DGAP-News 405 0 Kommentare KWG Kommunale Wohnen AG: KWG shows successful performance in H1-2014

DGAP-News: KWG Kommunale Wohnen AG / Key word(s): Interim Report/Half
Year Results
KWG Kommunale Wohnen AG: KWG shows successful performance in H1-2014

14.08.2014 / 08:00

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- Turnover reaches EUR 30.2 mn (prev. EUR 31.7 mn)
- Earning power increased by profitable real estate sales (EUR 8.0 mn)
- Positive outlook for H2-2014

Hamburg - 14 August 2014 - KWG Kommunale Wohnen AG, a long-term oriented
property holding company of residential real estate in which Austrian
conwert Immobilien Invest SE holds a 77% majority stake, shows a successful
performance in the first half of 2014.

Increasing profitability of KWG-portfolio
The positive development is characterized by the successful alignment of
the real estate portfolio of KWG's real estate portfolio. Due to profitable
portfolio sales turnover declined slightly from EUR 31.7 mn to EUR 30.2 mn.
With EUR 22.2 mn the net rental income was nearly kept on the previous
year's level of EUR 22.5 mn.

In line with the successful adjustment of the real estate portfolio the
lettable area was reduced by approx. 25,000 m². The average net rental
income per m² in the core portfolio increased from EUR 4.97 to EUR 5.11.
This development reflects the increasing profitability of the
KWG-portfolio. With Funds from Operations of EUR 1.9 mn (prev. EUR 3.4 mn)
and gains from property sales of EUR 8.0 mn the earnings power of the
company shows a positive development. Earnings before interest and taxes
reached EUR 8.3 mn.

Positive outlook for H2-2014
The management board expects a continuous positive development of KWG in
the second half of the fiscal year 2014 due to a continuous optimization of
the real estate portfolio. With approx. EUR 30 mn net rental income shall
be kept on the previous year's level. The earnings before interest and
valuation gains are expected to reach approx. EUR 5 mn.

Further information
In line with the preparation of the half year report 2014 the
IFRS-consolidated statement of H1-2013 has been restated.
The H1 report is available for download on the corporate website at
http://www.kwg-ag.de/en/investor-relations/

Contact
KWG Kommunale Wohnen AG
Jan Hutterer
Alstertor 9
20095 Hamburg
Tel.: +49 (0)40 226 30 88-100
eMail: ir@kwg-ag.de
www.kwg-ag.com

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Language: English
Company: KWG Kommunale Wohnen AG
Alstertor 9
20095 Hamburg
Germany
Phone: 040 22 63 088 100
Fax: 040 22 63 088 200
E-mail: ir@kwg-ag.de
Internet: www.kwg-ag.de
ISIN: DE0005227342
WKN: 522734
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart; Frankfurt in Open Market (Entry
Standard)

End of News DGAP News-Service
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