openPR Logo
Press release

KWG significantly beats expected Net Profit in final FY 2011 numbers

04-23-2012 05:41 PM CET | Industry, Real Estate & Construction

Press release from: KWG Kommunale Wohnen AG

Hamburg, 17 April 2012 - According to its audited FY 2011 financial statements that have been approved by its supervisory board, KWG Kommunale Wohnen AG, the long-term oriented owner and operator of German residential real estate, has achieved a result for Earnings After Tax that significantly beats its preliminary numbers. FY 2011's net result amounts to EUR 9.7 million. Thus, it beats both, the preliminary forecast of EUR 8.8 million and prior year's net result of EUR 8.6 million by far. The net result reflects the successful operating business of KWG AG as well as the consequent increase of the portfolio's fair value as demonstrated by the increase of the group's real estate value from EUR 188.6 million as per 31 December 2010 to EUR 226.4 million as per 31 December 2011.

Revenues that resemble gross rental income also reached a new record level. At 21.7 million revenues top prior year's top-line of EUR 19.8 million as well as the amount of EUR 21.5 million forecast in preliminary 2011 numbers. Net Cold Rents for FY 2011 amounted to a total of EUR 14.8 million and considerably surpassed previous year's Net Cold Rents of EUR 13.3 million. The main drivers for the positive developments were the reduction of vacancies resulting from value accretive investments into the properties and increasing prices in new lettings. The vacancy level in the core portfolio as per 31 December 2011 dropped by more than 50% from 6.4% to 2.7%. KWG AG's FY 2011 EBITDA rose from EUR 7.0 million to EUR 9.6 million, while its EBIT improved from EUR 16.6 million to EUR 18.4 million.

KWG AG's Net Asset Value per share as per 31 December 2011 amounted to EUR 8.33 compared to EUR 7.23 in the previous year. FY 2011's record numbers naturally do not yet account for any positive effects resulting from the takeover of Barmer Wohnungsbau AG in the first quarter of 2012. For the current fiscal year KWG AG's management board expects a further significant increase of Revenues, Profits and Net Asset Value - based both on a like-for-like comparison of the portfolio as per 31 December 2011 as well as on the increased portfolio after the takeover. KWG AG plans to further continue its path to growth in the current fiscal year on an organic level and through the potential acquisition of further attractive portfolios.

The Annual Financial Statements and the Annual Report 2011 will be published on 23 April 2012 and will then be available for downloading on the company's website at

About KWG AG:
KWG Kommunale Wohnen AG is a long-term oriented owner and operator of German residential real estate. The company acquires real estate portfolios in promising micro-locations of German metropolitan regions and regional centres at attractive conditions and achieves sustainable value enhancements through an active real estate asset management. By focusing on energetically optimised refurbishments, KWG AG manages to lower ancillary costs incurred by its tenants. KWG AG covers the complete value chain from acquisitions via construction management to an in-house property management. As a result of its measures low vacancy levels and an increasing rental income lead to value enhancements, above-average Returns On Equity and positive net results. As per today, KWG AG's portfolio amounts to 6,800 units. The company's shares are listed in the Entry Standard of the Frankfurt Stock Exchange.

KWG Kommunale Wohnen AG
Jan Hutterer
Alstertor 9
20095 Hamburg
F. +49 (0)40 2263088-100

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release KWG significantly beats expected Net Profit in final FY 2011 numbers here

News-ID: 218359 • Views: 1691

More Releases from KWG Kommunale Wohnen AG

KWG Kommunale Wohnen AG: KWG demonstrates strong performance and confirms its gu …
- Net Rental Income rises by 62% to EUR 23.2 mn. - FFO more than doubles vs. 9-m 2012a to EUR 4.6 mn. - Forecast for FY 2013e confirmed. Hamburg, 6 November 2013 - KWG Kommunale Wohnen AG, a long-term oriented property holding company of residential real estate in which Austrian conwert Immobilien Invest SE holds a 76% majority stake, looks back upon a successful 9-months period in the course of
Profitable sale from Portfolio confirms KWG's business model
- EUR 3.0 mn of realised profit under German accounting standards - Sale at IFRS book value documents realistic portfolio valuation - Positive value enhancement confirms KWG's business model Hamburg, 06 May 2013 - KWG Kommunale Wohnen AG, a long-term oriented property holding company of residential real estate in which Austrian conwert Immobilien Invest SE holds a 76% majority stake, sells 160 of its apartments in Wolfsburg. The price realised for the portfolio
KWG Kommunale Wohnen AG: KWG presents final figures for 2012 and confirms prelim …
- Net Rental Income rises to EUR 19.8 mn. (prev. EUR 14.8 mn.) - FFO almost doubles to EUR 2.3 mn. (prev. EUR 1.2 mn.) - NNNAV per share at EUR 11.19 (prev. EUR 8.41) - Group Result increases to EUR 46.5 mn. (prev. EUR 9.8 mn.) Hamburg - 22 April 2013 - KWG Kommunale Wohnen AG, the long-term oriented property holding company of German residential real estate, presents its final figures for the
KWG announces changes in Supervisory Board
Hamburg - 12 April 2013 - KWG Kommunale Wohnen AG, the long-term oriented property holding company of German residential real estate, announces changes in the company's Supervisory Board following the acquisition of a majority stake in the company by conwert Immobilien Invest SE. In this context Franz-Josef Gesinn, Thies-Martin Brandt, Bjoern Engholm, Hans-Michael Porwoll und Patrik Zeigherman resigned from the Supervisory Board in mutual agreement. The Supervisory Board's Chairman Prof.

All 5 Releases

More Releases for EUR

Global Organic Pet Food Market 2020 NewmanEUR(TM)s Own, LilyEUR(TM)s Kitchen, …
Organic Pet Food Market Global and outlook (2015 - 2025) The report published on Organic Pet Food is a invaluable foundation of insightful data helpful for the decision-makers to form the business strategies related R&D investment, sales and growth, key trends, technological advancement, emerging market and more. The global Organic Pet Food market report includes key facts and figures data which helps its users to understand current scenario of the
Ein gut ausgestattetes Angelkajak für unter 1000 EUR???
Ein gut ausgestattetes Angelkajak für unter 1000 EUR??? Seit der Fishing Masters Show 2017, ist nun einige Zeit vergangen. Zeit, die wir nutzen konnten, um die vielen Eindrücke erst mal sacken zu lassen und alles zu verarbeiten. Rückblickend müssen wir zugeben, dass wir uns niemals hätten vorstellen können, dass dieses Event für uns so überaus erfolgreich werden wird!   Nachdem Galaxy-Kajaks bereits vielen europäischen Ländern einen sehr guten Status genießt, sind nun
EUR 155,000 for Safe Zones Project
Eichsfeld Festival Attracts 25,000 Music Fans to Downtown Duderstadt "Tonight is going to rock!" It was with these words that initiators Professor Hans Georg Näder and Peter Maffay opened the 2012 Eichsfeld Festival this past Saturday. Around 25,000 music fans followed the invitation to experience top-class live performances in the Marktstraße of Duderstadt that day. Peter Maffay, Ich + Ich and four regional special guests did more than just wow the
Clariant successfully issues EUR 500 million Eurobond
Muttenz, January 17, 2012 – Today, Clariant successfully priced an Eurobond transaction of EUR 500 million with a tenor of 5 years, issued by Clariant Finance (Luxembourg) S.A. and guaranteed by Clariant Ltd. The fixed rate notes with a minimum denomination of EUR 100,000 and a final coupon of 5 ⅝ % p.a. are maturing on January 24, 2017. The orderbook was significantly oversubscribed on the back of strong investor demand.
VSCloud – cloud services from 0.78 EUR per day
On 15th of August, at a press conference, the unique cloud project named VSCloud was presented which provides cloud services of IaaS (Infrastructure as a Service) type. After three months, VSCloud can boast with hundreds of active users mainly from the Czech Republic and Slovakia. The leadership of VSCloud foresees that the number of first thousand active users will be surpassed by the end of this year. What are the advantages
euNetworks Reports 26% Revenue Rise to EUR 21.7M
London, United Kingdom - 12 November 2009 - euNetworks Group Limited, (SGX: H23.SI), a provider of mission-critical, high-performance networking solutions in Europe, reports a 26% rise in revenue for the nine months ended 30 September 2009 (“9M09”) to €21.7 million, from €17.2 million reported in the corresponding period a year ago (“9M08”). In line with the Group’s efforts at improving its operational efficiencies, gross margin also improved from 42%