Corporate | 16 July 2009 08:00
Windsor AG / Miscellaneous/Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Corporate News July 16, 2009 WINDSOR AG: Right time right place WINDSOR AG achieved a very special bargain buy, this within an auction in Leipzig taking place on June 26, 2009: The company acquired a property called 'Kleine Fleischergasse 8', located in the middle of the historical city centre of Leipzig. Purchase price was favourable EUR 330 per sqm resp. EUR 1.75 million in total (plus additional acquisition costs). The property was build in the 17th century, was well known as 'Vetters Hof' or 'Kleines Joachimsthal' and is located just around to the old town hall, to the Thomas Church (Thomaskirche), to Mädlerpassage and to one of Europes' oldest coffee house, the famous 'Arabische Coffebaum'. Next 18 months, WINDSOR AG intends to develop the current building shell, this in line with an urban utilisation concept (residential, loft offices, gastronomy); in this regard it is planned to invest approx. EUR 3.5 million. CEO Heiko Zybell confirms the profitability of the investment:' Considering the favourable acquisition price, the fantastic location and the renting interest which is high already today, this is an ideal investment for us.'. Rental space is 5,300 sqm. Starting from 2011, net cold rent will amount to approx. EUR 0.6 million per annum. Due to this net initial yield is approx. 10 %. After this acquisition, the Leipzig property portfolio of WINDSOR AG comes up to approx. 20,000 sqm. Leipzig is regarded as an attractive location for property investments; this is confirmed by Heiko Zybell:'Chances in Leipzig are much bigger than risks. Population is raising continuously, so demand for good located apartments remains high. Particularly singles and young families are interested in this big city flair. But we are also optimistic with regard to the development of commercial rents. Altogether we intend to increase our Leipzig property portfolio step by step.'. Group key figures 2008 (IFRS, in EUR million) Consolidated balance sheet December 31, 2008 Long-term assets 22.1 - thereof investment properties 18.9 Short-term assets 25.4 - thereof cash to banks 11.0 Equity 29.4 Total debt 18.1 Total assets 47.5 Equity ratio 62% Return on equity 13.4% Consolidated income statement January 1 to December 31, 2008 Sales 13.8 EBIT 3.9 EBITDA 3,9 Profit before tax 3.4 Profit after tax 4.0 Information to the share Number of outstanding shares 9,235,066 Class of shares Bearer/ordinary shares Listing segment Open Market Freefloat 46% Stock exchange Xetra ISIN / ticker symbol DE0006190705 / WIR About Windsor AG Berlin WINDSOR AG is a property company, listed in the Open Market. Company is focussed on investments in profitable residential and commercial properties in Berlin, Potsdam and Leipzig. Strategic element is to optimize and develop the property portfolio by an counter-cyclical investment and sales strategy. Operating divisions are covering the full value chain: asset management, development and trading. Contact: WINDSOR AG, Lassenstraße 32, D-14193 Berlin, Tel: +49 (30) 886722-0, Fax: +49 (30) 886722-99 Investor Relations: Thorsten Schrader, schrader@windsor-ag.com 16.07.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------