HAMBORNER REIT AG — Earnings Release 2009

Feb 22, 2010

News Details

Ad-hoc | 22 February 2010 09:07

HAMBORNER REIT AG: REIT registration carried out and provisional result 2009 is established

HAMBORNER REIT AG / Preliminary Results

22.02.2010 09:07

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.

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Ad hoc

HAMBORNER REIT AG:
REIT registration carried out and provisional result 2009 is established

• Rental and leasing income increased,

• Continuing comfortable financial funding,

• FFO increase by 12.7%

Duisburg, 22 February 2010 - HAMBORNER has done it. Entry in the Commercial
Register was effected on 18.02.2010 and the company is now officially
trading with the new corporate identity as 'HAMBORNER REIT AG'. As a
result, HAMBORNER is the third German REIT and the first company that has
managed the conversion from a long-established and stock exchange-listed
company. In addition, the share was today included in the REIT segment of
the Deutsche Börse.

The provisional balance sheet figures for the year 2009 prove that the new
REIT AG has a good foundation. The company has successfully held its ground
in a still difficult market environment and can look back on a by and large
satisfactory financial year. According to the provisional not yet audited
figures from the annual financial statements, rental and leasing income has
increased compared with the previous year by 13.7% to EUR 22.4 million due
to further acquisitions. The average vacancy rate shows a familiarly low
level at 3.5% or 1.1% after rent guarantees.

The earnings before interest, taxes, depreciation and amortisation (EBITDA)
amount to EUR 16.9 million (previous year: EUR 31.0 million) and also the
profit for the financial year is perceptibly in the positive area at EUR
5.1 million (previous year: EUR 17.3 million). As the previous year was
characterised by high book profits due to sales, the current earnings
figures are not comparable with the figures of the previous year. Adjusted
for sales proceeds and as a key figure for the operational business
development, the FFO (Funds from Operations) at 42.3 cents per share shows
a significant increase of 12.7% compared with the previous year (37.5 cents
per share). Moreover, in a consistently difficult market environment, the
property portfolio has proven to be comparatively stable. Due to the annual
external revaluation of the property portfolio, the net asset value (NAV)
of the company at EUR 10.37 per share has only moderately reduced by 1.9%
compared with the previous year (10.57 EUR per share).

With a cash balance of approximately EUR 38 million, a loan-to-value (LTV)
of 34.3% and an equity ratio of 67.1% , which is significantly above the
45% required in accordance with the German REIT Act , the directors Dr.
Rüdiger Mrotzek and Hans Richard Schmitz see themselves very well equipped
for the further growth of HAMBORNER REIT AG . The company will release the
final business figures as well as the dividend proposal at the general
shareholders' meeting on 25.03.2010.

Key figures as of 31.12.2009

                                                   2009           2008
                                            provisiona-
                                                    lly

Rental and leasing income EUR 22.4 EUR 19.7
million million
EBITDA* EUR 16.9 EUR 31.0
million million
Profit for the financial year before EUR 11.1 EUR 26.7
amortisation and depreciation (EBDA)* million million
Profit for the financial year* EUR 5.1 EUR 17.3
million million
Balance sheet capital ratio 52.0% 56.9%
REIT capital ratio 67.1% 77.1%
Loan-to-value (LTV) 34.3% 31.1%
Net asset value (NAV) 10.37 10.57
Funds from Operations (FFO) per share EUR 0.42 EUR 0.37

* with special effects from high book profits in 2008

Investor relations:

Sybille Albeser

Tel.: +49 (0)203 54405-32

Fax: +49 (0)203 54405-49

E-mail: s.albeser@hamborner.de

Web: www.hamborner.de

22.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: HAMBORNER REIT AG
Goethestraße 45
47166 Duisburg
Deutschland
Phone: 0203/54405-0
Fax: 0203/54405-49
E-mail: info@hamborner.de
Internet: www.hamborner.de
ISIN: DE0006013006
WKN: 601300
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
München, Düsseldorf, Stuttgart, Hamburg

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