EQS-Adhoc
Gutburg Immobilien S.A.: Favorable development thanks to active management
EQS Group-Ad-hoc: Gutburg Immobilien S.A. / Key word(s): Final Results
Gutburg Immobilien S.A.: Favorable development thanks to active
management
27.04.2015 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.
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News Release
Gutburg Immobilien develops favorably thanks to active management
Luxembourg, April 27, 2015 - Gutburg Immobilien S.A.(consecutively
"Gutburg Immobilien") recorded very positive business developments during
the financial year 2014 and forcefully pursued its strategy to further
increase the attractiveness of the offered living spaces as well as the
surrounding grounds. The foundation laid with the establishment of a new
company and financing structure proved its worth and led - thanks to
efficient property management - to improved results.
Revenue from rents recorded during the financial year 2014 grew by 2.4% to
EUR 23.2 million, thereby raising the monthly net rental income at the end
of the reporting period to EUR 1.98 million. Compared to the prior year,
this corresponds to a satisfactory increase of 3.0%. On an annualized
basis, net rental income from rents thus rose to EUR 23.8 million. Total
rented floor space adjusted for portfolio optimization amounted to 448'287
square meters at year-end 2014, against 452'952 square meters at the end of
the prior year. During 2014, operating emphasis has been placed a little
less on the further reduction of the vacancy rate, but more on the
consistent increase of the portfolio rents. Overall over 1,700 rental
increase requests have been issued and implemented. The fact that close to
100 percent of the tenants have accepted the requested increases speaks to
the strength of the Gutburg Immobilien portfolio locations. Despite the
broadly applied rental income increases, the vacancy rate has remained
virtually stable at 12.6% as at December 31, 2014, against 12.3% at the end
of December 2013. Continued population growth in cities such as Leipzig,
Halle and Cottbus result in increasing rents at the important locations of
Gutburg Immobilien. New rentals could be concluded with rents by 4.6%
higher on average than compared to prior year. Thus the average portfolio
rent increased from EUR 4.24 to EUR 4.42 per square meter. This average
News Release
Gutburg Immobilien develops favorably thanks to active management
Luxembourg, April 27, 2015 - Gutburg Immobilien S.A.(consecutively
"Gutburg Immobilien") recorded very positive business developments during
the financial year 2014 and forcefully pursued its strategy to further
increase the attractiveness of the offered living spaces as well as the
surrounding grounds. The foundation laid with the establishment of a new
company and financing structure proved its worth and led - thanks to
efficient property management - to improved results.
Revenue from rents recorded during the financial year 2014 grew by 2.4% to
EUR 23.2 million, thereby raising the monthly net rental income at the end
of the reporting period to EUR 1.98 million. Compared to the prior year,
this corresponds to a satisfactory increase of 3.0%. On an annualized
basis, net rental income from rents thus rose to EUR 23.8 million. Total
rented floor space adjusted for portfolio optimization amounted to 448'287
square meters at year-end 2014, against 452'952 square meters at the end of
the prior year. During 2014, operating emphasis has been placed a little
less on the further reduction of the vacancy rate, but more on the
consistent increase of the portfolio rents. Overall over 1,700 rental
increase requests have been issued and implemented. The fact that close to
100 percent of the tenants have accepted the requested increases speaks to
the strength of the Gutburg Immobilien portfolio locations. Despite the
broadly applied rental income increases, the vacancy rate has remained
virtually stable at 12.6% as at December 31, 2014, against 12.3% at the end
of December 2013. Continued population growth in cities such as Leipzig,
Halle and Cottbus result in increasing rents at the important locations of
Gutburg Immobilien. New rentals could be concluded with rents by 4.6%
higher on average than compared to prior year. Thus the average portfolio
rent increased from EUR 4.24 to EUR 4.42 per square meter. This average