EANS-News: YOUNIQ AG publishes its final figures for the financial year 2011
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Annual Reports
Subtitle: Successful development of Student Housing core business / One-off
write-down in the Renting and Trading Real Estate segment impacts total
revenues and consolidated annual result / Adjusted consolidated annual result of
EUR 1.0 million achieved
Frankfurt am Main (euro adhoc) - March 30, 2012 - YOUNIQ AG is releasing its
Annual Report 2011 and looks back on overall positive developments in the past
financial year. In its "Student Housing" core business, the company recorded
total revenues of EUR 28.3 million in the financial year 2011 (previous year:
EUR 30.7 million). The operating result (EBIT) came in at EUR 9.9 million in
this segment (previous year: EUR 11.3 million), underlining the high
profitability of the "Student Living" business.
On group level, YOUNIQ AG generated total revenues of around EUR 14.5 million
(previous year: EUR 44.2 million). Results were impacted by one-off, non-cash
write-downs on the so-called "Renting and Trading" portfolio, which largely
comprises residential real estate with a regional focus on the Leipzig area and
which resulted from previous business activities. This write-down was made
following the change of strategy towards disposal of this portfolio real estate
as opposed to its previous individual property sales approach.
The other group results were also impacted by this effect. After recording a
group EBIT of EUR 8.7 million in the previous year, the figure amounted to EUR
-24.3 million in the year under review. The consolidated annual result for the
financial year 2011 amounted to EUR -21.0 million (previous year: EUR 5.0
million). This represents earnings per share (EPS) of EUR -2.31 (previous year:
EUR 0.70). The consolidated annual result adjusted for the write-down was in the
black, totalling EUR 1.0 million.
In terms of assets, the equity of YOUNIQ AG increased substantially as of
December 31, 2011 from EUR 47.9 million to EUR 87.6 million on the back of the
capital increase in June 2011, as well as the waiver of a shareholder loan
totalling EUR 37.6 million. The net asset value per share (NAV) increased to EUR
8.41 by the year-end compared to EUR 6.77 in the previous year despite the
write-down recorded on the balance sheet date. Due to the improved equity ratio
of 47.7% (previous year reporting date: 25.5%), YOUNIQ AG has sufficient
financial scope to successfully continue its expansion strategy in the "Student
Housing" core business.
Rainer Nonnengässer, CEO of YOUNIQ AG, comments: "As market leader for student
housing in Germany, we remain on track. The number of students in Germany is
continuing to rise, as evidenced by the Standing Conference of the Ministers of
Education and Cultural Affairs (Kultusministerkonferenz) adjusting its forecast
for the number of new students upwards. At the same time, living space at
university sites remains hard to come by and the market is therefore attractive.
We want to make the most of this opportunity and acquire five further projects
in 2012." CFO Marcus Schmitz continues: "We anticipate additional investment
volume from the portfolio sales in the `Renting and Trading´ real estate segment
which we are aiming to use for the expansion in the `Student Housing´ core
business. At the same time, we are expecting operating cost cuts of up to EUR
1.0 million per year as well as lower maintenance costs for the older portfolio
of EUR 1.5 million per year on the back of our strategy change for the `Renting
and Trading´ portfolio."
Given the continued favourable conditions, the Management Board is expecting
positive business development for 2012 and progress as planned in acquisition
activities. Positive income effects can also be expected from the intended
acquisitions as well as project progress. The Management Board is therefore
aiming to achieve a positive consolidated annual result for the financial year
2012.
The Annual Report 2011 is available for download on the website
www.youniq-group.de in the Investor Relations section.
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
3,264 high-quality apartments currently in the management or construction
phases. These properties are located at twelve sites in Germany, including
Munich, Erlangen, Karlsruhe, Frankfurt am Main, Mainz, Potsdam and Leipzig.
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 1,018 properties that generate a
stable rental income stream. YOUNIQ AG (ISIN: DE000A0B7EZ7, German Securities
Identification Code/WKN: A0B7EZ) is listed on the Frankfurt Stock Exchange
(Prime Standard).
Further information: www.youniq-group.de
Further inquiry note:
Kontakt:
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
Neue Mainzer Strasse 28
D-60311 Frankfurt am Main
phone: +49(0)69 35101480
FAX: +49(0)69 351014890
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