EANS-News: YOUNIQ AG publishes its final figures for the financial year 2011
Geschrieben am 30-03-2012 |
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Annual Reports
Subtitle: Successful development of “Student Housing” core business /
One-off write-down in the “Renting and Trading Real Estate” segment
impacts total revenues and consolidated annual result / Adjusted
consolidated annual result of EUR 1.0 million achieved
Frankfurt am Main (euro adhoc) - March 30, 2012 - YOUNIQ AG is
releasing its Annual Report 2011 and looks back on overall positive
developments in the past financial year. In its "Student Housing"
core business, the company recorded total revenues of EUR 28.3
million in the financial year 2011 (previous year: EUR 30.7 million).
The operating result (EBIT) came in at EUR 9.9 million in this
segment (previous year: EUR 11.3 million), underlining the high
profitability of the "Student Living" business.
On group level, YOUNIQ AG generated total revenues of around EUR 14.5
million (previous year: EUR 44.2 million). Results were impacted by
one-off, non-cash write-downs on the so-called "Renting and Trading"
portfolio, which largely comprises residential real estate with a
regional focus on the Leipzig area and which resulted from previous
business activities. This write-down was made following the change of
strategy towards disposal of this portfolio real estate as opposed to
its previous individual property sales approach.
The other group results were also impacted by this effect. After
recording a group EBIT of EUR 8.7 million in the previous year, the
figure amounted to EUR -24.3 million in the year under review. The
consolidated annual result for the financial year 2011 amounted to
EUR -21.0 million (previous year: EUR 5.0 million). This represents
earnings per share (EPS) of EUR -2.31 (previous year: EUR 0.70). The
consolidated annual result adjusted for the write-down was in the
black, totalling EUR 1.0 million.
In terms of assets, the equity of YOUNIQ AG increased substantially
as of December 31, 2011 from EUR 47.9 million to EUR 87.6 million on
the back of the capital increase in June 2011, as well as the waiver
of a shareholder loan totalling EUR 37.6 million. The net asset value
per share (NAV) increased to EUR 8.41 by the year-end compared to EUR
6.77 in the previous year despite the write-down recorded on the
balance sheet date. Due to the improved equity ratio of 47.7%
(previous year reporting date: 25.5%), YOUNIQ AG has sufficient
financial scope to successfully continue its expansion strategy in
the "Student Housing" core business.
Rainer Nonnengässer, CEO of YOUNIQ AG, comments: "As market leader
for student housing in Germany, we remain on track. The number of
students in Germany is continuing to rise, as evidenced by the
Standing Conference of the Ministers of Education and Cultural
Affairs (Kultusministerkonferenz) adjusting its forecast for the
number of new students upwards. At the same time, living space at
university sites remains hard to come by and the market is therefore
attractive. We want to make the most of this opportunity and acquire
five further projects in 2012." CFO Marcus Schmitz continues: "We
anticipate additional investment volume from the portfolio sales in
the `Renting and Trading´ real estate segment which we are aiming to
use for the expansion in the `Student Housing´ core business. At the
same time, we are expecting operating cost cuts of up to EUR 1.0
million per year as well as lower maintenance costs for the older
portfolio of EUR 1.5 million per year on the back of our strategy
change for the `Renting and Trading´ portfolio."
Given the continued favourable conditions, the Management Board is
expecting positive business development for 2012 and progress as
planned in acquisition activities. Positive income effects can also
be expected from the intended acquisitions as well as project
progress. The Management Board is therefore aiming to achieve a
positive consolidated annual result for the financial year 2012.
The Annual Report 2011 is available for download on the website
www.youniq-group.de in the Investor Relations section.
Company profile
YOUNIQ AG
YOUNIQ AG has focused on student accommodation since 2009. The
company covers a significant range of the value chain - ranging from
the purchase of real estate and land, through project development
including planning, planning permission procurement and construction,
all the way through to commercial and technical management. YOUNIQ
has developed into a leading provider for this segment with 3,264
high-quality apartments currently in the management or construction
phases. These properties are located at twelve sites in Germany,
including Munich, Erlangen, Karlsruhe, Frankfurt am Main, Mainz,
Potsdam and Leipzig. YOUNIQ bundles its many years of experience in
project development and portfolio management for largely residential
properties. Drawing on its past business operations, YOUNIQ AG holds
a portfolio of 1,018 properties that generate a stable rental income
stream. YOUNIQ AG (ISIN: DE000A0B7EZ7, German Securities
Identification Code/WKN: A0B7EZ) is listed on the Frankfurt Stock
Exchange (Prime Standard).
Further information: www.youniq-group.de
Further inquiry note:
Kontakt:
Investor Relations
cometis AG
Ulrich Wiehle / Dirk Ulmer
Tel.: +49 (0)611 - 205855-24
Fax: +49 (0)611 - 205855-66
E-Mail: ulmer@cometis.de
end of announcement euro adhoc
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company: YOUNIQ AG
Neue Mainzer Strasse 28
D-60311 Frankfurt am Main
phone: +49(0)69 35101480
FAX: +49(0)69 351014890
mail: ir@youniq.de
WWW: http://www.youniq-group.de
sector: Real Estate
ISIN: DE000A0B7EZ7
indexes:
stockmarkets: free trade: Berlin, Düsseldorf, Stuttgart, regulated dealing/prime
standard: Frankfurt
language: English
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weitere Artikel:
- ERS: Medion AG / Jahresbericht 2011 Medion AG / Jahresbericht 2011 / ERS-Dokument übermittelt von news
aktuell an das Exchange Reporting System (ERS) der FWB/Deutsche Börse
AG gemäß §§ 65 ff Börsenordnung.
Folgende PDF-Dokumente liegen vor:
- Jahresbericht deutsch
- Jahresbericht englisch
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Annual Reports/Earnings Forecast/Financial Figures/Balance Sheet
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