- Pressemitteilung BoxID 344187
YOUNIQ AG publishes 2012 interim financial report
- Operating profit (EBIT) of EUR 2.7 million in first half-year
- Positive consolidated net profit achieved
- Acquisition of new locations in Reutlingen and Düsseldorf
- 195 units in "Renting and Trading Real Estate" segment sold with book profit
Following the conclusion of the first half of 2012, YOUNIQ AG looks back at an overall positive business development. The sale of the projects in Karlsruhe and Greifswald to MPC Capital was completed on February 29, 2012, for example. The company also registered greater dynamics in its "Student Housing" core business area with the acquisition of two plots of land in Reutlingen and Düsseldorf in the second quarter. Around 500 new apartments are to be created there, subject to the successful conclusion of the building approvals process. The profit from the market valuation of investment properties improved to EUR 4.7 million at Group level in the first six months (previous year: EUR 2.6 million). Rental income also grew to EUR 4.2 million (previous year: EUR 3.8 million). Further progress was made with the disposal of the legacy portfolio. In its "Renting and Trading Real Estate" segment, YOUNIQ AG sold eight properties with a total of 195 units with a book profit. The YOUNIQ Group generated EUR 2.7 million of operating profit (EBIT) in the first half of 2012 (previous year: EUR 2.6 million). At EUR 44 k, consolidated net profit was significantly above of the previous year's loss of EUR 762 k.
On the assets side, property, plant and equipment, and investment properties fell to EUR 100.1 million as of June 30, 2012 due to the transfer of the Greifswald und Karlsruhe projects to MPC Capital on February 29, 2012, and the related de-consolidation. Total assets reduced to EUR 158.3 million in this connection (December 31, 2011: EUR 183.7 million). On the financing side, YOUNIQ AG significantly cut its non-current and current liabilities by EUR 25.0 million to EUR 70.7 million (December 31, 2011: EUR 96.1 million). This is mainly attributable to the repayment of project-related loans as part of the transfer of the Greifswald and Karlsruhe locations to MPC. Equity increased slightly to EUR 87.7 million as of June 30, 2012 (December 31, 2011: EUR 87.6 million). The equity ratio as of the balance sheet date was up from 47.4% to 55.4% due to the lower level of total assets.
Rainer Nonnengässer, CEO of YOUNIQ AG, commented as follows: "We are satisfied overall with the course of the first half of the year, particularly in the 'Student Housing' area. Further operating highlights are due in the second half of the year with the completion of our first locations in Frankfurt am Main and Munich. The Munich Schleissheimer Strasse project will transfer to the MPC fund as the third and penultimate property. We also aim to reach our 2012 forecast to acquire five new projects in our 'Student Housing' segment. Disposals from our real estate portfolio are also proceeding to plan overall so that we can assume that we will be able to sell the portfolio by the end of the year."
The Management Board regards YOUNIQ AG as being outstandingly positioned on the market to generate further growth. With a view to the continued good overall conditions, the Management Board anticipates business growth and positive results for 2012 and 2013.
The interim financial report as of June 30, 2012 can be downloaded from the company's website at www.youniq-group.de within the Investor Relations area.
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