WCM reports on the first quarter of 2015

Ad-hoc announcement according to § 15 WpHG

• Accelerated portfolio build-up
• Positive earnings – large portion of transaction costs already recognised in first quarter
• Continued strong growth planned for the full year

Frankfurt, 21 May 2015 – WCM Beteiligungs- und Grundbesitz-AG (WCM AG, ISIN: DE000A1X3X33) today announced figures for the first quarter of 2015, which reflect the build-up of the Company’s portfolio. WCM AG recognised investment property totalling EUR 86.0 million as at 31 March 2015, up from EUR 17.3 million at the close of 2014. This was due mainly to the fact that the acquisition of three commercial properties that were announced back in late 2014 was finalised in the second half of March. Naturally, the transactions of WCM AG initiated in April have not yet been included in the figures. Total assets increased from EUR 43.9 million as at 31 December 2014 to EUR 94.1 million as at 31 March 2015. The Group’s equity rose by approximately EUR 5.1 million to EUR 36.9 million.

Revenue in the first quarter of 2015 amounted to EUR 0.7 million and includes initial rental income. In this context, it has to be noted that revenue from rental income for the full quarter was limited to just one commercial property. The three properties for which WCM AG did not assume ownership until the second half of March contributed to revenue for only two weeks. No revenue was generated in the first quarter of 2014. WCM AG reports a consolidated profit of EUR 0.4 million for the first quarter of 2015; this compares to a loss of EUR 0.3 million in the first quarter of 2014. This figure already includes transactions costs of EUR 2.9 million that were recognised as one-off charges.

WCM AG plans to continue on its dynamic growth trajectory during the course of the year

About WCM AG

Reflecting its strategic realignment implemented in 2014, WCM Beteiligungs- und Grundbesitz-AG (WCM AG) intends to position itself as one of the leading commercial property companies in Germany. As a holder of office and retail properties with a focus on major office locations, the company is on a dynamic growth path. In the mid-term WCM AG plans to build a portfolio with a value exceeding EUR 1 billion. The company utilises a comprehensive network for the acquisition of properties and value-enhancing portfolio management in order to generate long-term attractive rental income and a steady cash flow. WCM AG also intends to leverage further opportunities offered by the property market. The company's management, headed by CEO Stavros Efremidis, has extensive experience in the German property market in connection with the acquisition and management of properties and many years of capital market experience. The company has substantial corporate and trade tax loss carry-forwards. WCM AG (ISIN DE000A1X3X33) is listed on the Frankfurt Stock Exchange's General Standard.

Press contact:
edicto GmbH
Axel Mühlhaus/ Dr. Sönke Knop
Eschersheimer Landstraße 42, 60322 Frankfurt am Main
069-905505-51
wcm@edicto.de

This release was published on openPR.