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9-month report
Subtitle: Total revenue of EUR 25.9 million as of September 30, 2011 / EBIT of
EUR 3.49 million after first nine months of 2011 / Positive trend expected for
Student Housing segment in 2011 and 2012
Frankfurt am Main (euro adhoc) - November 18, 2011 - YOUNIQ AG, the leading
provider of high-quality student apartments in Germany, has today published its
results for the first nine months of 2011. The company generated EUR 25.90
million of total revenue in the reporting period (previous year: EUR 27.43
million). Of this amount EUR 17.28 million were attributable to its core
"Student Housing" segment (previous year: EUR 18.76 million). This decline is
mainly due to lower revenues from construction contracts, which will be replaced
by the company's own project developments in the future.
YOUNIQ generated EUR 3.49 million of EBIT during the first nine months of 2011
(previous year: EUR 4.66 million). The financial result of EUR 5.28 million
included interest expenses of EUR 1.67 million for the shareholder loan that
burdened net income in the first nine months of 2011 and that has been waived in
the meantime. As a consequence, net income amounted to EUR -1.63 million as of
September 30, 2011, compared with EUR 1.60 million in the prior-year period. It
should also be noted in this context that various milestones that have been
reached in 2011, such as the capital increase and the co-operation venture with
the issuing house MPC Capital, will impact the Group's earnings position with a
time delay.
There was a significant year-on-year improvement in the company's financing
structure as of September 30, 2011. Due to the successful conclusion of the
capital increase in June 2011, and the major shareholder's subsequent waiver of
EUR 37.6 million of loan receivables, the company's balance sheet equity
underwent a significant increase from EUR 47.9 million at the end of 2010 to EUR
107.1 million. At the same time, net asset value (NAV) per share increased from
EUR 6.77 as of December 31, 2010 to EUR 10.28. The Loan-to-Value ratio fell to
32.4% (previous year: 66.4%).
Rainer Nonnengässer, CEO of YOUNIQ AG, expressed his optimism about corporate
growth as follows: "We will drive ahead successively with our expansion and our
market leadership in the Student Housing segment with further acquisitions at
attractive university locations both this and next year. We expect the positive
trend in our core business to continue due to the supply shortage and the
continuously high demand for attractive accommodation."
The Group is well positioned for further growth given its existing project
pipeline, solid financing structure and the tried and tested YOUNIQ concept for
student apartments. As a result of the planned acquisitions of new projects,
positive income effects are expected. These will have a corresponding impact on
YOUNIQ AG's profitability. For this reason, the Management Board continues to
anticipate a positive trend for the 2011 and 2012 financial years.
The report for the first nine months of fiscal year 2011 can be downloaded from
the company's website at www.youniq-group.de within the Investor Relations area.
Company profile
YOUNIQ AG
YOUNIQ AG has focused on student accommodation since 2009. The company covers a
significant portion of the value chain - ranging from the purchase of properties
and land, through project development, including planning, procurement of
planning permission, construction, and all the way through to commercial and
technical management. YOUNIQ has developed into a leading provider for this
segment with currently 2,453 high-quality apartments that are in either the
management or construction phases. The properties are located at nine sites in
Germany, including Munich, Erlangen, Karlsruhe, Frankfurt am Main, Mainz and
Leipzig. YOUNIQ draws together many years of experience acquired in the areas of
project development and the portfolio management of largely residential
properties. Due to its past business operations, YOUNIQ AG holds an existing
portfolio comprising a further 951 units, thereby allowing stable rental income
to be generated. YOUNIQ AG (ISIN: DE000A0B7EZ7, WKN: A0B7EZ) is listed on the
Frankfurt Stock Exchange (Prime Standard).
Further information is available from: www.youniq-group.de
Further inquiry note:
Kontakt:
Investor Relations
cometis AG
Ulrich Wiehle
Tel.: +49 (0)611 - 205855-11
Fax: +49 (0)611 - 205855-66
E-Mail: wiehle@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: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Stuttgart, Düsseldorf
language: English