07.11.2016
PATRIZIA Immobilien AG DE000PAT1AG3
DGAP-News: PATRIZIA Immobilien AG: PATRIZIA increases guidance for 2016
DGAP-News: PATRIZIA Immobilien AG / Key word(s): Real Estate/9-month figures
PATRIZIA Immobilien AG: PATRIZIA increases guidance for 2016
07.11.2016 / 17:45
The issuer is solely responsible for the content of this announcement.
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Nine Month Report 2016
PATRIZIA increases guidance for 2016
- Guidance for operating income increased from at least 250m Euro to at
least 265m Euro
- Assets under management increased to 17.7bn Euro
- 3.6bn Euro of property transactions completed
- Significant improvement in operational performance delivered
Augsburg, 7 November 2016. PATRIZIA Immobilien AG has continued its
successful strategy for growth during 2016, reflected in a 6.6% uplift in
assets under management to 17.7bn Euro from 16.6bn Euro at the end of 2015.
Of this, 6.6bn Euro of the assets under management are located outside of
Germany. In the first nine months of 2016, property transactions totalling
3.6bn Euro were completed, comprising acquisitions of 2.1bn Euro and
divestments of 1.5bn Euro. In addition, purchase agreements of
approximately 2.1bn Euro were concluded, and it is expected that the
respective titles for 1.1bn Euro will be transferred in 2016. In the first
nine months of 2016, a total of 1.5bn Euro equity was raised from
institutional and private clients (50% more than in the same period last
year) for investments.
"Following a number of years focussed on our expansion, PATRIZIA has
created a strong European platform which is supporting a growing number of
international investors on their real estate investment strategies in
Europe," says Wolfgang Egger, the CEO of PATRIZIA Immobilien AG. "This
year, notable transactions have included the acquisition of the Astro Tower
in Brussels on behalf of a syndicate of Asian investors, and the
Commerzbank Tower in Frankfurt, the tallest building in Germany, on behalf
of a syndicate led by Korean investor Samsung SRA Asset Management."
In the first nine months of 2016, the operating result increased by 125% to
252.5m Euro (112.2m Euro in the same period last year). In 2016, following
the profitable sale of the Harald portfolio which followed the successful
sale of SÜDEWO in 2015, PATRIZIA once more proved its strong track record
as an investment manager. Excluding these sales, the business has strong
growth with the operating results for the period under review having almost
doubled to 43.9m Euro (24.1m Euro in the same period last year).
Due to the positive growth of PATRIZIA's operating business, the forecast
for the operating result is increased from at least 250m Euro to at least
265m Euro. PATRIZIA's ambition to increase assets under management this
year by 2bn Euro to approximately 18.6bn Euro is maintained.
For 2017 PATRIZIA expects the assets under management again to grow by 2bn
Euro net, assuming a transaction volume of about 4bn Euro. Based on that,
the management expects the operating income 2017 to be at least 55m Euro.
Further upside potential for the operating income derives from a higher
transaction volume, higher performance fees, as well as income from the
deployment of the 300m Euro available cash.
You can find the fully quarterly report here:
https://www.patrizia.ag/en/investor-relations/financial-reports/quarterly-
reports/
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager on the real
estate market in 15 European countries for more than 30 years. PATRIZIA's
range includes the acquisition, management, value increase and sale of
residential and commercial real estate over own licensed investment
platforms. As one of the leading real estate investment companies in
Europe, PATRIZIA operates as a respected business partner of large
institutional clients and retail clients in all major European countries.
Currently, the Company manages real estate assets worth around EUR 18
billion, primarily as a co-investor and portfolio manager for insurance
companies, pension fund institutions, sovereign funds, savings and
cooperative banks. For further information, please visit: www.patrizia.ag.
PATRIZIA Immobilien AG
The Managing Board
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: PAT1AG
Contact:
Investor Relations
Michael Tegeder
T +49 821 50910-401
[email protected]
Verena Schopp de Alvarenga
T +49 821 50910-351
[email protected]
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07.11.2016 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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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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518095 07.11.2016
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