Corporate | 12 August 2011 08:06
HCI Capital AG / Key word(s): Half Year Results
12.08.2011 / 08:06
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HCI Capital AG significantly increases new business in second quarter
* Around EUR 58 million invested in HCI funds in first half of 2011
* Positive consolidated net result of EUR 2.9 million as of 30 June 2011
* Equity ratio rises to 54.3%
Hamburg, 12 August 2011 - HCI Capital AG, one of the leading issuing houses
for closed-end funds, generated investment of about EUR 58 million in HCI
funds in the first half of 2011. The HCI Group more than doubled its equity
capital placed in Q2 2011 to around EUR 28.9 million compared with Q1 (EUR
12.5 million) especially thanks to its new funds HCI Berlin Airport Center
and HCI JPO Leo. Following completion of the capital increase in May 2011
and a positive consolidated net result after tax of EUR 2.9 million as of
30 June 2011, the HCI Group once again boosted its equity ratio
considerably to approximately 54.3%.
The market for closed-end funds continued to be weak in the first six
months of 2011. According to market data recently released by the industry
association VGF, the amount of equity capital invested by investors in the
first half of 2011 was down significantly by 9.4 % compared with last
year's figures.
HCI increases new business with real estate and container ship
Despite the difficult economic conditions, the HCI Group managed to expand
its new business considerably in the course of the first half of 2011
thanks to two new products. The real estate fund HCI Berlin Airport Center
has been on offer since mid-April. The fund is invested in a multi-tenant
office property in a prime location at the new Berlin airport. In early May
HCI also launched a container ship, HCI JPO Leo, on the market. 'With an
attractive purchase price, a manager with an excellent track record in
shipping and a sound financing and deployment concept, we are offering our
investors an investment in a shipping market segment that is benefiting in
particular from the growth in global trade,' explains Dr. Ralf Friedrichs,
Chairman of the Management Board of HCI Capital AG. With these two funds
the HCI Group brought to market around EUR 50 million of equity capital in
the second quarter, half of which had already been placed by the end of
June.
Investors invested about EUR 57.7 million of equity capital in HCI funds in
the first half of 2011. The need for equity capital investments to
safeguard existing funds decreased by more than half to EUR 16.3 million
compared with last year. In terms of new business, the HCI Group raised EUR
41.4 million of equity capital in the first half of 2011. The product area
Ship - with its classic closed-end funds and asset creation plans - remains
the strongest asset class in the HCI Group with a placement volume of EUR
26.6 million. The Company placed a total of EUR 14.8 million in the product
area Real Estate by the end of June.
Group reports positive consolidated net result and sound key financial
indicators
The positive performance in new business is not yet fully reflected in the
statement of operations. The gross profit of around EUR 1.7 million from
the placement of HCI Berlin Airport Center and HCI JPO Leo will only be
recognised in the consolidated financial statements after these funds have
been placed in full. Even without this earnings contribution, the HCI Group
improved its earnings before interest and taxes in the first half of 2011
by approximately EUR 0.6 million compared with last year and recorded a
positive consolidated net result after tax of about EUR 2.9 million.
A capital increase of about EUR 11 million also enabled the HCI Group to
complete the financial reorganisation of the Company in May 2011. 'We have
achieved all of the goals we set ourselves as part of the restructuring,'
says Dr. Friedrichs. 'We substantially strengthened the Company's financial
base.' The HCI Group's equity ratio stood at around 54.3 % as of 30 June
2011. 'As a result, we believe that we are well equipped to adapt ourselves
flexibly to the changed demands of our business and to exploit market
opportunities,' adds Dr. Friedrichs.
Contact:
HCI Capital AG
Dr. Olaf Streuer
Head of Corporate Communication / Business Development
Tel: +49 40 88 88 1 1100
olaf.streuer@hci-capital.de
End of Corporate News
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Language: English
Company: HCI Capital AG
Burchardstraße 8
20095 Hamburg
Germany
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-199
E-mail: ir@hci-capital.de
Internet: www.hci-capital.de
ISIN: DE000A0D9Y97, DE000A1EWVW2
WKN: A0D9Y9, A1E WVW
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg;
Freiverkehr in Berlin, Düsseldorf, Hannover, München,
Stuttgart
End of News DGAP News-Service
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