whilst the remainder of the development pipeline is already in the process of being sold down against cash between 2019 and 2021.

Contact
TAG Immobilien AG
Dominique Mann
Head of Investor & Public Relations
Phone +49 (0) 40 380 32 305
Fax +49 (0) 40 380 32 390
[email protected]




 

08-Nov-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: TAG Immobilien AG
Steckelhörn 5
20457 Hamburg
Germany
Phone: 040 380 32 0
Fax: 040 380 32 388
E-mail: [email protected]
Internet: http://www.tag-ag.com
ISIN: DE0008303504
WKN: 830350
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
EQS News ID: 908601

 
End of Announcement DGAP News Service

908601  08-Nov-2019 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 399,28 400,36 405,51 426,39 436,90 453,87 462,29
EBITDA1,2 198,30 206,40 214,70 222,30 226,10 233,50 236,40
EBITDA-Marge3 49,66 51,55 52,95 52,14 51,75 51,45
EBIT1,4 478,90 638,24 626,92 583,25 761,36 0,00 423,48
EBIT-Marge5 119,94 159,42 154,60 136,79 174,26 0,00 91,61
Jahresüberschuss1 313,67 488,21 456,37 402,62 585,60 117,28 -410,94
Netto-Marge6 78,56 121,94 112,54 94,43 134,04 25,84 -88,89
Cashflow1,7 124,47 159,62 154,41 253,99 164,03 133,56 291,94
Ergebnis je Aktie8 2,08 3,13 2,90 2,47 3,17 0,63 -2,26
Dividende8 0,66 0,75 0,82 0,88 0,93 0,00 0,57
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Deloitte

INVESTOR-INFORMATIONEN
©boersengefluester.de
TAG Immobilien
WKN Kurs in € Einschätzung Börsenwert in Mio. €
830350 12,675 2.224,32
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
21,13 10,53 2,01 8,36
KBV KCV KUV EV/EBITDA
0,77 7,62 4,81 22,73
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,00 0,00 0,00 28.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
14.05.2024 13.08.2024 13.11.2024 12.03.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
5,13% 14,45% -3,94% 115,20%
    
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu TAG Immobilien AG  ISIN: DE0008303504 können Sie bei EQS abrufen


Immobilien (Wohn) , 830350 , TEG , XETR:TEG