News (18.04.2019)

Business news for the stock market

Frankfurt (pta028/18.04.2019/16:42) - ...
* LTV of just 36.8 percent - scope for growth
* Supervisory Board approves review of capital measures

Frankfurt/M., 18 April 2019. ERWE Immobilien AG (ISIN DE000A1X3WX6, ERWE), Frankfurt am Main, can confirm its good earnings figures for the 2018 financial year. Following adoption of the results by the Supervisory Board, the company concluded 2018 with annual net income of Euro 4.913 million. At the meeting held to approve the financial statements, the Supervisory Board also approved all other figures in the Annual Report. The company had total assets of Euro 127.1 million at the end of the financial year. Due to a cash capital increase at the end of 2018, which provided ERWE with cash funds of more than Euro 18 million, the loan-to-value (LTV) was very low at 36.8 percent. ERWE therefore has scope for further growth. Here, the Supervisory Board also approved the further capital measures considered by the Management Board and requested the Management Board to review their implementation. As well as providing financing to safeguard options for ERWE's acquisition efforts, these measures also involve further optimising the company's capital situation.
ERWE Immobilien AG was created from the former Deutsche Technologie Beteiligungen AG, Munich, upon the contribution of ERWE Retail Immobilien GmbH, a move which took effect at the beginning of May 2018. Since then, ERWE has been operating under its new name and with its new business model, which involves developing promising commercial properties in prime locations in small and medium-sized towns and cities of more than 10,000 inhabitants. Annual net income is largely due to the result of the measurement of financial investments, which amounted to Euro 9.47 million, thus documenting the success of ERWE's investment activities to date. The company now holds interests in four commercial properties in Speyer, Krefeld, Lübeck and at Frankfurt Airport and also owns land for the development of a business park in the Greater Frankfurt area.

ERWE Immobilien AG focuses on developing promising downtown commercial real estate in prime locations in small and medium-sized towns and cities with more than 10,000 inhabitants. Projects include office and hotel use, as well as downtown retail space. The company is listed in the Regulated Market (General Standard) in Frankfurt and in the open market on the stock exchanges in Frankfurt am Main (XETRA), Berlin, Düsseldorf und Stuttgart (ISIN: DE000A1X3WX6). ERWE Immo-bilien AG works on its own account and on behalf of third parties to develop projects whose value can be released or significantly enhanced by working with new concepts. As well as recovering the value growth achieved in individual projects, ERWE Immobilien AG also aims to sustainably expand its portfolio and generate substantial revenue growth.

Contacts for enquiries:

german communications AG
Jörg Bretschneider
Milchstr. 6 B
20148 Hamburg
T. +49-40-4688330, F. +49-40-46883340
presse@german-communications.com

Investor Relations:
Hillermann Consulting e. K.
Christian Hillermann
Streit´s Hof, Poststraße 14-16
20354 Hamburg
T.+49-40-32027910, F. +49-40-320279114
office@hillermann-consulting.de

(end)

emitter: ERWE Immobilien AG
address: Herriotstraße 1, 60528 Frankfurt
country: Germany
contact person: Christian Hillermann
phone: +49 40 320 279-10
e-mail: office@Hillermann-Consulting.de
website: www.erwe-ag.com

ISIN(s): DE000A1X3WX6 (share)
stock exchanges: regulated market in Frankfurt; free market in Stuttgart, free market in Dusseldorf; open market in Berlin

[ source: http://www.pressetext.com/news/20190418028 ]


Seite drucken Seite empfehlen Die Börsenkurse werden geliefert von GOYAX.de.