DGAP-News
YOUNIQ AG publishes Q1 2013 results
DGAP-News: YOUNIQ AG / Key word(s): Quarter Results/Miscellaneous
YOUNIQ AG publishes Q1 2013 results
17.05.2013 / 07:55
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- Further EUR 3.6 million of disposals from 'Renting and Trading' portfolio
- Property-related operating expenses within continuing business improved
to EUR 0.7 million (Q1/2012: EUR 0.4 million)
- EBIT of EUR -1.1 million incurred (Q1/2012: EUR 0.5 million)
Frankfurt/Main, May 17, 2013 - In the first quarter of 2013, the YOUNIQ
Group continued to focus on divesting properties from its 'Renting and
Trading Real Estate' area that do not form part of the core business.
Disposals of EUR 3.6 million were notarially recorded in the period under
review. Overall, the YOUNIQ Group generated earnings before interest and
tax (EBIT) of EUR -1.1 million in the first quarter of 2013 (Q1/2012: EUR
0.5 million). This is being particularly attributable to the fact
that no new plots of land were acquired for further project developments in
the core business of 'YOUNIQ - Student Housing'.
Rental income at Group level was boosted to EUR 2.5 million (Q1/2012: EUR
2.1 million). This growth is primarily attributable to the fact that the
properties in Karlsruhe, Greifswald and Munich, which were sold and leased
back as part of the MPC deal, have meanwhile been fully rented. This
increase is nevertheless offset by a similar level of expenses arising from
the disbursement of the fixed general lease payment to MPC.
Property-related operating expenses within the continuing business improved
to EUR 0.7 million (Q1/2012: EUR 0.4 million). The company incurred a EUR
-0.3 million loss from changes in valuation of investment properties in
these operations (Q1/2012: EUR 1.0 million).
The total consolidated assets of the YOUNIQ Group reported a slight
increase to EUR 160.1 million as of March 31, 2013 (December 31, 2012: EUR
157.6 million), with this increase reflecting additions of EUR 7.5 million
in the 'YOUNIQ - Student Housing' segment arising from further investments
in development properties. This was offset by a EUR 3.5 million fall in
real estate assets in the 'Renting and Trading Real Estate' segment due to
further disposals. The equity ratio stood at 49.4% as of March 31, 2013
(December 31, 2012: 51.5%).
The quarterly financial report as of March 31, 2013 will be available for
downloading during the course of today on the company's website at
www.youniq-group.de within the Investor Relations area.
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