DGAP-Adhoc
WCM Beteiligungs- und Grundbesitz-AG: WCM reports on the first quarter of 2015
WCM Beteiligungs- und Grundbesitz-AG / Key word(s): Quarter Results
21.05.2015 13:40
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Ad-hoc announcement according to § 15 WpHG
WCM reports on the first quarter of 2015
- Accelerated portfolio build-up
- Positive earnings - large portion of transaction costs already
recognised in first quarter
- Continued strong growth planned for the full year
Frankfurt, 21 May 2015 - WCM Beteiligungs- und Grundbesitz-AG (WCM AG,
ISIN: DE000A1X3X33) today announced figures for the first quarter of 2015,
which reflect the build-up of the Company's portfolio. WCM AG recognised
investment property totalling EUR 86.0 million as at 31 March 2015, up from
EUR 17.3 million at the close of 2014. This was due mainly to the fact that
the acquisition of three commercial properties that were announced back in
late 2014 was finalised in the second half of March. Naturally, the
transactions of WCM AG initiated in April have not yet been included in the
figures. Total assets increased from EUR 43.9 million as at 31 December
2014 to EUR 94.1 million as at 31 March 2015. The Group's equity rose by
approximately EUR 5.1 million to EUR 36.9 million.
Revenue in the first quarter of 2015 amounted to EUR 0.7 million and
includes initial rental income. In this context, it has to be noted that
revenue from rental income for the full quarter was limited to just one
commercial property. The three properties for which WCM AG did not assume
ownership until the second half of March contributed to revenue for only
two weeks. No revenue was generated in the first quarter of 2014. WCM AG
reports a consolidated profit of EUR 0.4 million for the first quarter of
2015; this compares to a loss of EUR 0.3 million in the first quarter of
2014. This figure already includes transactions costs of EUR 2.9 million
that were recognised as one-off charges.
WCM AG plans to continue on its dynamic growth trajectory during the course
of the year
About WCM AG
Reflecting its strategic realignment implemented in 2014, WCM Beteiligungs-
und Grundbesitz-AG (WCM AG) intends to position itself as one of the
leading commercial property companies in Germany. As a holder of office and
retail properties with a focus on major office locations, the company is on
a dynamic growth path. In the mid-term WCM AG plans to build a portfolio
with a value exceeding EUR 1 billion. The company utilises a comprehensive
network for the acquisition of properties and value-enhancing portfolio
management in order to generate long-term attractive rental income and a
steady cash flow. WCM AG also intends to leverage further opportunities
offered by the property market. The company's management, headed by CEO
Stavros Efremidis, has extensive experience in the German property market
in connection with the acquisition and management of properties and many
years of capital market experience. The company has substantial corporate
and trade tax loss carry-forwards. WCM AG (ISIN DE000A1X3X33) is listed on
the Frankfurt Stock Exchange's General Standard.
Press contact:
edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
069-905505-51
wcm@edicto.de
21.05.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: WCM Beteiligungs- und Grundbesitz-AG
Friedrich-Ebert-Anlage 36
60325 Frankfurt am Main
Germany
Phone: +49 (0)69 244 333 199
Fax: +49 (0)3212/4243 773
E-mail: info@wcm.de
Internet: www.wcm.de
ISIN: DE000A1X3X33
WKN: A1X3X33
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (General
Standard), Hamburg, Stuttgart; Regulated Unofficial Market in
Munich
End of Announcement DGAP News-Service
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