DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Final Results/Forecast
05.06.2015 17:25
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Real estate group DEMIRE AG closes abbreviated fiscal year ended December
31, 2014 with a jump in earnings
- EBIT increases by EUR 64 million to EUR 58.4 million
- Net profit for the period: EUR 45.7 million (previous year:
EUR -6.0 million)
- Basic earnings per share: EUR 3.03 (previous year: EUR
-0.43)
- Total assets rise to EUR 373.0 million (previous year: EUR
48.4 million)
- Portfolio with more than 350,000 m2 (December 31, 2014) of
rentable space expected to significantly expand in 2015
- Today's total portfolio space with more than 610,000 m²
- Annual rental income to be main revenue source in 2015
Frankfurt/Main, 5 June 2015 - DEMIRE Deutsche Mittelstand Real Estate AG's
("DEMIRE", ISIN DE000A0XFSF0) consolidated financial statements for the
2014 abbreviated fiscal year (1 April to 31 December 2014) (according to
IFRS) published today were greatly impacted by strong growth resulting from
the creation of a large commercial real estate portfolio in Germany. In
2014, DEMIRE created a commercial real estate portfolio with total rentable
space of more than 350,000 m2, clearly exceeding its internal targets.
Annual net rental income excluding utilities of the properties held as at
December 31, 2014 amounted to approximately EUR 25.4 million. The Group's
key financial ratios for the abbreviated fiscal year from 1 April to 31
December 2014 show a corresponding development compared to the previous
balance sheet date of 31 March 2014.
The EBIT of EUR 58.4 million (previous year: EUR -5.6 million) was largely
the result of rental income and, especially, fair value adjustments of
investment properties. Accordingly, net profit for the period as at 31
December 2014 improved by EUR 51.7 million to EUR 45.7 million (previous
year: EUR -6.0 million). Basic and diluted earnings per share as at the
balance sheet date amounted to EUR 3.03 after EUR -0.43 as at 31 March 2014
and EUR 1.74 after EUR -0.43, respectively.
DEMIRE AG's total assets rose strongly to EUR 373.0 million as at 31
December 2014 (31 March 2014: EUR 48.4 million). The increase was mainly
the result of the Group's acquisition related growth. The equity ratio
stood at 14.6 percent after 15.9 percent as at 31 March 2014.
Diluted NAV according to EPRA per share amounted to EUR 4.21 as at 31
December 2014 after EUR 0.65 as at 31 March 2014.
In the current fiscal year, rental income from real estate holdings
acquired in 2014 will make a contribution to our earnings for a full
calendar year for the first time. Moreover, newly acquired properties such
as Gutenberg Galerie and Logistik Park Leipzig as well as additional
planned purchases will lead to a strong rise in rental income compared to
31 December 2014.
DEMIRE plans to further expand its real estate portfolio in the coming
months of the current 2015 fiscal year and to double the portfolio's size
by the end of the year. Following the acquisition concluded in 2015,
rentable space currently totals more than 610,000 m2 with contractual
annual net rental income excluding utilities of around EUR 32.8 million.
The Company's 2014 financial statements and the 2014 consolidated financial
statements, both approved by the Supervisory Board, are available for
download on the Company's website under www.demire.ag within the 2014
separate financial statements and the 2014 Annual Report.
The Executive Board
Disclaimer
The information in this release contains forward-looking statements that
are subject to various risks and uncertainties. Such forward-looking
statements are based on current forecasts, expectations and estimates of
DEMIRE's Executive Board at the time of their publication. Such statements
constitute neither promises nor guarantees and are subject to various known
and unknown risks and uncertainties, some of which are beyond DEMIRE's
influence. These risks and uncertainties may lead to actual results
differing materially from statements that are mentioned herein. DEMIRE
accepts no obligation to update or adjust the forward-looking statements
contained in this release to reflect events or circumstances after the date
of this release.
Contact
DEMIRE Deutsche Mittelstand Real Estate AG
Investor Relations
Lyoner Straße 32
60528 Frankfurt am Main
Phone: +49 (0) 69-719 189 79 0
Fax: +49 (0) 69-719 189 79 11
ir@demire.ag
www.demire.ag
Investor Relations
GFEI Aktiengesellschaft
Lars Kuhnke
Phone: +49 (0) 511 4740 2310
ir@demire.ag
05.06.2015 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: DEMIRE Deutsche Mittelstand Real Estate AG
Lyoner Straße 32
60528 Frankfurt am Main
Germany
Phone: +49 (0)69 / 719 189 79 0
Fax: +49 (0)69 / 719 189 79 11
E-mail: info@demire.ag
Internet: www.demire.ag
ISIN: DE000A0XFSF0
WKN: A0XFSF
Listed: Regulated Market in Frankfurt (General Standard); Regulated
Unofficial Market in Berlin, Stuttgart
End of Announcement DGAP News-Service
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