Ad-hoc | 14 February 2017 17:41
PATRIZIA Immobilien AG / Key word(s): Final Results/Preliminary Results
14-Feb-2017 / 17:41 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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- Strong business performance in fourth quarter 2016
- Total operating income expected at EUR 283 million vs forecast of at
least EUR 265 million
Augsburg, 14 February 2017. PATRIZIA Immobilien AG is pleased to announce
that the company continued its successful growth in 2016 as a leading
property investment manager in Europe. The company has exceeded its profit
forecast for the 2016 financial year significantly following a strong
performance in the fourth quarter. The three months until 31 December 2016
were characterised by increased transaction volumes and the realisation of
higher performance fees from the successful management of real estate
investments.
Following a total operating income of EUR 155 million for the 2015
financial year, the total operating income for 2016 is expected to rise to
EUR 283 million, exceeding the most recent forecast of at least EUR 265
million. The past two financial years were also characterised by highly
profitable transactions, with the sale of the Harald portfolio in 2016 and
Südewo in 2015. Excluding the contribution of these transactions to
PATRIZIA's results, a total recurring operating income of EUR 73 million is
expected for 2016 - an increase of almost 70 per cent from EUR 43 million
in 2015. A major contributor to the strong results was the increase in fee
income for the management of property assets for PATRIZIA investors. Total
management fees increased by 14 per cent to EUR 189 million in 2016 from
EUR 165 million in 2015 (excluding performance fees for Südewo exit).
Further details on PATRIZIA's earnings will be announced when the annual
report is published on 14 March 2017.
PATRIZIA Immobilien AG:
PATRIZIA Immobilien AG has been active as an investment manager in the real
estate market across 15 European countries for more than 30 years.
PATRIZIA's activities include the acquisition, management, repositioning
and sale of residential and commercial real estate through its own licensed
investment platforms. As one of the leading real estate investment
companies in Europe, PATRIZIA operates as a respected business partner of
large institutional investors and retail investors in all major European
countries. Currently, the Company manages real estate assets worth over EUR
18 billion, primarily as a portfolio manager and co-investor for insurance
companies, pension fund institutions, sovereign funds, savings and
cooperative banks. For further information, please visit:
www.patrizia.ag
PATRIZIA Immobilien AG
The Managing Board
PATRIZIA Immobilien AG
PATRIZIA Bürohaus
Fuggerstrasse 26
86150 Augsburg
Listing: Frankfurt Official Market (Prime Standard)
ISIN: DE000PAT1AG3
SIN: PAT1AG
Contact:
Investor Relations
Michael Tegeder
T +49 821 50910-401
investor.relations@patrizia.ag
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Language: English
Company: PATRIZIA Immobilien AG
Fuggerstraße 26
86150 Augsburg
Germany
Phone: +49 (0)821 - 509 10-000
Fax: +49 (0)821 - 509 10-999
E-mail: investor.relations@patrizia.ag
Internet: www.patrizia.ag
ISIN: DE000PAT1AG3
WKN: PAT1AG
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of Announcement DGAP News Service