Peach Property Group AG

EQS-Adhoc: Peach Property Group more than quadruples net profit to CHF 16 million during the first six months of 2017


EQS Group-Ad-hoc: Peach Property Group AG  / Key word(s): Profit Warning
Peach Property Group more than quadruples net profit to CHF 16 million during
the first six months of 2017

10-Aug-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
--------------------------------------------------------------------------------
Press release

Peach Property Group more than quadruples net profit to CHF 16 million during
the first six months of 2017

- Market value of investment portfolio increases by 48 percent to CHF 332
million as at the end of the first half-year; market value of the total
portfolio increases to CHF 414 Mio.

- Rental income up 61 percent to CHF 6.8 million

- Positive earnings contribution from the sale of development projects

Zurich, 10 August 2017 - Peach Property Group, an investor specialising in the
management of residential property in Germany, today announced a leap in profits
exceeding expectations based on initial key data on the first half of 2017.
Earnings after taxes more than quadrupled year-on-year from CHF 3.8 million to
CHF 16.0 million. This increase was mainly due to the significant expansion of
the investment portfolio as well as value enhancing activities increasing
property values. Sales of the remaining development projects in the reporting
period and the appreciation of the euro also had a positive effect on earnings.

Based on preliminary figures, rental income for the first six months of 2017
improved by around 61 percent to CHF 6.8 million. Acquisitions and active asset
management lifted the market value of the investment portfolio by 48 percent to
CHF 332 million at the end of the first half-year compared with year-end 2016.
The market value of the total portfolio at the same time increased to CHF 414
Mio.

Final figures for the business development in the first half year of 2017 as
well as the 2017 half-year report will be published on 22 August 2017.

Contacts:

Media, investors and analysts

Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher, Chief
Financial Officer

+41 44 485 50 00 | investors@peachproperty.com

Media Germany

edicto GmbH, Axel Mühlhaus, Peggy Kropmanns

+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de

 

About Peach Property Group AG

Peach Property Group is a property investor and developer focused on investments
in Germany and Switzerland. The Group stands for long time experience,
competence and quality. Innovative solutions for modern housing needs, strong
partnerships and a wide value chain complete the profile of the Group. The
portfolio consists of an increasing number of high yield investment properties,
typically in B-cities in close reach to metropolitan areas. In addition, the
Group develops properties for its own portfolio or for the sale as condominium.
Developments for sale focus on A-locations and encompass attractive architecture
and high level furnishing for an international clientele. The business
activities of the Group cover the entire value chain, from property acquisition
and site selection to active asset management and finally to the sale or lease
of properties.

Peach Property Group AG is headquartered in Zurich and has its German Group
headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss
Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto
Garzetti (President), Peter Bodmer and Dr. Christian De Prati.

For more information, seewww.peachproperty.com

 

Additional features:


Document:http://n.eqs.com/c/fncls.ssp?u=OARUGYFFBW
Document title: Press Release
--------------------------------------------------------------------------------
End of ad hoc announcement------------------------------------------------------

Language: English

Company:  Peach Property Group AG

          Seestrasse 346

          8038 Zürich

          Switzerland

Phone:    +41 44 485 50 00

Fax:      +41 44 485 50 11

E-mail:investors@peachproperty.com

Internet: www.peachproperty.com

ISIN:     CH0118530366

Valor:    A1C8PJ

Listed:   Regulated Unofficial Market in Berlin, Stuttgart; Open Market (Basic
Board) in Frankfurt; SIX Swiss Exchange



 

End of Announcement EQS Group News Service

--------------------------------------------------------------------------------

600275  10-Aug-2017 CET/CEST
 



Weitere Meldungen: Peach Property Group AG

Das könnte Sie auch interessieren: