- Pressemitteilung BoxID 549527
publity plans for jump in earnings in the first half of 2015 of approx. EUR 17 million EBIT for the full year
- Net income for the first half of 2015 at EUR 3 million (+136 percent)
- EBIT at EUR 4 million (+129 percent)
- Assets under Management up in the first half-year to EUR 880 million (+76 percent)
- Full-year forecast for Assets under Management increased to EUR 1.4 billion
- Dividend policy provides for at least 80-90 percent distribution of net profit
publity AG (Entry Standard, ISIN DE0006972508), an investor and asset manager in the field of German commercial real estate, has accelerated its growth in the first half of 2015. Accordingly, the company posted a positive earnings forecast for the full year and is also raising expectations for the Assets under Management at the end of the year.
Turnover was up in the first half of 2015 according to unaudited figures from HGB (German Commercial Code) accounting, rising to EUR 5.7 million compared to almost EUR 4.8 million in the same period last year. Earnings before interest and taxes, EBIT, increased to EUR 4 million from EUR 1.7 million previously. This represents an increase of approx. 129 percent. Net income climbed from EUR 1.3 million in the same period last year to EUR 3 million. This is an increase of 136 percent. Already included in the figures are the expenses of the stock market listing and the capital increase with gross proceeds of EUR 14 million in Q2 of 2015.
The first half of 2015 was thus marked by a significant expansion of Assets under Management, primarily through the acquisition of German office properties under Joint Venture Partnerships. Assets under Management were up EUR 500 million at year-end 2014 to approx. EUR 880 million as at 30 June 2015. A significant proportion of Asset Management Fees for publity associated with these assets will therefore only impact on sales and income in the second half of 2015. In addition, during the reporting period, publity - based on binding investment commitments from Joint Venture Partners - further expanded the overall Deal Pipeline. The volume of objects with exclusive access through Letters of Intent (LOI) was increased to almost EUR 0.9 billion.
From the successful first half of 2015, publity derives a positive forecast for the entire year. Expectations for the assets under management at the end of 2015 will be conservatively raised from the current EUR 1.2 billion to EUR 1.4 billion. A forecast of around EUR 17 million for the year's EBIT will first be published. With interest-bearing bank liabilities of only EUR 1.7 million and a standard tax ratio, net earnings in 2015 are therefore likely to multiply compared with EUR 2.8 million in the previous year. publity continues to pursue a dividend policy that aims to distribute at least 80-90 percent of company profits as dividends.
The complete report for the first half of 2015 is available now at www.publity.de in the Investor Relations section.
publity AG is an asset manager specialising in commercial real estate in Germany. The company covers a wide value chain from acquisitions to development through to the sale of real estate and has a track record of several hundred successful transactions. publity stands out by having a strong network in the real estate sector and in the Work Out departments of financial institutes; it also has very good access to investment resources and uses a highly efficient process to swiftly handle transactions from proven partners. Occasionally, publity acts as co-investor in a limited number of joint venture transactions. The shares of publity AG (ISIN DE0006972508) are traded in the Entry Standard of the Frankfurt Stock Exchange.
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