publity enjoys further higher revenues and earnings in H1 2017 according to preliminary figures
- Net profits in H1 2017 up by more than 30 percent to EUR 5.5 million - earnings per share EUR 0.91- EBIT up by 27 percent to EUR 8.1 million; revenues up by around 11 percent to EUR 12.9 million - Assets under management on 30 June 2017 at EUR 3.8 billion after EUR 3.2 billion at the end of 2016
Leipzig, 18 July 2017 - publity AG (Scale, ISIN DE0006972508), an investor and asset manager for German office properties, has recorded an increase in revenues and earnings in the first half of 2017 (preliminary figures). Under HGB accounting, net profits in the first six months of 2017 totalled EUR 5.5 million, more than 30 percent higher than the result in the same period of the previous year of around EUR 4.2 million. This corresponds to earnings per share of EUR 0.91 after EUR 0.69 one year previously. EBIT soared to EUR 8.1 million after EUR 6.4 million in the previous year, up by 27 percent. Revenues totalled EUR 12.9 million, exceeding the previous year's figure of EUR 11.6 million by 11 percent.
This increase is primarily due to publity AG's highly successful asset management business. In particular repeat income from asset management business has increased as part of the strong expansion of the assets under management. publity recently concluded additional asset management mandates and has thus substantially reinforced its co-investment business with international investors. Assets under management (AuM) have increased to EUR 3.8 billion at the end of June 2017 from EUR 3.2 billion at the end of 2016. In addition, publity has also recorded key rental successes for the properties it manages, and has once again been able to sell properties at a profit since the start of 2017. publity receives a finder's fee when the properties are purchased, receives income for its extensive asset management, and also participates in the sale of the properties at a profit.
There will be positive impetus in 2017 from both the asset management business and also the exploitation of the NPL portfolio which currently totals a nominal amount of EUR 3.2 billion. publity believes that its existing property pipeline will cause its AuM to rise to around EUR 5.2 billion through to the end of 2017, and to around EUR 7 billion by the end of 2018.
The H1 2017 financial statements with the final financial indicators will be published on the company's Web site www.publity.de on 18 August 2017.
Press Contact: Finanzpresse und Investor Relations: edicto GmbH Axel Mühlhaus/ Peggy Kropmanns Telefon: +49 69 905505-52 E-Mail: email@example.com
publity AG is an asset manager specialised in German office real estate. The company covers a broad value chain from acquisition to development through to the sale of real estate and has a track record of several hundred successful transactions. publity is characterized by a strong network in the real estate sector as well as by the work out departments of financial institutions, has very good access to investment resources and conducts transactions quickly with a highly efficient process with proven partners. As a co-investor, publity is, to a limited extent, involved in joint venture transactions. The shares of publity AG (ISIN DE0006972508) are traded on the exchange segment Scale of the German stock exchange.
18.07.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English
Company: publity AG Landsteinerstr. 6 04103 Leipzig
Germany Phone: 0341 26178710 Fax: 0341 2617832 E-mail: firstname.lastname@example.org Internet: www.publity.de ISIN: DE0006972508 WKN: 697250 Listed: Regulated Unofficial Market in Dusseldorf, Stuttgart, Tradegate Exchange; Open Market (Scale) in Frankfurt End of News DGAP News Service