05.08.2020 PATRIZIA AG  DE000PAT1AG3

DGAP-News: PATRIZIA AG: PATRIZIA reports strong H1 2020 results and confirms its FY 2020 guidance


 

DGAP-News: PATRIZIA AG / Key word(s): Half Year Results
PATRIZIA AG: PATRIZIA reports strong H1 2020 results and confirms its FY 2020 guidance

05.08.2020 / 17:30
The issuer is solely responsible for the content of this announcement.


PATRIZIA reports strong H1 2020 results and confirms its FY 2020 guidance

  • Operating income for H1 2020 of EUR 74.1m confirming resilience of business model
  • Total service fee income at EUR 171.0m virtually unchanged to last year, driven by continued business activity from PATRIZIA's global client base
  • Assets under management increased by 2.3% to EUR 45.5bn compared to year-end 2019
  • New equity entrusted to PATRIZIA up 30.8% y-o-y to EUR 0.6bn

Augsburg, 5 August 2020. PATRIZIA AG, a leading partner for global real assets, recorded an operating income of EUR 74.1m in H1 2020. This compares to EUR 79.0m operating income in the same period last year, when performance fees had an extraordinarily positive impact on bottom line results. Total service fee income - which combines management, transaction and performance fees - stood at EUR 171.0m in H1 2020, virtually unchanged to EUR 174.2m in H1 2019.

At the same time, clients entrusted PATRIZIA with new equity of EUR 0.6bn, an increase of 30.8%
y-o-y. Assets under management (AUM) continued to grow to EUR 45.5bn, an increase of 2.3% compared to year-end 2019.

Wolfgang Egger, CEO of PATRIZIA AG, said: "The Covid-19 pandemic led to lower overall investment and transaction activity in the real assets markets. However, PATRIZIA managed these exceptional circumstances well and has once again proved to be a stable and reliable business partner. Throughout the second quarter of 2020 PATRIZIA was able to successfully close on several high quality property acquisitions and disposals for its institutional, (semi-)professional and private investors and we are confident that we will emerge even stronger from this crisis."

Management fees stood at EUR 96.1m in H1 2020, slightly below the EUR 97.1m reported in the comparable period last year, which was however positively impacted by aperiodic effects of EUR 3.9m. Like for like management fees grew positively y-o-y by 3.1%. Transaction fees increased 67.0% y-o-y, from EUR 12.1m to EUR 20.3m, driven by continued activity for PATRIZIA's global clients. Performance fees of EUR 54.6m in H1 2020 remained a stable contributor to the overall financial results, although below last year's extraordinarily high levels of EUR 64.9m in H1 2019. The above-average investment performance achieved for clients is expected to generate further performance fees during the second half of 2020.

Karim Bohn, CFO of PATRIZIA AG, said: "PATRIZIA is successfully weathering the Covid-19 pandemic thanks to its resilient business model, rock-solid balance sheet and strong cash position. Our H1 2020 financial results are a solid base from which to achieve our guidance range of EUR 100.0m - 140.0m for FY 2020. The market fundamentals for our business model remain healthy, such as the long-term interest rate environment and increasing capital allocations to real assets by pension funds and insurance companies over the next years."

Available downloads:

  1. Half-Year Financial Report 2020
  2. H1 2020 Results Presentation
  3. Video - CFO Karim Bohn presents the H1 2020 Results
in EUR m H1 2019 H1 2020 % y-o-y Guidance range 2020
        min max
           
Management fees 97.1 96.1 -1.0% 190.0 200.0
Transaction fees 12.1 20.3 67.0% 30.0 40.0
Performance fees 64.9 54.6 -15.9% 80.0 110.0
Total service fee income 174.2 171.0 -1.8% 300.0 350.0
Net sales revenues and co-investment income 9.8 13.7 40.1% 20.0 20.0
Net operating expenses1) -99.5 -104.2 4.7% -210.0 -220.0
D&A, financial result and other items -5.5 -6.4 17.9% -10.0 -10.0
Operating income 79.0 74.1 -6.2% 100.0 140.0
 

¹ From 2020 onwards excluding non-capitalisable expenses for investments in the future

in EUR bn 31.12.
2019
30.06. 2020 % y-t-d Guidance range 2020
        min max
           
Assets under management 44.5 45.5 2.3% 46.5 48.0
 
in EUR bn H1
2019
H1 2020 % y-o-y Guidance range 2020
        min max
           
Equity raised 0.5 0.6 30.8%    
           
Transaction volume - signed 1.8 1.6 -12.1% 3.5 5.5
Transaction volume - closed 3.0 3.7 23.8%    
 

PATRIZIA: A leading partner for global real assets

As a company with operations around the world, PATRIZIA has been offering investment opportunities in real estate and infrastructure assets for institutional, semi-professional and private investors for 36 years. PATRIZIA manages more than EUR 45 billion in assets and employs over 800 professionals at 24 locations worldwide. Through its PATRIZIA Children Foundation, PATRIZIA is committed to social responsibility. The Foundation has helped over 220,000 children in need worldwide over the last 20 years. You can find further information at www.patrizia.ag

Contact:

Martin Praum
Head of Investor Relations
Phone: +49 (0)821 50910-402
[email protected]
 


05.08.2020 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 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
EQS News ID: 1110723

 
End of News DGAP News Service

1110723  05.08.2020 

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Die wichtigsten Finanzdaten auf einen Blick
  2015 2016 2017 2018 2019 2020 2021e
Umsatzerlöse1 384,86 817,88 249,57 350,63 398,70 301,69 0,00
EBITDA1,2 175,08 328,11 95,79 120,78 136,92 115,69 0,00
EBITDA-Marge3 45,49 40,12 38,38 34,45 34,34 38,35 0,00
EBIT1,4 168,02 321,98 87,11 78,55 81,36 73,38 130,00
EBIT-Marge5 43,66 39,37 34,90 22,40 20,41 24,32 0,00
Jahresüberschuss1 134,46 256,26 58,90 58,12 56,35 40,68 0,00
Netto-Marge6 34,94 31,33 23,60 16,58 14,13 13,48 0,00
Cashflow1,7 90,41 503,38 17,20 -53,35 56,62 82,87 0,00
Ergebnis je Aktie8 1,45 2,83 0,60 0,57 0,58 0,42 0,90
Dividende8 0,00 0,00 0,25 0,27 0,29 0,30 0,33
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - 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
Patrizia
WKN Kurs in € Einschätzung Börsenwert in Mio. €
PAT1AG 21,500 Halten 1.985,56
KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
20,28 21,55 0,94 24,88
KBV KCV KUV EV/EBITDA
1,64 23,96 6,58 16,10
Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
in %
Hauptversammlung
0,29 0,30 1,40 14.10.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
12.05.2021 05.08.2021 11.11.2021 18.03.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-3,87% -6,82% -18,10% -7,13%
    
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Immobilien (Wohn) , PAT1AG , PAT , XETR:PAT