DGAP-News HAMBORNER REIT AG completes 2020 financial year with further growth in revenue and earnings - Preliminary figures underline profitability and portfolio stability
DGAP-News: HAMBORNER REIT AG / Key word(s): Preliminary Results
HAMBORNER REIT AG completes 2020 financial year with further growth in revenue and earnings - Preliminary figures underline profitability and portfolio stability
- Income from rents and leases rises by 3.6% to €88.2 million
- FFO up 2.4% year-on-year at €55.6 million
- Vacancy rate with 1.8% still at extremely low level
- Successful progress in portfolio optimisation
- NAV per share: €11.05
- Dividend proposal likely in line with previous year
SUCCESSFUL 2020 FINANCIAL YEAR
Duisburg, 4 February 2021 - HAMBORNER REIT AG enjoyed another successful financial year according to the preliminary and unaudited figures published today - in spite of the coronavirus pandemic. Income from rents and leases amounted to €88.2 million in the past year, up by €3.0 million or 3.6% as against 2019. Funds from operations (FFO), the key operating earnings indicator, rose by 2.4% in the past year to €55.6 million (previous year: €54.3 million). FFO per share increased accordingly to €0.69, thus bettering the previous year's record figure by another cent. The targets for revenue and income for the 2020 financial year announced in July 2020 were therefore fully met or even outperformed.
The vacancy rate remained at an extremely low level of 1.8% in 2020. The company's financial situation is likewise comfortable. The loan-to-value (LTV) ratio was 44.5% as at 31 December 2020 (previous year: 42.4%). The REIT equity ratio of 54.5% (previous year: 57.3%) was still well in excess of the 45% required under the German REIT Act.
The company added three high-quality, newly built office properties and a retail centre in an excellent location to its portfolio in 2020. The total investment volume was €101.4 million. The properties have already been transferred to the HAMBORNER portfolio and will contribute around €5.0 million to income from rents and leases in future.
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