EANS-News: YOUNIQ AG publishes business figures for fiscal year 2012
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Subtitle: EBIT of EUR 5.9 million achieved in the YOUNIQ - Student Housing
segment / Greifswald, Karlsruhe and Munich I sites sold to MPC / 60% of the
portfolio from the Renting and Trading Real Estate segment sold or future sale
agreements signed
Financial Figures/Balance Sheet
Frankfurt am Main (euro adhoc) - 27 March 2013 - The YOUNIQ Group was able to
record satisfactory development in the "YOUNIQ - Student Housing" segment in the
fiscal year 2012. In its core business, the Group generated earnings before
interest and taxes (EBIT) of EUR 5.9 million (2011: EUR 10.0 million) as well as
a total comprehensive income of EUR 4.0 million (2011: EUR 1.8 million). In
addition to the Munich Schleißheimer Straße project, the Frankfurt-Riedberg I
site was also completed in the financial year 2012. With the sale of the real
estate in Karlsruhe, Greifswald and Munich Schleißheimer Straße during the
course of the year, three of the four total transactions were concluded with a
fund initiated by MPC Capital AG. Construction work commenced on four further
projects (Mainz, Potsdam, Bayreuth, Frankfurt II) which are due to be completed
by winter semester 2013/14.
At Group level, YOUNIQ AG generated profit from changes in the valuation of
investment property of EUR 6.7 million in the financial year 2012 (2011: EUR 6.9
million). On the back of the full occupation of the properties in Karlsruhe,
Greifswald and Munich Schleißheimer Straße, as well as the proportionate rental
of the first property at Frankfurt Riedberg, rental income came in at EUR 5.3
million (2011: EUR 3.2 million). Consolidated net profit from continuing
operations (YOUNIQ - Student Housing, Services) was recorded at EUR 0.1 million
(2011: EUR 1.4 million). Including the discontinued operations (Renting and
Trading Real Estate, Project Development), the Group recorded a consolidated net
loss for the period of EUR 7.1 million (2011: EUR -21.0 million).
The net asset position of the YOUNIQ Group was substantially influenced by the
three transactions with MPC Capital during the reporting period. The sale and
balance sheet disposal of the properties in Karlsruhe, Greifswald and Munich led
to changes in the Company's scope of consolidation. The corresponding
deconsolidation could not be completely offset by investments in on-going
projects. As of 31 December 2012, the Group held investment property worth EUR
89.2 million (31 December 2011: EUR 111.1 million). Total assets fell at the end
of the reporting period to EUR 157.6 million (31 December 2011: EUR 183.7
million), which is largely attributable to the effects stated in the "YOUNIQ
Student Housing" segment as well as the sales in the discontinued segments
"Renting and Trading Real Estate" and "Project Development".
On the financing side, as of 31 December 2012, the Group's equity fell to EUR
81.2 million (31 December 2011: EUR 87.6 million). As a result of the lower
total assets figure, the equity ratio increased from 47.7% to 51.5%. In
addition, the YOUNIQ Group was able to substantially reduce its current and
non-current debt by EUR 19.7 million to EUR 76.4 million (31 December 2011: EUR
96.1 million). This is primarily attributable to the project-related loan in
connection with the transfer of the Greifswald, Karlsruhe and Munich
Schleißheimer Straße sites to MPC.
Rainer Nonnengässer, CEO of YOUNIQ AG, comments: "We are aiming to continue to
focus on our core business and are on the right track in developing this
strategic orientation. We were able to sell around 60% of our existing portfolio
in the 'Renting and Trading Real Estate' segment in 2012 - this represents 512
residential and commercial units. We have already discontinued operations in the
'Project Development' segment. We are now completely focusing on our on-going
project developments in the 'YOUNIQ - Student Housing' segment. By the winter
semester 2013/14 we are aiming to launch four new locations - Mainz, Bayreuth,
Potsdam and our second site in Frankfurt Riedberg. Given the continuing
favourable conditions, we anticipated positive business development in the
'YOUNIQ - Student Housing' segment for 2012 and 2013 and expect a positive EBIT
in this segment for both years."
The Annual Report 2012 will be made available for download in the Investor
Relations section on the website www.youniq-group.de during the course of the
day.
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
3,270 high-quality apartments currently in the management or construction
phases. These properties are located at twelve sites in Germany, including
Munich, Erlangen, Karlsruhe, Frankfurt / Main, Mainz, Potsdam, Leipzig and
Bayreuth. 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 702 properties. YOUNIQ AG
(ISIN: DE000A0B7EZ7, German Securities Identification Code/WKN: A0B7EZ) is
listed on the Frankfurt Stock Exchange (Prime Standard).
Further information is available from: www.youniq-group.de
Further inquiry note:
Contact:
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
Eschersheimer Landstraße 6
D-60322 Frankfurt am Main
phone: +49(0)69 2474720
FAX: +49(0)69 247472100
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