Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Xetra  >  TAG Immobilien AG    TEG   DE0008303504

Real-time Quote. Real-time Tradegate - 09/26 10:03:32 pm
12.934 EUR   -0.66%
08/11 TAG IMMOBILIEN : lifts FFO forecast for financial year 2016
06/20 TAG IMMOBILIEN : ex-dividend day for annual dividend
05/10 TAG IMMOBILIEN : starts financial year 2016 with strong operating re..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

TAG IMMO : TAG Immobilien AG successfully implements its growth strategy in H1 2011 and raises its full-year NAV guidance

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/18/2011 | 08:50am CEST
  • Takeover of Colonia Real Estate AG and other acquisitions double real estate volume to approx. EUR 1.9 billion
  • Rental income doubles to EUR 39 million
  • EBT increases from EUR 6.2 million to EUR 33.7 million
  • NAV forecast for 2011 raised from EUR 8.00 to EUR 8.75 per share
  • Synergy target in relation to the Colonia takeover raised to EUR 30-35 million per year
  • Solid balance sheet and financing structure with LTV ratio of 59 percent

Hamburg (18. August 2011) – TAG Immobilien AG (‘TAG’ in the following) successfully put its growth strategy into practice during the first half of the year. Following the takeover and first-time consolidation of Colonia Real Estate AG (‘Colonia’ in the following), the integration continues better than expected. The merging of the administration units have resulted in major savings. The internalisation of asset and property management greatly increases the potential synergies. Vacancy reduction continues to be the focus on the operations level. In Salzgitter, the largest single portfolio, vacancy was reduced from 24 percent to 23.5 percent in the second quarter. Further acquisitions in 2011, in places where TAG already has properties, also serve to increase the NAV (Net Asset Value) and have a positive impact on profits and cash flow. The key indicators of the first half of 2011 are as follows:

Total revenues increased from EUR 39.8 million in the first half of 2010 to EUR 72.7 million in the first six months of 2011. First-half rental revenues increased from EUR 23.9 million in 2010 to EUR 53.5 million in 2011, resulting in consolidated rental income (TAG and Colonia) of EUR 39.2 million after EUR 19.3 million in H1 2010. The good rental result, the synergies achieved from the Colonia takeover, effects from other acquisitions, and a revaluation gain in the commercial portfolio resulted in first-half earnings before taxes (EBT) of EUR 33.7 million, after EUR 6.2 million in 2010. The takeover of Colonia engendered higher interest payments, and the result was also impacted by interest paid on the convertible bonds issued by TAG last year, as well as higher taxes on property loans as the result of acquisitions. In all, net interest for H1 2011 was EUR -36.3 million, after EUR -15.6 million. The TAG recorded Group net income of EUR 27.7 million after EUR 6.3 million in H1 2010.

Total assets increased, especially due to the Colonia takeover, from EUR 1.2 billion at year-end 2010 to approx. EUR 1.9 billion at the end of June 2011. The Group’s solid balance sheet and financial structure is reflected in a LTV (Loan to Value) ratio of 59 percent, and the financial liabilities were also reduced by approx. EUR 100 million during the second quarter.

 “Based on its successful expansion strategy and the value-driven portfolio management, TAG is raising its NAV guidance, which reflects the intrinsic value of the business, from EUR 8.00 to EUR 8.75 per share for 2011. At the same time we are upholding the EBT forecast for the present at between EUR 50-60 million. Our strategic goal remains the long-term growth of shareholder value,” says Rolf Elgeti, CEO of TAG.

Please refer to the interim financial report as of June 30, 2011, published today, for details.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on TAG IMMOBILIEN AG
09/05 TAG IMMOBILIEN AG : Comeback der Plattenbauten - Mieter wissen Vorteile der Plat..
09/05 TAG IMMOBILIEN AG : Prefabs make a comeback - Tenants appreciate their advantage..
08/31 DGAP-NVR : TAG Immobilien AG: Veröffentlichung der Gesamtzahl der Stimmrechte na..
08/31 DGAP-NVR : TAG Immobilien AG: Release according to Article 26a of the WpHG with..
08/16 DGAP-AFR : TAG Immobilien AG: Preliminary announcement of the publication of fin..
08/16 DGAP-AFR : TAG Immobilien AG: Vorabbekanntmachung über die Veröffentlichung von ..
08/11 TAG IMMOBILIEN : lifts FFO forecast for financial year 2016
08/11 DGAP-NEWS : TAG Immobilien AG erhöht FFO Prognose für das Geschäftsjahr 2016
08/11 DGAP-NEWS : TAG Immobilien AG lifts FFO forecast for financial year 2016
08/03 DGAP-PVR : TAG Immobilien AG: Veröffentlichung gemäß § 26 Abs. 1 WpHG mit dem Zi..
More news
Sector news : Residential Real Estate Development
09/21DJNEW WORLD DEVELOPMENT : Fiscal Net Profit Down 55% at HK$8.67 Billion
09/21 China property developers may issue $150 billion in bonds in 2016
09/21DJCOUNTRY GARDEN : to Issue Bonds Worth US$650 Million Due 2023 at 4.75%
09/20DJBlackstone Bets Big on Logistics
09/20DJNWS : Fiscal Year Net Profit Up 9.7% on Year at HK$4.91 Billion
More sector news : Residential Real Estate Development
News from SeekingAlpha
2015 Why Income Investors Should Consider German Residential Real Estate
Advertisement
Financials (€)
Sales 2016 273 M
EBIT 2016 209 M
Net income 2016 141 M
Debt 2016 2 229 M
Yield 2016 4,42%
P/E ratio 2016 11,97
P/E ratio 2017 12,04
EV / Sales 2016 15,2x
EV / Sales 2017 14,8x
Capitalization 1 907 M
More Financials
Chart TAG IMMOBILIEN AG
Duration : Period :
TAG Immobilien AG Technical Analysis Chart | TEG | DE0008303504 | 4-Traders
Full-screen chart
Technical analysis trends TAG IMMOBILIEN AG
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 12,7 €
Spread / Average Target -2,4%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Rolf Elgeti Chairman-Supervisory Board
Claudia Hoyer Chief Operating Officer
Martin Thiel Chief Financial Officer
Lothar Maximilian Lanz Deputy Chairman-Supervisory Board
Philipp K. Wagner Member-Supervisory Board
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
TAG IMMOBILIEN AG13.22%2 141
CHINA VANKE CO., LTD.--.--%40 585
VONOVIA SE20.30%17 967
GREENLAND HOLDINGS COR..-42.87%17 024
GEMDALE CORPORATION-12.90%8 112
LEG IMMOBILIEN AG13.97%6 104
More Results