Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

Real-time Quote. Real-time Tradegate - 06/28 07:32:01 am
13.647 EUR   -0.28%
05/17 TAG IMMOBILIEN : ex-dividend day for annual dividend
05/01TAG IMMOBILIEN : quaterly earnings release
03/06 TAG IMMOBILIEN : acquires around 1,440 residential units in city of ..
News SummaryMost relevantAll newsSector newsTweets 

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
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
Latest news on TAG IMMOBILIEN AG
05/22 DGAP-DD : TAG Immobilien AG english
05/18 DGAP-PVR : Correction of a release from 17.05.2017, 16:00 CET/CEST - TAG Immobil..
05/17 TAG IMMOBILIEN AG : ex-dividend day for annual dividend
05/05 DGAP-DD : TAG Immobilien AG english
05/04 DGAP-NEWS : TAG Immobilien AG startet mit einem auf EUR 28,5 Mio. gestiegenem FF..
05/04 DGAP-NEWS : TAG Immobilien AG starts the 2017 financial year with increased FFO ..
05/01TAG IMMOBILIEN AG : quaterly earnings release
04/26 DGAP-AFR : TAG Immobilien AG: Preliminary announcement of the publication of qua..
04/26 DGAP-AFR : TAG Immobilien AG: Vorabbekanntmachung über die Veröffentlichung von ..
03/23 DGAP-NEWS : TAG Immobilien AG: The right strategy for growing cashflows - Annual..
More news
Sector news : Residential Real Estate Development
03:29aDJSHIMAO PROPERTY : to Issue US$150 Million Senior Notes Due 2022
06/23DJGLOBAL LOGISTIC PROPERTIES : Says It Remains in Talks With Shortlisted Bidders
06/23DJSHIMAO PROPERTY : Issues US$450 Million Bonds Due 2022 at 4.75%
06/22DJCHINA EVERGRANDE : to Issue Total US$3.8 Billion Worth of Bonds in 3 Tranches
06/22DJSHIMAO PROPERTY : Plans to Issue US Dollar-Denominated Bonds
More sector news : Residential Real Estate Development
News from SeekingAlpha
2015 Why Income Investors Should Consider German Residential Real Estate
Financials (€)
Sales 2017 299 M
EBIT 2017 259 M
Net income 2017 212 M
Debt 2017 2 210 M
Yield 2017 4,44%
P/E ratio 2017 10,30
P/E ratio 2018 10,20
EV / Sales 2017 14,1x
EV / Sales 2018 13,9x
Capitalization 1 997 M
More Financials
Duration : Period :
TAG Immobilien AG Technical Analysis Chart | TEG | DE0008303504 | 4-Traders
Full-screen chart
Technical analysis trends TAG IMMOBILIEN AG
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 14,2 €
Spread / Average Target 4,0%
Consensus details
EPS Revisions
More Estimates Revisions
Rolf Elgeti Chairman-Supervisory Board
Claudia Hoyer Chief Operating Officer
Martin Thiel Chief Financial Officer
Lothar Maximilian Lanz Deputy Chairman-Supervisory Board
Philipp K. Wagner Member-Supervisory Board
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CHINA VANKE CO., LTD.--.--%37 939
VONOVIA13.65%18 969
More Results