04103 Leipzig, de
+49 (69) 905505-52
publity grows net earnings in H1 2017 by 31 percent to EUR 5.5 million according to final figures
- Substantial revenue and earnings growth in particular due to successful asset management - Provisional figures are fully confirmed
- EBIT up by 27 percent to EUR 8.1 million
- Revenue up by 11 percent to EUR 12.9 million
- Equity totals EUR 53.1 million with equity ratio at 49 percent
publity AG (Scale, ISIN DE0006972508), an investor and asset manager for German office properties, has recorded a significant increase in revenues and earnings in the first half of 2017 according to final figures. At the same time, the provisional figures published in July 2017 have been fully confirmed. Net income (HGB accounting) lifted by around 31 percent in the first six months of 2017 to EUR 5.5 million, up from EUR 4.2 million in the same period of the previous year. This corresponds to EUR 0.91 per share after EUR 0.69 in the first half of 2016. EBIT increased by 27 percent to EUR 8.1 million, up from EUR 6.4 million in the previous year. Revenues grew by around 11 percent to EUR 12.9 million, up from EUR 11.6 million.
Equity at the end of H1 2017 lifted to EUR 53.1 million with an equity ratio of 49 percent. In addition, a dividend of EUR 16.94 million or EUR 2.80 per share was paid in the first six months of the year, up from EUR 11.0 million or EUR 2.00 per share in 2016. What is more, a further 20 million publity convertible bonds were placed during the period under review. Substantial amounts of these funds have already been used for co-investments as part of joint ventures with institutional investors.
The higher revenue and earnings in the first half of 2017 is mostly due to increased repeat income from asset management. During the period under review publity has been able to record key rental successes for the property it manages, it has also acquired several new properties and it has realized the increased value attained as part of its successful asset management in profitable property sales. In so doing, publity benefits from a finders fee when a property is purchased, asset management fees and it also participates substantially in the profits when a property is sold.
publity AG is confident regarding the remainder of 2017. The company has a well-filled pipeline for the continued strong expansion of its asset management portfolio. Its real estate assets under management have grown by EUR 0.8 billion to EUR 4.0 billion since the start of 2017. Assets under management are set to total around EUR 5.2 billion by the end of 2017 and around EUR 7 billion by the end of 2018. In addition the exploitation of the non-performing loans portfolio, which increased nominally to EUR 3.2 billion, is expected to have a positive impact in 2017.
The 2017 semi-annual report can be downloaded on 18. August 2017 from publity AG’s Web site at www.publity.de.
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