- WKN: A1XDYU
- ISIN: AT00BUWOG001
- Land: Österreich
Nachricht vom 25.09.2018 | 08:20
BUWOG AG: Results for the first three months of the abbreviated 2018 financial year
DGAP-News: BUWOG AG / Key word(s): Quarter Results
Vienna, 25 September 2018
- Recurring FFO totals EUR 34.1 million
- Increase in EPRA NAV per share to EUR 26.75
- 49% increase in apartments under construction (2,509 units)
- Expansion of new development pipeline to 12,102 units in Berlin, Vienna and Hamburg
The residential property specialist BUWOG AG, in which the German Vonovia SE holds an investment of over 90%, is now looking back on the first quarter of the abbreviated 2018 financial year. This reflects a decision by the Extraordinary General Meeting of BUWOG AG on 4 May 2018 to convert the financial year to the calendar year.
Recurring FFO, the most important indicator for BUWOG, fell by roughly 19% year-on-year to EUR 34.1 million. The decline resulted, above all, from a lower earnings contribution by Property Development which was caused by the purchase of additional sites and related up-front project costs as well as fewer completions than in the first quarter of 2017/18. This decrease is contrasted by a nearly unchanged, strong contribution from Asset Management and by a higher earnings contribution from Property Sales.
The EPRA Net Asset Value, which primarily illustrates the sustainable asset positions, has improved from EUR 26.32 per share to EUR 26.75 per share since 30 April 2018. In addition, the equity ratio rose by 0.4 percentage points to 53.3%. The average interest rate on financial liabilities was somewhat lower at 2.02% (30 April 2018: 2.06%), while the loan-to-value ratio remains low despite a slight increase of 0.6 percentage points to 33.4%.
Key data on the property portfolio
*The comparative data were adjusted (see note 2.4 in the consolidated interim financial statements for Q1 2018A).
On the BUWOG Group
The BUWOG Group is the leading German-Austrian full-service provider in the residential property sector and can now look back on 67 years of experience. The property portfolio includes roughly 49,300 standing investment units in Germany and Austria. BUWOG covers the entire value chain in the residential sector with its three business areas: Asset Management, Property Sales and Property Development. The shares of BUWOG AG have been listed on the exchanges in Frankfurt am Main, Vienna and Warsaw since the end of April 2014. The principal shareholder of BUWOG AG is Vonovia SE, the leading residential property company in Germany, which is listed in the DAX 30.
|Hietzinger Kai 131|
|Phone:||+43 1 87 8281130|
|Fax:||+43 1 87 8285299|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market)|
|End of News||DGAP News Service|
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