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POLIS Immobilien AG: POLIS Immobilien publishes preliminary figures for 2013 - Seite 2
As modernised properties were successfully let to new tenants and existing
leases were renewed at better conditions, POLIS achieved a positive
valuation result for many of its investment properties. Due to expiring
leases, maintenance requirements or changed rent forecasts at individual
locations, the market values of some properties showed a negative trend. In
particular, the valuation result was reduced by EUR 2.2 million due to the
depreciation of a property in Frankfurt am Main. The sole tenant had moved
out and the property will now be fully modernised. On balance, the
investment properties achieved a pleasant valuation result of EUR 1.9
million (previous year: EUR 2.4 million).
Good capitalisation will facilitate planned acquisitions in 2014
Over the past three years, POLIS achieved a good letting performance, which
has laid the basis for a sustainable improvement in their key earnings
figures. Together with the excellent capitalisation, they will enable the
company to seize opportunities for acquisitions as they arise. 'Our still
high equity ratio of 48 percent, considerable liquid funds and unused
credit lines will facilitate the acquisition of new properties,' said
Michael Piontek, Chief Financial Officer of POLIS. 'Moreover, the A-rating
recently awarded to our company will make it easier to finance the
acquisition of new properties and give us access to additional sources of
finance.'
The Annual Report for the year ended 31 December 2013 will be made
available for downloading on the company's website at
www.polis.de/english/IR/berichte.php on 27 March 2014.
POLIS Immobilien AG, which was founded in Berlin in 1998, is a listed real
estate company that buys, refurbishes/revitalises, and manages office
properties for its own portfolio. The company focuses on one market
segment: office properties in inner-city locations at the most important
German office centres. The company acquires properties that are either
already renovated and are completely let, thereby generating stable cash
flow, or properties that are vacant or require modernisation, and which
offer specific value appreciation potential. This potential may be realised
by corresponding modernisation measures or full revitalisation. As of 31
December 2013, POLIS Immobilien's real estate portfolio comprised a total
of 26 properties with a market value of around EUR 316 million. POLIS
Immobilien shares are listed on the regulated market (Prime Standard, ISIN:
DE0006913304) of the Frankfurt Securities Exchange. Further information can
has laid the basis for a sustainable improvement in their key earnings
figures. Together with the excellent capitalisation, they will enable the
company to seize opportunities for acquisitions as they arise. 'Our still
high equity ratio of 48 percent, considerable liquid funds and unused
credit lines will facilitate the acquisition of new properties,' said
Michael Piontek, Chief Financial Officer of POLIS. 'Moreover, the A-rating
recently awarded to our company will make it easier to finance the
acquisition of new properties and give us access to additional sources of
finance.'
The Annual Report for the year ended 31 December 2013 will be made
available for downloading on the company's website at
www.polis.de/english/IR/berichte.php on 27 March 2014.
POLIS Immobilien AG, which was founded in Berlin in 1998, is a listed real
estate company that buys, refurbishes/revitalises, and manages office
properties for its own portfolio. The company focuses on one market
segment: office properties in inner-city locations at the most important
German office centres. The company acquires properties that are either
already renovated and are completely let, thereby generating stable cash
flow, or properties that are vacant or require modernisation, and which
offer specific value appreciation potential. This potential may be realised
by corresponding modernisation measures or full revitalisation. As of 31
December 2013, POLIS Immobilien's real estate portfolio comprised a total
of 26 properties with a market value of around EUR 316 million. POLIS
Immobilien shares are listed on the regulated market (Prime Standard, ISIN:
DE0006913304) of the Frankfurt Securities Exchange. Further information can
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