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WCM Beteiligungs- und Grundbesitz-AG: WCM AG: Half-year results confirm growth targets
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0 KommentareDGAP-News: WCM Beteiligungs- und Grundbesitz-AG / Key word(s): Half
Year Results/Real Estate
WCM Beteiligungs- und Grundbesitz-AG: WCM AG: Half-year results
confirm growth targets
28.08.2015 / 09:00
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WCM AG: Half-year results confirm growth targets
- Positive half-year result of EUR 0.8 million
- Portfolio development on track
- Properties with EUR 437 million market value at 30 June 2015
Frankfurt, 28 August 2015 - Despite significant investments in its
portfolio, one year after its operative restart WCM Beteiligungs- und
Grundbesitz-AG (WCM AG, ISIN: DE000A1X3X33) reports positive group earnings
of EUR 0.8 million for the
1st half of 2015. After the strong 1st quarter of 2015, the expansion of
the property portfolio continued to progress successfully in the 2nd
quarter through the acquisition of 47 new properties.
'The strong figures for the first half of 2015 show that WCM AG is on the
right track. The clear focus on retail and office properties in combination
with good tenants as well as long leases is paying off. Just one year after
the operational restart of WCM AG, we can already report positive group
earnings. I am optimistic that this trend will continue in the 2nd half of
2015, and our portfolio will show even greater performance', says Stavros
Efremidis, CEO of WCM AG.
The rental income and hence also the revenues in the 1st half of 2015
amounted to EUR 2.2 million (H1/2014: EUR 0), while group earnings amounted
to EUR 0.8 million (H1/2014:
EUR -0.5 million). The revenues result from investments in commercial
properties purchased at the beginning of 2015 as well as since mid-March.
The transaction costs associated with the expansion of the property
portfolio in the 1st half of 2015 amounted to
EUR 2.9 million.
As of 30 June 2015, the total contractually secured property portfolio of
WCM AG amounts to 51 properties. The gross asset value of the property
portfolio amounted to c. EUR 437 million (as of 31 March 2015, EUR 81
million, 4 properties). Another property was acquired in July 2015, leading
to a total portfolio market value of c. EUR 447 million. The management
assumes the transfer of ownership of all properties to be completed by the
end of the year. The annual rental income of the current portfolio realises
a net income of c. EUR 30 million. The average remaining lease term is at
10 years.
'We were able to expand our portfolio significantly in the 1st half of
2015, and will continue to do so over the forthcoming months. Our goal is
to build up a property portfolio of more than EUR 1 billion in the medium
term', adds Stavros Efremidis.
The full half-year report is available for download in the Investor
Relations section under www.wcm.de.
About WCM AG
WCM Beteiligungs- und Grundbesitz-AG (WCM AG), with headquarters in
Frankfurt am Main, is a specialised commercial real estate company. As a
real estate proprietor, the focus is on long-term rental of high-quality
office and retail properties in the major office locations in Germany.
Since the operational restart in 2014, WCM AG has focused on an extensive
network for the purchase of property as well as on value-creating asset
management, in order to generate attractive long-term rental income and a
steady cash flow. As of 30 June 2015, the property portfolio comprised c.
EUR 437 million. In the medium term, WCM AG plans to build up a portfolio
of more than EUR 1 billion. The company has extensive loss carry forwards
in corporate and commercial tax. Shares in WCM AG are listed in the Prime
Standard of Deutsche Börse.
Press contact:
edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
+49 (0) 69-905505-51
wcm@edicto.de
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28.08.2015 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: WCM Beteiligungsund 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 (Prime
Standard), Hamburg, Stuttgart; Regulated Unofficial Market
in Munich
End of News DGAP News-Service
---------------------------------------------------------------------
390237 28.08.2015
WCM AG: Half-year results confirm growth targets
- Positive half-year result of EUR 0.8 million
- Portfolio development on track
- Properties with EUR 437 million market value at 30 June 2015
Frankfurt, 28 August 2015 - Despite significant investments in its
portfolio, one year after its operative restart WCM Beteiligungs- und
Grundbesitz-AG (WCM AG, ISIN: DE000A1X3X33) reports positive group earnings
of EUR 0.8 million for the
1st half of 2015. After the strong 1st quarter of 2015, the expansion of
the property portfolio continued to progress successfully in the 2nd
quarter through the acquisition of 47 new properties.
'The strong figures for the first half of 2015 show that WCM AG is on the
right track. The clear focus on retail and office properties in combination
with good tenants as well as long leases is paying off. Just one year after
the operational restart of WCM AG, we can already report positive group
earnings. I am optimistic that this trend will continue in the 2nd half of
2015, and our portfolio will show even greater performance', says Stavros
Efremidis, CEO of WCM AG.
The rental income and hence also the revenues in the 1st half of 2015
amounted to EUR 2.2 million (H1/2014: EUR 0), while group earnings amounted
to EUR 0.8 million (H1/2014:
EUR -0.5 million). The revenues result from investments in commercial
properties purchased at the beginning of 2015 as well as since mid-March.
The transaction costs associated with the expansion of the property
portfolio in the 1st half of 2015 amounted to
EUR 2.9 million.
As of 30 June 2015, the total contractually secured property portfolio of
WCM AG amounts to 51 properties. The gross asset value of the property
portfolio amounted to c. EUR 437 million (as of 31 March 2015, EUR 81
million, 4 properties). Another property was acquired in July 2015, leading
to a total portfolio market value of c. EUR 447 million. The management
assumes the transfer of ownership of all properties to be completed by the
end of the year. The annual rental income of the current portfolio realises
a net income of c. EUR 30 million. The average remaining lease term is at
10 years.
'We were able to expand our portfolio significantly in the 1st half of
2015, and will continue to do so over the forthcoming months. Our goal is
to build up a property portfolio of more than EUR 1 billion in the medium
term', adds Stavros Efremidis.
The full half-year report is available for download in the Investor
Relations section under www.wcm.de.
About WCM AG
WCM Beteiligungs- und Grundbesitz-AG (WCM AG), with headquarters in
Frankfurt am Main, is a specialised commercial real estate company. As a
real estate proprietor, the focus is on long-term rental of high-quality
office and retail properties in the major office locations in Germany.
Since the operational restart in 2014, WCM AG has focused on an extensive
network for the purchase of property as well as on value-creating asset
management, in order to generate attractive long-term rental income and a
steady cash flow. As of 30 June 2015, the property portfolio comprised c.
EUR 437 million. In the medium term, WCM AG plans to build up a portfolio
of more than EUR 1 billion. The company has extensive loss carry forwards
in corporate and commercial tax. Shares in WCM AG are listed in the Prime
Standard of Deutsche Börse.
Press contact:
edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
+49 (0) 69-905505-51
wcm@edicto.de
---------------------------------------------------------------------
28.08.2015 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.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: WCM Beteiligungsund 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 (Prime
Standard), Hamburg, Stuttgart; Regulated Unofficial Market
in Munich
End of News DGAP News-Service
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390237 28.08.2015
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