publity increases assets under management in Q1 2016 to EUR 2.0 billion and is forecasting record results for 2016
DGAP-Media / 19.04.2016 / 11:02
- Commercial properties totalling EUR 360 million acquired in Q1 2016
- Assets under management set to grow to more than EUR 3 billion in 2016 as a whole
- Investment target of EUR 5 billion by the end of 2017 confirmed
- Net earnings expected to double to EUR 25 million in 2016
Leipzig, 19 April 2016 - publity AG (Entry Standard, ISIN DE0006972508), an investor and asset manager for German office properties, has recorded a strong start to the year and acquired commercial properties with a value of EUR 360 million in the first quarter of 2016 together with its joint venture partners. This means that publity has already realised more than a quarter of its planned purchase volume for 2016 as a whole. Assets under management (AuM) have increased from EUR 1.6 billion at the end of 2015 to a total of around EUR 2.0 billion. publity has forecast growth in its assets under management to more than EUR 3 billion by the end of 2016. At the same time, publity has confirmed its objective of increasing its assets under management to more than EUR 5 billion by the end of 2017. This is based on its investment alliances with national and international investors as well as publity's unique position on the market as a specialist and investor for high-margin commercial real estate in Germany.
publity's business model is based on joint ventures with institutional investors. In so doing, publity participates in purchasing the properties as a co-investor and takes over end-to-end asset management. The resulting fees form publity's core income. publity has already received contractual commitments from its joint venture partners for all of the equity required to expand its assets under management. In addition, the acquisitions will also be financed using borrowing at attractive conditions. As a co-investor publity participates in financing with up to 3 percent of equity, and this is already fully available for growth in the next 12 months.
Based on the positive business growth in the first three months of 2016 and the extensive deal pipeline, publity is expecting new record results in 2016 as a whole. EBIT is expected to total EUR 37.5 million and thus significantly exceed the previous year's profits of EUR 20.3 million. Net earnings are set to double year-on-year to around EUR 25 million. Revenues in 2016 are forecast to total around EUR 44 million after EUR 22.9 million in 2015. publity also aims to allow its shareholders to participate in the company's success in future, and is pursuing a sustainable dividend policy which includes distributing at least 50 percent of the company's profits.
Press contact:Financial press and investor relations:
edicto GmbH
Axel Mühlhaus/Peggy Kropmanns
Telephone: +49 69 905505-52
E-Mail: publity@edicto.de
About publity
publity AG is an asset manager specialising in office properties in Germany. The company covers a broad value chain, from purchases through to the development and sale of the properties, and also has a track record of several hundred successful transactions. publity is characterised by its sustainable network in the real estate sector as well as banks' Work Out departments, and has excellent access to funding. The company executes its transactions quickly using a highly efficient process with tried and trusted parters. In some cases, publity acts as a co-investor in joint venture transactions to a limited extent. publity AG's shares (ISIN DE0006972508) are traded on Frankfurt Stock Exchange's Entry Standard.
End of Media Release
Issuer: publity AG
Key word(s): Real estate
19.04.2016 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
455405 19.04.2016