DGAP-News: FCR Immobilien AG
/ Key word(s): Preliminary Results
FCR Immobilien AG preliminary EBT 2020 of EUR 11.5 million exceeds forecast
- Sales revenues from property management increased to EUR 25.2 million (PY: EUR 21.6 million)
- Good business development through focusing on portfolio management
- Innovative strength supports successful growth course
- 4.25 % bond for conclusion with two-stage subscription over up to EUR 20 million
- Continuation of the positive business development planned for 2021
Munich, 11 March 2021: FCR Immobilien AG ("FCR", ISIN DE000A1YC913) has closed fiscal 2020, as expected, with very good results according to preliminary IFRS figures. Earnings before taxes amounted to EUR 11.5 million and hence exceed the forecast of EUR 11.1 million.
The market value of the real estate portfolio rose to around EUR 315 million during the reporting period as a result of acquisitions, after EUR 299 million a year before. Around EUR 268 million were accounted for by the portfolio of existing properties and EUR 46 million by the trading and development portfolio. The expert changes in value of the properties have altogether resulted in a slightly positive contribution to earnings of EUR 0.8 million in 2020. Sales revenues from property management in total increased in 2020 to EUR 25.2 million, after EUR 21.6 million during the previous year. Of this amount, EUR 22.7 million was attributable to sales revenues from portfolio management (PY: EUR 19.1 million). The funds from operations (FFO) climbed to EUR 5.0 EUR. During the previous year, when the company did not yet focus on portfolio management, the FFO amounted to EUR -3.1 million. During the fiscal year 14 properties were purchased and 7 were sold.
In addition, the high IT competency of FCR Immobilien AG has had a clearly positive impact and is reflected by the asset management of the portfolio properties. The self-developed software allows for efficient workflows through the use of Artificial Intelligence. It was, for instance, possible to reduce the vacancy rate in the portfolio of existing properties by 9.7 percent (PY: 17.9 percent) in this way.
Through a private placement in the 4.25 % corporate bond 2020/25 (ISIN DE000A254TQ9), an institutional investor has subscribed to EUR 10 million. Moreover, an option concerning an additional placement of a further EUR 10 million was agreed, so that FCR can draw, if necessary, on this amount until the end of 2021. FCR has currently liquid funds in the amount EUR 28 million, which are completely available for the further enlargement of the portfolio of existing properties.
For fiscal 2021, FCR plans to continue its profitable growth course. Its objective is to purchase properties with a value of around EUR 160 million for the portfolio of existing properties.
FCR Immobilien AG
CEO: Falk Raudies
|Company:||FCR Immobilien AG|
|Phone:||+49 89 413 2496 00|
|Fax:||+49 89 413 2496 99|
|ISIN:||DE000A1YC913, DE000A2BPUC4, DE000A2G9G64, DE000A2TSB16, DE000A254TQ9|
|WKN:||A1YC91, A2BPUC, A2G9G6, A2TSB1, A254TQ|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Munich (m:access), Stuttgart, Tradegate Exchange|
|EQS News ID:||1174944|
|End of News||DGAP News Service|