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HAMBORNER REIT AG enjoys successful first half and raises forecast for 2017

DGAP-News: HAMBORNER REIT AG / Key word(s): Half Year Results/Change in Forecast HAMBORNER REIT AG enjoys successful first half and raises forecast for 2017 08.08.2017 / 07:00 The issuer is solely responsible for the content of this announcement. Press Release

HAMBORNER REIT AG enjoys successful first half and raises forecast for 2017

- Significant increases in rental income (+ 19.7%) and FFO (+ 28.1%)

- Average borrowing rate drops further to 2.6%

- Forecast raised for rental income (18% to 20%) and FFO (EUR44 to EUR45 million)

Duisburg, 8 August 2017 - HAMBORNER REIT AG has enjoyed a successful first half of 2017 and today publishes its half-year financial report. Income from rents and leases amounted to EUR35.8 million in the first six months and was therefore up by 19.7% year-on-year. FFO, the company's key control parameter, rose strongly by 28.1% in the first half of the year to EUR22.1 million. Profit for the period was also significantly higher as against the first half of 2016 (EUR8.8 million) at EUR10.9 million. The vacancy rate, including agreed rent guarantees, was still at a very low level of 1.5% (previous year: 1.4%) in the reporting period. Not including rent guarantees, the vacancy rate was 1.7% (previous year: 1.7%). NAV per share as at the end of the first half of the year was EUR9.42 and therefore also up on the previous year's level (EUR8.93 as at 30 June 2016). The REIT equity ratio was 61.1% and the loan-to-value (LTV) ratio was 37.7%. The current financial situation of the company therefore remains comfortable.

The company was able to significantly reduce its average financing costs once again thanks to current low interest rates. The average interest rate of loans, including those agreed but not yet utilised as at 30 June 2017, was 2.6% (previous year: 3.2%). "With interest rates as they currently are, we feel there is still the potential to further reduce average financing costs, even given future borrowing and refinancing," said the members of HAMBORNER's Management Board Dr Rüdiger Mrotzek and Hans Richard Schmitz.